Endeavor Catalyst, the venture capital arm of global entrepreneurship network Endeavor, has raised $320 million for its fifth fund as it targets high-growth startups in markets beyond traditional technology hubs.
The oversubscribed fund is the firm’s largest to date, lifting Endeavor Catalyst’s assets under management to more than $850 million. It attracted about 400 limited partners, including founders of Nubank, Revolut, Checkout.com, Snowflake and Careem, as well as investors such as Reid Hoffman, Bill Ackman and Prosus.
About 30% of the fund’s backers are entrepreneurs from Endeavor’s own network, underscoring the firm’s strategy of having successful founders reinvest in emerging companies.
Fund V plans to invest in as many as 150 companies, typically committing between $1 million and $3 million to each. Endeavor Catalyst generally invests alongside institutional investors rather than leading rounds, and its participation is capped at about 10% of an individual financing.
Companies seeking investment must first be selected into Endeavor’s global entrepreneurship network and secure an institutional-led funding round of at least $5 million.
The strategy gives the fund exposure to startups across Latin America, Europe, the Middle East, Africa and Asia. About 90% of Endeavor Catalyst’s investments are outside the US, with Latin America remaining its largest investment region.
Europe is also becoming a larger part of the portfolio. Endeavor Catalyst made 12 new investments in the region during the first half of 2026, compared with 14 for the whole of 2025.
The new fund has already backed companies including Replit, Moove, Preply, Cashea, Respond.io, EnduroSat, HappyRobot and Lunar Outpost. Its portfolio spans artificial intelligence, enterprise technology, financial services and mobility.
Endeavor Catalyst said it is increasing its focus on deep technology, foundational artificial intelligence, cloud infrastructure and repeat founders building AI applications.
The firm’s investments in emerging markets include several startups in the Middle East and North Africa, among them Egypt’s Blink, Nawy and Thndr, Morocco’s Chari, Saudi Arabia’s Gathern and SILQ, and UAE-based Tarjama. Its portfolio also includes African fintech Flutterwave.
Since its launch in 2012, Endeavor Catalyst has invested more than $500 million in 437 companies across 44 markets. Eighty-three companies in its portfolio have reached valuations of at least $1 billion, while the portfolio has recorded 39 exits and 11 initial public offerings.
Endeavor Catalyst expects to deploy another $25 million to $30 million through the end of 2026.
The fund is managed by Allen Taylor, managing partner, and Jackie Carmel, managing director, alongside the wider Endeavor Catalyst investment team.
The fundraising comes as venture capital flows increasingly concentrate around large artificial-intelligence companies and established technology centres. Endeavor Catalyst is taking a different approach, using Endeavor’s network of more than 3,100 entrepreneurs across more than 50 countries to source companies in markets that have historically received less international venture funding.
For entrepreneurs outside Silicon Valley and other established technology hubs, the model provides access to institutional capital while allowing Endeavor Catalyst to invest alongside established venture firms rather than compete directly with them.