Endeavor Catalyst Targets $300M for Fifth Fund to Back Global Startups

Linda Rottenberg, Endeavor Catalyst Co-Founder & CEO

Endeavor Catalyst, the co-investment fund affiliated with global entrepreneurial network Endeavor Global, is raising a new $300 million fund, its fifth and largest fund yet, as it looks to deepen its bet on high-growth startups across Africa, Latin America, the Middle East, and Southeast Asia, TechCrunch has learned.

The new fund, according to sources, is still in the early fundraising stages. Its previous fund was a $292 million Fund IV closed in 2022. The firm has already begun early conversations with limited partners, including family offices, development finance institutions, and tech founders across its global network.

If successful, the fund would take Endeavor Catalyst’s total assets under management to well over $800 million, further cementing its position as one of the most active venture players across emerging markets.  

Endeavor Catalyst declined to comment on fundraising activity.

The fundraise comes at a moment when many venture investors of emerging markets are facing headwinds: sluggish exits, fewer follow-on rounds, and a constrained global capital environment. But Endeavor Catalyst is betting that its model can weather the downturn and scale promising and well-established companies in these markets.

The firm, formed in 2012, solves a persistent gap in venture capital in developing markets: access to growth-stage funding. Unlike traditional VCs, Endeavor Catalyst only invests in founders selected by Endeavor Global’s network — “high-impact entrepreneurs,” it calls them. It participates in equity rounds of at least $5 million (usually at Series A to C stages) and invests alongside other institutional VCs.

Endeavor Global identifies breakout founders early, provides them with global mentorship and market access, and then backs them (with Endeavor Catalyst) when they intend to raise capital, without leading or setting terms (the fund does not lead rounds or take board seats). 

Source: TechCrunch