Endeavor Catalyst Raises $320M Fund to Back Startups Beyond Silicon Valley

Endeavor Catalyst has closed its fifth venture capital fund with $320 million in commitments, bringing its assets under management to more than $850 million. The New York-based investor plans to back up to 150 startups, maintaining its focus on founders outside Silicon Valley and other established technology hubs.

The fund arrives as venture capital attention increasingly concentrates on artificial intelligence companies in the San Francisco Bay Area. Endeavor Catalyst says approximately 90% of its investments are outside the United States, with Latin America representing its largest regional portfolio.

Endeavor Catalyst Plans Up to 150 Investments

Endeavor Catalyst is Endeavor’s investment arm, a nonprofit that has supported entrepreneurs worldwide for 30 years. Allen Taylor and Jackie Carmel manage the fund and have spent 20 and 12 years with the organisation, respectively, alongside a 16-person team.

Unlike conventional venture firms, Endeavor serves as the fund’s general partner. Co-founder Linda Rottenberg said half of the investment profits return to the nonprofit, helping finance its work with emerging entrepreneurs.

The investment process begins with admission to Endeavor’s entrepreneur network. The organisation screened more than 10,000 candidates last year but selected just 88, bringing its network to more than 3,100 entrepreneurs across over 50 countries.

Eligible companies must raise at least $5 million in a funding round led by another institutional investor before Endeavor Catalyst can participate. Its investments typically range from $1 million to $3 million, cannot exceed 10% of a funding round and follow the lead investor’s terms.

The firm expects to make 40 to 50 investments annually over the next several years. Its fifth fund could ultimately support as many as 150 companies.

Portfolio Includes ElevenLabs, Replit and Bending Spoons

Across its five funds, Endeavor Catalyst has invested in 437 companies spanning 44 markets, according to Taylor. The firm reports that 83 portfolio companies have reached valuations of at least $1 billion, while 39 have completed exits and 11 have gone public.

Its holdings include ElevenLabs, the AI voice technology company originally founded in Poland, which recently reached a $22 billion valuation through a secondary share sale. Another investment is Italy-based Bending Spoons, which went public in July and has a reported market capitalisation of approximately $26 billion.

Other portfolio companies include Reflection AI, valued at $25 billion; payments company Checkout.com, valued at $12 billion last year; and African payments infrastructure provider Flutterwave, valued at $3.2 billion this summer. AI coding company Replit, co-founded by Palestinian-Jordanian entrepreneur Amjad Masad, reached a $9 billion valuation earlier in 2026.

Although Endeavor Catalyst has disclosed portfolio valuations and exit figures, Taylor did not provide cash-on-cash return data for its previous funds. Those figures therefore do not establish how much capital the firm has returned to investors.

Europe Emerges as Endeavor’s Fastest-Growing Region

Latin America remains Endeavor Catalyst’s largest investment region, but Europe is growing fastest. The firm completed 12 new European investments during the first half of 2026, compared with 14 throughout 2025.

Endeavor’s international network includes local teams and mentors who help identify and support entrepreneurs in markets outside major technology centres. Its broader organisation also has connections to investors and business leaders, including LinkedIn co-founder Reid Hoffman, venture capitalist Nick Beim and Endeavor board chair Edgar Bronfman Jr.

Founders and Investors Back the $320 Million Fund

The fifth fund attracted 400 limited partners, including Hoffman, hedge fund manager Bill Ackman and Dutch investment group Prosus. Approximately 30% of its backers are Endeavor entrepreneurs themselves, according to Taylor, including founders associated with Nubank, Revolut and Checkout.com.

Repeat founders are also becoming a larger investment category. Around 14% of Endeavor Catalyst’s fourth fund went to seed- or Series A-stage companies started by entrepreneurs previously supported by Endeavor. The firm expects that share to reach approximately 20% in its latest fund.

The new fund expands Endeavour Catalyst’s capacity to invest across international markets while directing part of its investment profits back into Endeavour’s entrepreneur network. Its investment model remains tied to companies that have already secured institutional backing, rather than leading financing rounds independently.