Endeavor Catalyst is raising a $300 million fund, its fifth and largest fund so far, to double down on high-growth companies in emerging markets.
The fundraising is still in its early stages, with conversations ongoing with a mix of family offices, development finance institutions, and successful tech founders.
If the round closes as planned, it would push the firm’s total assets under management beyond $800 million.
Endeavor Catalyst operates on a distinct model; it invests only in founders who have already been vetted and selected by Endeavor Global’s network.
These are scale-stage companies already gaining traction in regions typically overlooked by mainstream capital, including Africa, Latin America, Southeast Asia, and the Middle East.
In an environment where many venture firms are pulling back, thanks to weak exit markets, fewer follow-on rounds, and a sluggish global capital flow, Endeavor Catalyst is not giving up. It believes its model, anchored in founder quality and local market insight, gives it a long-term edge.
Since launching in 2012, the firm has made more than 360 investments across 34 countries. Its portfolio includes 63 companies that have crossed the $1 billion valuation mark. Flutterwave in Nigeria, Rappi in Colombia, Tabby in the UAE, Insider in Turkey, and Carro in Indonesia are among them.
Over 30 of its portfolio companies have exited, either through IPOs or acquisitions, Argentina’s Globant, Chile’s Cornershop, and Tunisia’s InstaDeep among the more recognisable names.
What makes the firm different is how it approaches investing. It doesn’t lead rounds, just simply co-invests in equity rounds, typically Series A to C, of $5 million or more, alongside other institutional VCs. This lean model allows it to scale with minimal overhead while gaining access to high-potential deals.
“Endeavor Catalyst is not here to compete with traditional VCs,” a source familiar with the fund’s strategy told TechCrunch. “It exists to back founders already proven within the Endeavor network who are ready to raise serious capital.”
The Endeavor model starts with identifying promising entrepreneurs early. It surrounds them with mentorship, opens global networks, and supports them with local expertise.
Once they hit their growth stride, Endeavor Catalyst steps in with funding, not to dictate terms, but to back them alongside top-tier investors like QED Investors, Tiger Global, Kaszek Ventures, and Prosus Ventures.
The fund is also backed by some of the world’s most influential investors and founders. Bill Ackman, Pierre Omidyar, Michael Dell, Bill Ford, and Reid Hoffman are among its backers. Notably, 30% of its LPs are founders themselves, so-called “Endeavor Entrepreneurs” including Marcos Galperin (MercadoLibre), David Vélez (Nubank), and Marcin Żukowski (Snowflake).
Even in colder market conditions, Endeavor Catalyst has been active. In Q4 2024 alone, it closed 13 new deals across seven different countries, making it one of the most active funds globally in that quarter.
What Endeavor Catalyst is doing matters beyond just returns. It’s helping to prove that some of the world’s most investable companies are not in Silicon Valley, but in Lagos, Jakarta, São Paulo, and Dubai. Its performance is changing perceptions around venture potential in emerging markets.
While it declined to comment on the ongoing fundraising, the firm’s track record reveals that the $300 million goal is realistic, and that it’s well-positioned to reach it.
