Endeavor Catalyst has closed its fifth fund with $320 million in capital commitments, bringing total assets under management to more than $850 million. The raise is good news for founders outside the Bay Area who risk getting overlooked as more funds focus on AI companies in Silicon Valley. Endeavor Catalyst is the venture arm of Endeavor, a New York-based global nonprofit that has spent 30 years supporting founders outside major tech hubs.
The fund is run by managing partner Allen Taylor and managing director Jackie Carmel, along with a 16-person team. Linda Rottenberg, who co-founded Endeavor and helped start Endeavor Catalyst in 2012, says that “half of the fund’s profits go back to Endeavor, so every investment helps the next generation of founders who are building elsewhere.”
Last year, Endeavor screened more than 10,000 candidates and picked 88. The network now has over 3,100 entrepreneurs in 50 countries. When a founder’s company raises at least $5 million, Endeavor Catalyst can join on the same terms. Checks usually run $1 million to $3 million. Over the next few years, they plan to make 40 to 50 investments annually, investing in up to 150 companies with this fund.
Across all five funds, Endeavor Catalyst has backed 437 companies in 44 markets. Eighty-three startups are valued at $1 billion or more, with 39 exits and 11 IPOs. Valuable holdings include Eleven Labs, Bending Spoons, and Reflection AI. The fund includes 400 limited partners, among them Reid Hoffman and Bill Ackman.
Source: TechCrunch Venture · Summarized by HeadlinesBriefing