VC player beats target with 100 investors

Endeavor Catalyst has sailed to final close of its fourth emerging markets-focused fund – beating the target by over 16%. The fund has raised capital from 100 investors.

The investor has brought in $292 million for Endeavor Catalyst Fund IV, which is about 16% of the $250 million initially targeted. A lower size for this fund was set at $200 million. The vehicle also has a co-investment facility.

This final close sees Endeavor raise its largest fund since inception and brings the investor’s total assets under management (AUM) to $500 million, according to the investor.

Endeavor Catalyst Fund IV is about twice the predecessor, Endeavor Catalyst Fund III, closed at $134 million in 2020.

The has raised the capital from over 100 individual investors across more than 40 countries, globally.

About 30% of investors in the fund are founders of Endeavor’s portfolio companies, according to the investor.

Individual investors in the fund include Reid Hoffman, co-founder of LinkedIn and Marcin Żukowski, co-founder of Snowflake, a US-based technology company – both with undisclosed amounts.

Kevin Ryan, founder of US-based technology companies, DoubleClick and MongoDB is also in the fund with an undisclosed amount.

Mudassir Sheika, chief executive officer at United Arab Emirates (UAE)-based technology company Careem is also in the fund with an undisclosed amount.

“We are thrilled to have such strong support from our LP community with this fourth fund,” Allen Taylor, managing partner at Endeavor. “The quality of entrepreneurial talent today across the 40+ markets where Endeavor operates is the highest, we have ever seen, and we cannot wait to invest more in these places.”

Linda Rottenberg, co-founder and chief executive officer at Endeavor represented the investor.

Endeavor Catalyst Fund IV has been structured as a venture capital vehicle that will back early-stage companies, across emerging markets.

The vehicle will primarily focus on Latin America, Europe, Southeast Asia, Africa and the Middle East.

Endeavor was set up in 2012 to back early-stage deals and has backed over 260 companies in more than 35 countries, globally – since inception.

The investor’s portfolio companies created about two million jobs and generated over $17 billion in revenues, as of 2021, according to Endeavor.

In addition, about 49 of Endeavor’s portfolio companies have reached over $1 billion in valuation, including initial public offerings (IPOs) and acquisitions, according to the investor.

Endeavor’s catalyst funds are typically structured as co-investment vehicles that invest exclusively in companies led by founders selected into Endeavor’s network.

The investor’s network of founders typically raises priced equity rounds from venture capital and growth equity funds, primarily at Series A, Series B and Series C investment stages.

Endeavor’s portfolio is made up of 26% financial services technology companies, 23% retail and consumer technology companies, and 18% enterprise software and services companies. The remaining 33% has not been disclosed.

Full fund details will be available shortly