Endeavour Catalyst closes its fifth fund at $320 million, third of investors are entrepreneurs from its network

Endeavour Catalyst, the venture-capital arm of the global entrepreneurship network Endeavour, closed its fifth fund at $320 million, bringing assets under management to over $850 million. The fund attracted roughly 400 limited partners, including the founders of NoBank, Revolut, CheckOut.com, Careem and Snowflake, alongside investors such as Reid Hoffman, Bill Ackman and Process. About 30 percent of the fund’s investors are entrepreneurs from the Endeavour network itself, in a model where successful founders reinvest in the next generation of companies.

Co-investment strategy outside traditional hubs

The fifth fund targets investments in up to 150 companies, with typical commitments ranging from $1 million to $3 million. Unlike venture-capital funds that lead financing rounds, Endeavour Catalyst acts as a co-investor: companies must first be selected in the global Endeavour entrepreneurship network and must secure a financing round led by a sponsor of at least $5 million to qualify for the fund’s investment. Catalyst invests on the same terms set by the lead investor, and the fund’s participation generally caps at 10 percent of any single round.

The strategy focuses on companies founded or led by entrepreneurs operating outside traditional technology hubs, including markets in Latin America, Europe, the Middle East, Africa and Asia. About 90 percent of Endeavour Catalyst’s investments are outside the United States. Latin America remains the largest investment region, while Europe is seeing rising activity, with 12 new investments in the first half of 2026 compared with 14 investments throughout 2025.

New fund portfolio and MENA presence

The fifth fund began deploying capital into companies such as RepLit, Move, Pribleb, Cashia, Respond.io, Endurosat, Happy Robot and Lunar Outpost. The portfolio reflects the fund’s exposure to sectors spanning artificial intelligence, enterprise technologies, financial services and mobility, with a growing focus on deep tech, foundational AI, cloud infrastructure and serial entrepreneurs building AI applications.

Since its founding in 2012, Endeavour Catalyst has invested over $500 million through its portfolio. As of 22 September 2026, the firm has supported 437 companies in 44 markets, including 83 companies valued at $1 billion or more, and the portfolio has recorded 39 exits and 11 initial public offerings, with investments in Eleven Labs, Binding Sponges, Reflection AI, CheckOut.com and Flutroive.

In the Middle East and North Africa region, the fund has previously backed several notable companies: Blinq, Nawy and Thunder in Egypt; Chari in Morocco; Ghazrin and Silq in Saudi Arabia; and Tarjuma in the United Arab Emirates. Careem’s presence among the investors in the new fund strengthens the regional reinvestment loop: a founder of a successful exit redirects capital toward the next generation of entrepreneurs in the region.

What this means for the startup ecosystem in the region

Closing the $320 million fifth fund at a time when global venture-capital investment is increasingly focused on large AI companies and established technology hubs sends a clear signal: there is patient institutional capital looking for high-growth opportunities in markets that have attracted relatively less international attention. The Endeavour network, which includes more than 3,100 entrepreneurs across over 50 countries, acts as a funnel to identify these opportunities before they reach the radars of traditional funds.

For entrepreneurs in the Gulf, Egypt and Morocco, the practical takeaway is that the Endeavour pathway, joining the network, securing a sponsor-led round, then obtaining Catalyst participation, remains a real and open financing channel, provided the selection criteria and institutional framework required by the fund are met. The fund expects to deploy an additional $25 million to $30 million over the remainder of 2026, led by managing partner Allen Taylor, managing director Jackie Carmell and the broader investment team.