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Endeavor Catalyst, the investing arm of the nonprofit Endeavor, wrapped up its fifth fund at $320 million in commitments, TechCrunch reported on October 7. The firm now manages more than $850 million and focuses on founders far from Silicon Valley.
This is a venture capital fund with an unusual design, and its rules say a lot about how capital is really allocated. If you are raising outside the usual hubs, understanding how it picks companies can sharpen your own plan. It also adds context to the sky-high deals we covered in startup valuation.
How the Fund Is Built
Allen Taylor, who has spent 20 years at the organization, serves as managing partner, and Jackie Carmel, with 12 years, is managing director. They lead a team of 16. The nonprofit serves as general partner, so it keeps half of the profits and reinvests them in the next generation of founders.
The money comes from about 400 limited partners. Backers include Reid Hoffman, Bill Ackman and Prosus, and roughly 30 percent are Endeavor founders, among them the founders of Nubank, Revolut and Checkout.com.
Endeavor Catalyst by the numbers
Measure
Figure
Fifth fund size
$320 million
Assets under management
More than $850 million
Companies backed across five funds
437 in 44 markets
Portfolio companies valued at $1 billion or more
83
Exits and IPOs
39 exits, 11 IPOs
The Unusual Selection Filter
Founders cannot pitch Catalyst cold. They first need to join Endeavor’s network, which last year evaluated over 10,000 applicants and admitted just 88. Today the network counts more than 3,100 founders across upwards of 50 countries, and you can learn how entry works on Endeavor’s website.
That screening acts like a pre-built credibility signal. By the time a company reaches the fund, a lead investor has often already priced a round, which lowers the fund’s diligence burden.
Follow-On Checks and Where They Land
Catalyst invests alongside others. … Read More
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