Business

Endeavor is launching a new $134 million venture capital fund to invest in emerging markets

In Latin America, the new firm is backed by founders of some of the region's most successful scale-ups

Careem co-founders Mudassir Sheikha, Abdulla Elyas, and Magnus Olsson. Endeavor Entrepreneurs and pioneers reinvesting their success in the MENA region — both directly into companies and via platforms like Endeavor Catalyst. | Photo by Kieran Kesner for Endeavor
  • With the new fund, Endeavor Catalyst’s total assets under management is up to $250 million;
  • It is the third and the largest fund by Endeavor to invest on its own entrepreneurship.

Endeavor announced it is launching Endeavor Catalyst III, a new $134 million venture capital fund. It is the largest fund of the company, surpassing the $120 million target goal Endeavor had originally set. It also brings Endeavor Catalyst’s total assets under management (AUM) up to $250 million.

Aimed to continue investing in its entrepreneurs in emerging and underserved markets globally, Endeavor’s new fund has more than 60 of its own entrepreneurs as investors. In Latin America, where the firm has been active since 1997, Endeavor’s Fund III Limited Partners, founders of some of the region’s most successful scale-ups – such as EBANX, MercadoLibre, Nubank, 99, Creditas, and Clip – back the fund.

João Del Valle, co-founder and COO of EBANX, that owns LABS, stated: “The support from Endeavor goes a long way, back in 2012, when they believed in us when we first started EBANX. In the end of 2017, they were present in our first raised investment, through the Endeavor Catalyst Fund, together with FTV Capital. It is an honor for us to be with them in this new fund, as investors, joining them in this mission to foster and help grow startups that are transforming Latin America and the world.”

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On its behalf, Endeavor said that “since launching Endeavor Catalyst in 2012, we have actively pursued Endeavor’s core belief that high impact entrepreneurs change the world and have invested into more than 150 Endeavor entrepreneur-led companies across 30 different markets to date”.

The firm also told that to leverage its co-investment model, it partnered with many of the world’s leading venture capital and growth equity firms to invest in businesses like Globant and Rappi (valued at more than $3.5 billion) in Latin America, Peak Games (that acquired Zynga for $1.8 billion in 2020) and Checkout.com (valued at more than $5.5 billion) in Europe, the Middle East and Africa, and Bukalapak (valued at more than $2.5 billion) in Southeast Asia.

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Endeavor invests in philanthropic capital since 2012. In 2014 it created Endeavor Catalyst Fund I, in 2017 the Fund II and now Fund III. “We created Endeavor Catalyst eight years ago with the ambition to be the world’s most founder-friendly investment fund”, it stated.