Endeavor Catalyst closes fifth fund at $320M to back founders outside the U.S.

The new fund gives the venture arm more capacity to support startups in markets that still draw far less capital than Silicon Valley.

Endeavor Catalyst has closed its fifth fund with $320 million in commitments, lifting its assets under management to more than $850 million and giving it more firepower to back founders outside Silicon Valley. The fund, run by Allen Taylor and Jackie Carmel, expects to make 40 to 50 investments a year and about 150 companies overall, with most checks landing in rounds of at least $5 million and typically ranging from $1 million to $3 million. Across five funds, the firm says it has backed 437 companies in 44 markets, with 83 now valued at $1 billion or more, plus 39 exits and 11 IPOs. Its newest backers include 400 limited partners such as Reid Hoffman, Bill Ackman and Prosus, and about 30% are Endeavor founders themselves. Endeavor says roughly 90% of its investments are outside the U.S., with Europe now its fastest-growing region.