While VCs crowd into San Francisco, Endeavor Catalyst raises $320M for founders ‘elsewhere’
Endeavor Catalyst has closed its fifth fund with $320 million in capital commitments, bringing the firm’s total assets under management to more than $850 million. The raise is good news for founders outside the Bay Area who risk getting overlooked as more funds focus squarely on AI companies in Silicon Valley.
Catalyst is the venture arm of Endeavor, a New York-based global nonprofit that has spent 30 years supporting founders outside major tech hubs. (It calls all those other places “elsewhere” throughout its marketing materials.)
The fund is run by managing partner Allen Taylor, a 20-year veteran of the organization, and managing director Jackie Carmel, who joined Endeavor 12 years ago, along with a 16-person team. The official general partner, though, is Endeavor itself. What that means, says Linda Rottenberg, who co-founded Endeavor and helped start Endeavor Catalyst in 2012, is that “half of the fund’s profits go back to...
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