Impact investor Endeavor Global closes third venture capital fund at $134m

Photo by Micheile Henderson on Unsplash

US-based high impact entrepreneurship organisation Endeavor Global has closed its third global fund, Endeavor Catalyst Fund III, at $134 million, according to an announcement by managing partner Allen Taylor.

The fund, which was launched last year with a $120 million target, will continue to invest in companies in emerging and underserved markets globally, including Asia.

The company said the fund is backed by some of the world’s leading entrepreneurs including Reid Hoffman (of LinkedIn), Michael Dell (Dell Technologies), and Pierre Omidyar (eBay), as well as renowned investors such as General Atlantic’s Bill Ford and Pershing Square’s Bill Ackman.

Also contributing to the fund are over 60 founders of Endeavor’s portfolio companies.

“With Fund III, we are proud to have at least one LP from every single country where Endeavor operates,” Taylor said.

Endeavor Catalyst, headquartered in Silicon Valley and New York, is currently present in over 35 countries. In Asia, it still has a relatively small footprint with presence in Indonesia, Malaysia, Vietnam, and the Philippines. Going forward, it plans to launch in Singapore.

Founded in 2012, Endeavor Catalyst is the innovative co-investment fund of Endeavor, an organisation that helps entrepreneurs scale up their operations. Endeavor operates a hybrid fund model that combines characteristics of venture capital investments and impact funds.

It runs a 50-50 profit-sharing model where investors get back 50 per cent of the profits, while the remaining 50 per cent is returned to Endeavor to scale its non-profit operations covering aspects like mentorship and entrepreneurial workshops. It does not charge a management fee.

The latest fund follows a $30 million debut fund in 2013 and an $80 million vehicle in 2017. Both funds have been fully deployed across 25 markets and in over 110 companies. Having deployed parts of its third fund, Endeavor says it has now invested into more than 150 Endeavor Entrepreneur-led companies across 30 different markets to date.

Endeavor exclusively invests in companies’ Series A, B, and C rounds of funding, with ticket sizes ranging from $500,000 to $2 million.

As per estimates shared with us earlier in the year, Southeast Asia currently comprises a small portion of Endeavor’s investments with just 8-9 per cent being allocated to the region across its first two funds.

Among the Southeast Asian companies it has backed are grocery platform HappyFresh, cashback app Snapcart, peer-to-peer lending marketplace Investree, tax solutions startup Online Pajak, and e-commerce unicorn Bukalapak.

From its third fund, Endeavor has invested in Carsome, a Malaysia-based marketplace for trading used cars.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.