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Welcome to our 2020–2021
Endeavor Catalyst Annual Report!
Just last year, we were in the throes
of a raging pandemic, which caused
significant global uncertainty.
And while the pandemic remains
a harsh reality, the venture capital
markets have benefitted from
unprecedented monetary and
fiscal support, which has increased
liquidity and risk appetite across
all asset classes. Notably, new
investment rounds for the best
scale-up stage companies have
proven to be bigger, faster, and
more global than ever before.
Despite a collective global
pause in investment activity from
February – April 2020, we came
roaring back with the market in
the second half of the year. Led by
some of the strongest companies
in Endeavor's portfolio, we made
13 new investments in Q2
2020, marking the
most active quarter
in Endeavor
Catalyst's nine-
year history.
We closed
the year with
33 total new
investments.
As 2020
drew to a close,
so did our fundraising for Fund
III. We successfully raised
~$130M, bringing our total assets
under management across our
three funds to $250M. Even
amidst macroeconomic turmoil,
our LPs showed their deep
support and understanding of
our model by continuing to invest
behind our steadfast thesis: the
best entrepreneurs can raise
capital in any environment.
This certainly proved to be true
as the historic bull market seen in
the second half of 2020 continued
into 2021. Global venture funding
hit an all-time record high of
$125B in the first quarter of 2021,
dominated by late-stage funding
that, among other things, minted
112 new unicorns (privately-held
companies with a $1B+ valuation)
in less than 100 days. In line with
these dynamics, we made 13 new
investments in Q1, matching our
prior busiest quarter in Q2 2020.
As of April 10, 2021, this brings our
total investments since inception to
181 across 31 markets. Our portfolio
companies have an impressive
combined value of $70B+, and our
~$150M total invested capital in
these companies has more than
doubled in fair market value. Our
pipeline is also stronger than ever.
Opening Letter from the
Endeavor Catalyst Team
