Endeavor

20 Fortunately, since launching in 2012, Endeavor Catalyst has had the opportunity to invest alongside some of the leading funds of the world, and these past twelve months have been no different. Counting more than 100 different funds as co-investors to date, Endeavor Catalyst continues to partner at the earlier-stages (i.e. Series A) with leading regional funds such as Kaszek, Monashees and RPEV in Latin America and Wamda Capital, Middle East Venture Partners (MEVP) and BECO Capital in the Middle East. Series A rounds represent 45% of our co-investments. At the later stages, our Series B co-investment rounds (33% of our investments) are typically led by US/ Global VC Funds such as Accel, NEA, and Sequoia, while our Series C and D+ rounds (22% of co-investments) are typically led by global growth equity funds such as General Atlantic, TPG, and Riverwood. In Latin America—still the most active region of investment for Endeavor Catalyst—the number of global investors is on the rise. According to a recent study by the Latin American Venture Capital Association (LAVCA), "e total number of global investors into Latin American startups has more than doubled since 2013 (from 36 in 2013 to 80 in 2017)." e same study goes on to note that "some of Silicon Valley's biggest names are active in Latin America, including Andreessen Horowitz, Accel Partners, Founders Fund, Sequoia Capital, and Y Combinator." Notably, Endeavor Catalyst has co-invested with all of the funds mentioned. In fact, the same study found that Endeavor Catalyst was the most active global investor in Latin America over the past 5 years (2013-2017), with a total of 32 investments in the region. For reference, the fund with the second highest total, Valor Capital—a great Endeavor Catalyst co-investment partner in Brazil—made 16 investments, according to LAVCA. A similar story is developing in the Middle East, where a number of recently launched regional funds are backing Endeavor Entrepreneurs with participation from Endeavor Catalyst. anks to the support of amazing Endeavor team members in Jordan, Egypt, Lebanon, the UAE, Saudi Arabia and beyond, Endeavor Catalyst was also recognized during this past year as the most active international investor in the MENA region by Forbes. Perhaps most encouraging of all, we've seen a very positive trend of co-investing time and time again C O - I N V E S T O R S : I N V E S T I N G A LO N G S I D E T H E L E A D I N G F U N D S O F T H E W O R L D The Endeavor Catalyst model of co-investment— investing in up to 10% of each qualifying round— relies on great co-investors. " Founders love to have Endeavor Catalyst as a shareholder, and Endeavor Catalyst has consistently proven to be a value-add partner. Endeavor is now having an even larger, more positive impact in all of the regions where it operates, through Endeavor Catalyst." p NICOLAS SZEKASY Co-founder & Managing Partner, Kaszek Ventures Endeavor Entrepreneur and Endeavor Global Board Member

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