A New $290 million International Fund from Endeavor, with strong Greek Interest

By Endeavor Greece Jul 3, 2022

The fund co-invests in its network companies from around the world, aiming to expand its presence and impact in local markets

Endeavor Greece, the Greece branch of Endeavor Global, managed to secure investments of over $15 Million in Greek startups over the next 2-3 years through its participation in a special fund that aims to support the work of the international and its impact in 43 secondary markets worldwide. The Endeavor Catalyst fund has so far invested in 5 promising Greek companies; Hellas Direct, Workable, Nova Credit, Blueground, and Spotawheel. 

Greece, July 4th, 2022 – Endeavor announces the closing of the organization’s fourth consecutive and largest fund to date, Endeavor Catalyst Fund IV, raising more than $290 million. The fund was supported, among others, by a large number of entrepreneurs from Endeavor’s own network from around the world who wish to invest in new innovative ideas and offer opportunities to visionary entrepreneurs operating in secondary markets. Endeavor Greece, Endeavor’s Greek office, is the largest shareholder among the organization’s 41 local offices ensuring that more than $15 million is to be invested in Greek startups over the next 2-3 years. 

Endeavor Catalyst has been investing since 2012 in Endeavor Entrepreneurs, and to date has participated in over 150 leading companies that have created some of the biggest success stories worldwide such as, Rappi, Cabify, Glovo, Creditas, dLocal, Globant Kavak, Wallbox, and VTEX. Endeavor Catalyst’s investments include the leading Greek companies Blueground, Hellas Direct, Workable, Spotawheel, and Nova Credit. 

“For the last 10 years at Endeavor, we have consistently supported the Greek market acting as a global platform for the Greek ecosystem that brings together those who are part of the network, whether they be based in Greece or abroad, creating synergies as much international support for the new generations of successful Greek entrepreneurs. Experience has taught us that a valuable ingredient needed for strengthening the Greek economy is extroversion, which is why we have planned strategic actions aimed at putting Greece on the world map of innovation. Large international conferences that attract global attention, campaigns that promote the country as a destination for executives, investors, and entrepreneurs, international reliable reports on the Greek ecosystem, reskilling/upskilling programs for Greek students and graduates, and creation of innovative programs with big-tech players are just a few of the actions we have envisioned and would like to see take place in the greek ecosystem in the coming years. Endeavor aspires to have the ability (and financial means) to carry out and contribute in a decisive and substantial way to the creation of a more extroverted Greek ecosystem. Endeavor Catalyst is a vehicle for our organization to be able to decisively support such an international scope and ambition” said Panagiotis Karampinis, Managing Director of Endeavor Greece. 

A global fund with a special structure and important mission 

The Endeavor Catalyst fund has a unique story and an extremely important mission. It does not change the non-profit nature of the organization, but quite the opposite. Endeavor aspires to have the opportunity to become financially more sustainable and able to carry out even more actions and more ambitious programs for the development of local technology ecosystems in secondary markets, maximizing its impact on local communities.

The mission and vision of Endeavor and Endeavor Catalyst

Endeavor Catalyst co-invests in member companies of the organization, if the companies meet specific criteria and wish to do so. More specifically, if an entrepreneur has been selected as an Endeavor Entrepreneur and, in the period following his selection, raises a financing round of at least 5 million dollars from institutional investors, then he is entitled, if he wishes, to be strengthened by the Endeavor Catalyst with funds reaching up to 10% of the round and up to $2M in total. 

Endeavor’s global organization has built teams in a total of 41 markets around the world which have the mission of identifying who are the high-impact entrepreneurs in the local market, that is, those who have started the most innovative and promising companies and are in the process of growing them. These individuals create great success stories in their markets and inspire the new generation of entrepreneurs. 

The organization believes that these high-impact entrepreneurs have such an impact that they can transform the entire local economy and change the lives of hundreds of thousands of people. That is why it supports them on a non-profit basis throughout their journey with access to markets, capital, investors, knowledge, and networking so that these entrepreneurs can make quicker and more informed decisions in order to ensure the greatest possible success and impact. Endeavor Catalyst is another great tool for empowering Endeavor’s impactful entrepreneurs in local communities. 

Why is it important for Greece?

Endeavor Catalyst has a unique value for the Greek ecosystem. On the one hand, the size of the portfolio is such that it offers Catalyst Greek investors not only an investment opportunity but an excellent understanding of the other 40 markets in which endeavor operates and the emerging technologies and companies in these countries in which they can co-invest.

Over 30 Greeks have invested in Endeavor Catalyst. Among them are the majority of the largest and most extroverted family offices in the country. Greek tech founders of some of the biggest successes in the country and abroad as well as important Greek companies that have started investing in funds and startups through their investment vehicles. It is an excellent community of investors that grows every day and creates a positive impact on the economy, carrying out new actions, initiatives, synergies, and more investments in Greece and abroad. Endeavor and Endeavor Catalyst act as reinforcements in this direction.  

“We estimate that within the next 2-3 years, we will invest in 10 more Greek startups. At the same time? We will continue to work to offer support to our entire portfolio which consists of over 150 companies, as well as value to the entire innovation ecosystem of the country” said P. Karampinis.