The global community of entrepreneurs Endeavor officially launched in Ukraine in 2024, and five Ukrainian companies have already joined its ranks. The Scroll.media editorial team talked to Pete Benedetto, head of Endeavor Catalyst in the EMEA region, and learn more about the community and its investment firm, Endeavor Catalyst.
The Endeavor Catalyst Fund
Endeavor Catalyst is Endeavor’s own investment fund, and it’s not limited to the US or Europe. As Pete explains, the team invests globally across all 45 markets where the Endeavor network operates, backing startups that are part of its community. The fund has made investments everywhere from Silicon Valley to Africa, with each deal approved by an investment committee chaired by Reid Hoffman, co-founder of LinkedIn.
«Currently, about 17–18% of our investments are in Europe, another 17–18% in the Middle East, and around 8% in Africa. So, the EMEA region accounts for roughly 45% of our capital. Our latest fund, Fund IV, is close to $300 million, which means about $150 million will go to EMEA,» Pete says.
Endeavor Catalyst also has a unique model with a philanthropic twist:
- 50% of profits are returned to LPs.
- The other 50% is returned to Endeavor, split evenly between the global office and a local office chosen by the LP. This helps sustain and grow the community worldwide and locally.
How Endeavor Catalyst Invests
Endeavor Catalyst is industry-agnostic — it doesn’t pick favorites when it comes to sectors.
«Our goal is to back startups that can scale fast, operate globally, and play in high-growth industries,» Pete explains. «Our investment thesis is simple: find the best entrepreneurs, no matter what industry they’re in.»
One key condition: only companies that are already part of the Endeavor network are eligible for investment. In Ukraine, five startups have already made the cut. «These founders have been through our selection process — we know them, we trust them,» Pete says.
The fund often backs startups in Fintech, e-commerce, MedTech, HealthTech, B2B services, and AI, among others. The only field Endeavor Catalyst hasn’t touched yet is Defense Tech — though Pete says that could change, especially since they’re now investing in SpaceTech.
The average ticket size is around $1.5–$2 million.
Crucially, Endeavor Catalyst never acts as a lead investor — it always invests as part of a larger round. «We’re partners. We want the round led by a fund, usually local, that really understands the market and the industry. So we keep strong ties with local funds,» Pete notes.
Wherever Endeavor operates, a local board of directors helps run the organization, fund the local office, and mentor founders. This local board identifies high-potential companies and guides them through Endeavor’s selection pipeline.
«After that comes the International Selection Panel (ISP), our global selection event. It happens every month — founders go through interviews and, if selected, officially join the Endeavor network and become eligible for Endeavor Catalyst funding,» Pete explains.
Unlike many VC firms, Endeavor Catalyst doesn’t take board seats, and its share of any round never exceeds 10%. So in a $20 million round, the fund would contribute no more than $2 million. «This lets us be a meaningful part of the round without crowding others out,» Pete says.
The fund also helps connect founders to Tier 1 investors worldwide. «Last year, we helped Turkish startup Insider raise $500 million, led by General Atlantic. In total, we helped over a hundred of our entrepreneurs close funding rounds,» he adds.
Which Ukrainian Startups Can Get Funded?
«First, talk to Sviat or his team,» Pete laughs, referring to Sviatoslav Sviatnenko, managing director of Endeavor Ukraine.
Then come the hard numbers: you need more than just an idea. A working business model, clear product-market fit, at least $5–7 million in annual revenue, fast growth, and global ambitions if you’re still focused only on the local market.
«One more thing. The world still doesn’t realize how many outstanding founders there are in Ukraine — how many amazing companies are being built in tough conditions, often with little outside help. It’s time to shout about it louder,» Pete says in closing.
Ukrainian companies already part of the Endeavor network include Headway, Fintech Farm, Ajax Systems, Solidgate, Jooble.
