Endeavor Catalyst closes $320 million fund for its founder network

Endeavor Catalyst has closed its fifth fund with $320 million in capital commitments, bringing assets under management to more than $850 million. The venture arm of nonprofit Endeavor plans to invest in up to 150 companies through the new fund, its team told TechCrunch. Participation is limited to companies founded by members of Endeavor's network. They must raise at least $5 million in a round led by another institutional investor before Catalyst can invest on the same terms. Checks usually range from $1 million to $3 million and cannot exceed 10% of a round. The firm says about 90% of its investments are outside the U.S.