Endeavor Catalyst raises $320 million for Fund V with Itaú participation

Endeavor Catalyst has closed its fifth venture capital fund, Endeavor Catalyst Fund V, raising $320 million, surpassing its initial $300 million target. The fund brings the organization’s total assets under management to over $850 million.

Itaú Ventures, the corporate venture capital arm of Itaú Unibanco, is a key investor in the new fund. As the only Latin American bank among the investors, Itaú is utilizing this capital as part of its new ‘Fund of Funds’ strategy to gain a ‘global radar’ for emerging technologies and business models that could influence the future of financial services.

The new fund will place a significant emphasis on the European market, which has become the firm’s fastest-growing investment region. Endeavor Catalyst has already made over 90 investments across 10 European countries. Recent investments linked to Fund V include Bulgarian-founded EnduroSat and Spanish-founded HappyRobot.