Itaú joins Endeavor Catalyst Fund V after $320 million raise

Itaú Unibanco invested in Endeavor Catalyst Fund V through its corporate venture capital unit, Itaú Ventures. Endeavor Catalyst raised $320 million for the vehicle, surpassing its initial target of $300 million. Itaú is the only Latin American bank participating as an investor.

The transaction represents the first deployment under the fund-of-funds strategy that Itaú Ventures launched earlier this year to widen access to global innovation hubs. Under this framework, Itaú allocates capital into specialised funds that pick and oversee startups. According to the bank, the program acts as a global radar to spot emerging business models and technologies, complementing its direct venture stakes, strategic partnerships, new business development, and mergers and acquisitions.

Philippe Schlumpf, head of Itaú Ventures, stated in a release that the investment expands the unit's reach into teams building the future of financial services and other key industries. He added that the fund-of-funds approach strengthens the lender's ability to turn external insights into concrete opportunities for its transformation.

With Fund V, Endeavor Catalyst manages over $850 million across 432 portfolio companies in 44 markets, including 83 businesses valued above $1 billion. Entrepreneurs supported by Endeavor account for roughly 30% of the investors in Fund V. Latin America remains its largest region, representing 169 companies and $191.3 million invested across all vehicles, or 39% of portfolio businesses and 38% of total fund capital. In Fund V, Latin America has received $21.5 million across 14 investments, the vehicle's largest regional allocation.