Facilitating Access to Frictionless Capital for High-Impact Entrepreneurs in Nigeria
At Endeavor, our goal is to support the scaling journeys of the very best high-impact entrepreneurs building their companies in underserved markets, including Nigeria. Our selection process is rigorous and intense; and for those high-impact entrepreneurs that earn the Endeavor Seal of Approval, we open up a customisable menu of products & services for Endeavor Entrepreneurs organised around four main pillars: access to capital, access to talent, access to markets and access to networks, with a deep relationship of trust at its core. We select inspirational entrepreneurs, who are leading high-growth companies at the scaleup stage, and actively provide the support they need to accelerate their companies.
On the capital side, we support Endeavor Entrepreneurs by minimising the frictions they face in raising smart, more entrepreneur-friendly capital, as much as possible. Raising capital is never an easy process; this is especially true in an emerging market like Nigeria. We facilitate frictionless capital for Endeavor Entrepreneurs in three main ways: through our Capital Mentoring Program, Investor Network Program and Endeavor Catalyst, our innovative, rules-based co-investment fund that invests exclusively in Endeavor Entrepreneur-led companies.
Endeavor has been supporting high-impact entrepreneurs for over 20 years. Endeavor started in Latin America, and for the first 15 years, we operated a ‘venture capital without the capital’ model, providing all the support our entrepreneurs needed to scale, except capital. In 2012, Endeavor Catalyst was launched, with a mission to go even further by backing Endeavor Entrepreneurs in their fundraising rounds. After only 7 years, Endeavor Catalyst has become one of the most active investors in a number of our markets, including Italy, Latin America and the Middle East. Catalyst has also been instrumental in bringing in new pools of capital to under served markets, co-investing in a16z’s first investment into Brazil with Contxto and TPG Rise Fund’s first investment into Africa with Cellulant. As investment into African companies continues to increase — driven in part by companies raising larger rounds — there has never been a better time for the capital, mentorship, and networks that Endeavor provides.
Endeavor Catalyst’s recent participation in Flutterwave’s $35 million Series B is an example of how Endeavor’s support model and specifically, access to capital offering, comes together seamlessly for the benefit of Endeavor Entrepreneurs. As Endeavor Entrepreneurs, Olugbenga “GB” Agboola (Co-Founder & CEO) and Ife Orioke (Chief Commercial Officer), have access to a number of resources that support them with their entrepreneurial journeys and the continuous growth of Flutterwave. We are excited to be part of Flutterwave’s growth story and remain inspired by the hard work they have put into new market entry and hiring dedicated talent this past year, leveraging Endeavor’s deep networks and experienced on-the-ground teams in Kenya, South Africa and Egypt, to drive their efforts. Flutterwave’s ambition is to scale their products across the continent, solving real problems with payments for millions of Africans. The company’s journey so far is proof that with the right support, high-impact entrepreneurs who are not just thinking big, but also doing the hard work of scaling their companies, are game-changers in any ecosystem.
Endeavor Catalyst is our innovative, co-investment fund that participates exclusively in equity funding rounds by Endeavor Entrepreneur-led companies through a rules-based investment process. Capital from Endeavor Catalyst is guaranteed for all Endeavor Entrepreneurs who are raising $5 million or more in an institutional equity round. Since its launch 7 years ago, Endeavor Catalyst has invested in over 120 companies, across 25 markets, including unicorns like Cabify, Rappi, Checkout, EBankX, and Bukalapak. Endeavor Catalyst has also participated in Series A to Series C rounds by Cellulant, LORI Systems, SWVL, Instadeep, Vazeeta, Copia and Enterskert. The recently announced fundraising round by Flutterwave is our first investment in Nigeria.
Endeavor Investment Network
As a rules-based co-investment fund, Endeavor Catalyst can only invest in rounds led by other institutional investors. We do not lead rounds, but we help our Endeavor Entrepreneurs find investors by actively connecting them with a formal network of over 400 venture capital and growth equity funds worldwide, including funds like General Atlantic, Greylock Partners, Summit Partners, TPG and Quona Capital. Aside from our direct investing activity through Catalyst, four times a year we host Endeavor Investment Network events — in global hubs such as San Francisco, London, and Dubai — where Endeavor Entrepreneurs who are raising rounds within 12–18 months meet with a curated group of network members. We also curate roadshows and actively make investor introductions for Endeavor Entrepreneurs to identify the relevant subset of investors in our network based on their company’s stage, sector, and geography.
Capital Mentoring Program
When raising capital, it can be difficult for entrepreneurs to find advisors who have no stake in the outcome. At Endeavor, we are able to tap into our extensive global network of 4,000+ business leaders — including many serial entrepreneurs and seasoned professionals across industries who are experienced in fundraising. These ‘mentor capitalists’ are able to provide Endeavor Entrepreneurs with unbiased feedback and advice on a variety of topics; from term sheets and pitch prep, to helping them think through their capital raising strategy, and supporting them as they negotiate terms with their investors.