US-based venture capital fund Endeavor Catalyst has closed its fifth fund at $320 million. Its portfolio includes three Ukrainian-founded companies: online education platform Preply, digital product developer Headway Inc. and entertainment technology company HOLYWATER TECH.
Following the closing of Fund V, Endeavor Catalyst’s total assets under management exceeded $850 million. The new fund is the largest in the history of the venture capital arm of Endeavor, a global entrepreneurial network.
Endeavor Catalyst invests in companies founded by entrepreneurs within the Endeavor network, alongside other venture capital funds and institutional investors. According to the fund, approximately 90% of its investments are made in companies outside the United States.
Across its funds, Endeavor Catalyst has invested in 437 companies in 44 markets. Its portfolio includes 83 companies valued at $1 billion or more, with 39 investment exits and 11 initial public offerings (IPOs).
One of the Ukrainian-founded companies in the fund’s portfolio is Preply, established by Ukrainian entrepreneurs Kyrylo Bigai and Dmytro Voloshyn. The company operates an international online language learning platform connecting students with tutors. In January 2026, Preply achieved unicorn status after raising $150 million in a Series D funding round at a valuation of $1.2 billion.
The second company is Headway Inc., a Ukrainian EdTech developer of digital products for learning and personal development. Its products include Headway, a book summary app; Impulse, a cognitive skills training platform; and Nibble, an educational app.
The third Ukrainian-founded company is HOLYWATER TECH, established in Kyiv in 2020. It develops digital entertainment products, including book and audiobook applications, short-form vertical video series and artificial intelligence-powered products.
Fund V has already begun investing in companies including Replit, Moove, Preply, Cashea, Respond.io, EnduroSat, HappyRobot and Lunar Outpost. According to Endeavor’s estimates, the new $320 million fund could help attract at least $3.2 billion in additional capital for its portfolio companies, as Endeavor Catalyst typically participates in approximately 10% of each funding round.
Endeavor is also strengthening its presence in Ukraine. The organization opened an office in the country in 2024 and supports Ukrainian-founded businesses. Other companies associated with Endeavor’s Ukrainian entrepreneurial ecosystem include Ajax Systems, Solidgate and Kiss My Apps.
