Careem co-founders invest in Endeavor Catalyst’s latest fund

SectorFinancial Markets
CountryUnited Arab Emirates

Endeavor Catalyst, the investment vehicle of global non-profit organization Endeavor that supports high-impact entrepreneurs around the world, has closed its third fund, Endeavor Catalyst III, with $134 million, it’s Managing Director Allen Taylor announced on Wednesday. The investment vehicle co-invests in equity financing rounds of startups founded and led by entrepreneurs that are part of Endeavor’s network. The founders of Careem; Mudassir Sheikha, Magnus Olsson, and Abdullah Elyas, who have been a part of Endeavor’s network since 2018, have invested in Endeavor Catalyst’s latest fund, its MD stated in the announcement. The size of their investment was not disclosed. The announcement by Endeavor Catalyst explained that Mudassir Sheikha sees investing in Endeavor Catalyst as a “great way to ‘pay-it-forward’ and invest in high-quality entrepreneurs in frontier markets.” All three co-founders of Careem have more...