Endeavor Catalyst, the venture arm of a 30-year-old nonprofit, has raised $320 million for its fifth fund, aiming to support founders outside tech hubs. This comes as venture capital firms in San Francisco increasingly focus on artificial intelligence startups, potentially overlooking other regions.

The fund, managed by Allen Taylor and Jackie Carmel, will invest in 40 to 50 companies annually, with a track record of backing over 437 startups in markets like Poland, Italy, and Africa. Notable holdings include ElevenLabs, valued at $22 billion, and Checkout.com, at $12 billion. The fund’s global network, including connections with tech heavyweights, promises to bring substantial opportunities to non-US founders.

Endeavor, through its network of mentors and resources, has cultivated a global ecosystem for innovation, with 3,100 entrepreneurs in over 50 countries. This fund’s focus on repeat founders and second ventures signals a growing recognition of the value in nurturing established entrepreneurs beyond the traditional tech centers.