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MIF partners with Endeavor to invest in region’s entrepreneurs

Jan 13, 2015

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, has approved a US$3.7 million equity investment in Endeavor Catalyst I L.P., an impact investment vehicle established by the entrepreneurship training and networking organization Endeavor Global Inc. The MIF will also provide US$350,000 in technical assistance funding to support Endeavor’s “Network Maps” research project, which will track relationships between entrepreneurs, investors, and support organizations in five cities and industries in Latin America.

Endeavor’s mission is to identify and support entrepreneurs in emerging markets with potential for high growth and impact, meaning that they and their companies could become important drivers of innovation, job creation, and economic activity; and that they could make significant contributions to future generations of entrepreneurs as mentors and/or investors. The MIF and Endeavor are longstanding partners, having previously co-executed three technical assistance projects supporting Endeavor’s expansion in Latin America.

The new Endeavor Catalyst fund will provide smart capital to scale the companies of up to 20 Endeavor Entrepreneurs in Latin America. The Network Maps research project will provide valuable information on the functioning of the ecosystems around entrepreneurial communities in the region. 

By taking part in the innovative Catalyst funding vehicle, the MIF will invest in some of the entrepreneurs whose development it helped support through earlier Endeavor technical assistance projects, bringing the MIF-Endeavor partnership full circle; and helping to build a “multiplier effect” through which early-stage entrepreneurs reach maturity and are able to themselves serve as leaders in the region’s entrepreneurship and venture capital industries.

About the MIF

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, is funded by 39 donors and supports private sector-led development benefitting low-income populations and the poor - their businesses, their farms, and their households. The aim is to give them the tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology. A core MIF mission is to act as a development laboratory - experimenting, pioneering, and taking risks in order to build and support successful micro and SME business models. More information at www.fomin.org.

About Endeavor

Established in 1997, Endeavor is the global nonprofit that pioneered the concept of High-Impact Entrepreneurship in growth markets. Headquartered in New York City, with 22 offices across Latin America, the Middle East, Africa, Europe, and South East Asia, the organization transforms economies by identifying and supporting high-potential (or "high-impact") entrepreneurs. Practicing a tested “mentor capitalist” model, Endeavor affiliates help entrepreneurs overcome barriers to growth by providing the key ingredients to success: mentorship; networks; strategic advice; talent; skills; access to smart capital; and inspiration. Guided by Endeavor, these entrepreneurs generate sustainable economic growth and jobs, become role models, and help nurture a culture of entrepreneurship which spurs investment and encourages people to innovate and think big.
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