Endeavor Catalyst's $320M Fund V Backs Three Ukrainian Startups

Endeavor Catalyst has committed $320 million to its fifth investment fund, and three Ukrainian startups — Preply, Headway Inc. and HOLYWATER TECH — are included in the portfolio, Kyiv Post reports.

The inclusion puts Ukrainian founders inside one of the more distinctive vehicles in growth-stage venture capital. Endeavor Catalyst is the dedicated fund of Endeavor, the global entrepreneur-network organization, and it invests exclusively in companies led by Endeavor Entrepreneurs. Fund V, at $320 million, is the largest Catalyst vehicle to date.

The three Ukrainian companies span three very different markets: language tutoring, professional learning, and digital entertainment.

Who are the three Ukrainian companies?

Preply is the best-known name of the trio. The company operates a marketplace for online language tutoring, connecting learners with human tutors across dozens of languages. It has been one of Ukraine's most visible tech exports, built by a founding team with roots in the country.

Headway Inc. builds products in the professional and personal-development space, focused on bite-sized learning formats for busy users.

HOLYWATER TECH operates in digital entertainment and interactive storytelling, a category that has drawn growing investor attention as reading and gaming habits converge on mobile.

Kyiv Post's report names all three as part of the Fund V lineup, marking Ukraine's presence in a fund that draws its portfolio from Endeavor's worldwide entrepreneur network.

What does inclusion in Fund V signal?

For the Ukrainian startups, the practical significance is a backer with global reach and a long holding horizon. Catalyst's model ties its capital to companies already selected into the Endeavor network, which means the fund's participation doubles as a network endorsement.

For Ukraine's tech sector, the milestone lands at a moment when the country's startup ecosystem has been exporting product and talent despite the disruption of war. Three companies from one country in a single $320 million fund's portfolio is a signal of how far Ukrainian founders have penetrated global venture portfolios.

Endeavor Catalyst's structure differs from a conventional growth fund. Rather than sourcing deals through a standard pipeline, it backs entrepreneurs who have already passed through Endeavor's selection process — a multi-stage, peer-reviewed vetting run by the organization's global network.

That makes the Fund V list a snapshot of which founder communities Endeavor considers strongest worldwide — and Ukraine now occupies a visible slot in it.

Why does a $320M fund matter here?

The size of the vehicle matters as much as the names. At $320 million, Fund V gives Catalyst more firepower per company than its earlier funds, implying larger checks into its portfolio companies as they scale.

For Preply, Headway Inc. and HOLYWATER TECH, the association carries weight beyond the money. Endeavor's network spans thousands of founders across emerging and developed markets, and Catalyst's investments typically run alongside the strategic support that network provides.

Kyiv Post's report frames the inclusion as a national milestone: Ukrainian startups standing inside a fund built for what Endeavor considers the world's highest-impact entrepreneurs.

The next test is execution. Preply competes in a language-learning market reshaped by AI tools; Headway operates in crowded consumer-education territory; HOLYWATER TECH is scaling in a content format still proving its unit economics. Fund V's capital and the Endeavor network give all three a stronger platform — what they build on it will determine whether this milestone becomes a trend for Ukraine's ecosystem or a one-fund highlight.