Endeavor Catalyst operates as a rules-based co-investment fund that only backs companies led by Endeavor Entrepreneurs, with its deployment pattern following Endeavor's nonprofit selection process across 40+ markets rather than traditional thesis-driven sourcing. The fund charges no management fees and instead uses a 50% carry structure that flows back to sustain Endeavor's global nonprofit operations, making it one of the few large VC funds explicitly designed as a financial engine for a mission-driven organization.