Endeavor Launches in Romania, Expanding into Sixth European Market
Endeavor is pleased to announce the launch of a new office in Romania. Leveraging partnerships with three local founders, the European Bank for Reconstruction and Development (EBRD), Dedeman, and Globalworth, and with backing from local business leaders, Endeavor Romania will support founders and companies that have passed through the initial start-up phase and can demonstrate the potential for rapid expansion and scale.
“We’re thrilled to launch Endeavor in Romania to help local entrepreneurs scale up and multiply their impact by investing in, mentoring and inspiring the next generation. With access to Endeavor’s global network, the Endeavor Catalyst co-investment fund, and support from a strong founding board, we’re confident Endeavor Romania will have a meaningful impact on Romania’s most innovative entrepreneurs and the country at large,” said Endeavor Co-Founder and CEO Linda Rottenberg.
Founded in 1997, Endeavor’s network spans nearly 40 countries today, across Latin America, Europe, Asia, Africa, the Middle East, and the U.S., leading the global entrepreneurial movement by selecting, mentoring and accelerating the best high-impact entrepreneurs in the world. Since its inception, Endeavor has supported over 2,000 entrepreneurs worldwide, which generate combined revenues of over $26 billion, have created over 4.1 million jobs in their local economies and, in 2019, raised over $3.6 billion in capital. Endeavor Catalyst is a rules-based fund designed to support the Endeavor selected entrepreneurs with their equity financing rounds and contribute to the sustainability of the network.
The office, which will be Endeavor’s sixth in Europe, will be led by Mihnea Craciun, an executive with over 20 years experience in banking and finance, working for the EBRD and ING Bank.
“Endeavor is a wonderful addition to the Romanian entrepreneurial support eco-system, providing a best-in-class seal of approval, an unrivalled personal and professional network, frictionless co-investment capital, and peer-to-peer idea exchange in a truly global setting,” commented Craciun. “This is a unique value proposition for the Romanian market.”
Endeavor’s aim in Romania is to search for, select, mentor, and dramatically accelerate the best high-impact entrepreneurs by helping them to think bigger, make better decisions by accessing talent, investors, and global markets and multiply their impact by becoming role models, mentors, and investors in their local ecosystems. The local Board of Directors includes Marius Stefan, CEO and co-founder of Autonom Group, Monica Cadogan and Calin Fusu, the co-founders of Vivre, Vargha Moayed, Chief Strategy Officer of UiPath, Tiberiu Moisa, Deputy CEO at Banca Transilvania, Voicu Oprean, CEO and founder of Arobs, Andrei Dunca, the Co-Founder and CTO of LiveRail, and Costin Taracila, Managing Partner of RTPR. Dan Lupu, Partner in Early Bird Venture Capital, will join as Senior Advisor. The board is completed by the representatives of the three founding partners, Karina Paval of Dedeman, Dimitris Raptis, CEO of Globalworth Group and Mark Davis, Regional Director at EBRD.
“We encourage entrepreneurship as a key factor for economic development which in turn leads to a sustainable and competitive entrepreneurship ecosystem,” commented Mr. Raptis. “We are glad to contribute to the expansion of the Endeavor organization in Romania, a country where we operate as an office market leader precisely because we consider it to be the most attractive business environment in South-Eastern Europe. We are convinced that our joint efforts will lead to the creation and consolidation of successful companies that will strengthen the Romanian economy. We are happy to share our know-how and experience in order to assist start-up companies on their journey to business success.”
“Entrepreneurship, risk taking and innovation are woven in the DNA of Dedeman’s story and we are thrilled that with the support of Endeavor, more young companies will get to experience the exciting scale up journey. We are confident that the marriage of talent, mentorship and access to capital will accelerate the growth trajectory of the next generation of local entrepreneurs, planting the seeds for a more equitable and prosperous future for Romania,” added Mrs. Paval.
“The missions of Endeavor and EBRD are complementary in many ways. We work towards catalyzing the development of the entrepreneurial environment in Romania and are delighted to join forces,” said Mr. Davis of EBRD.