Unicorns aren’t the end of an ecosystem’s success. They’re the beginning.

For a long time, the standout startups Elsewhere that achieved unicorn status and beyond were exceptions to the rule, a surprise happy ending in an unexpected location.

Skype in Estonia.

InMobi in India.

Spotify in Sweden.

These companies were celebrated as outstanding. One-off examples not considered a precursor of what was to come. Investors noted them as blips, then moved back to the accepted startup hubs of Silicon Valley and China.

At Endeavor, we have a different outlook. Unicorns aren’t just a vanity metric or an exceptionalist narrative. Instead, they’re an indication that an ecosystem is maturing. The kind of entrepreneurial ecosystem that is capable of creating a billion-dollar company also offers other important qualities for harboring future success stories, like a stable economy, global trust and attention, and international capital.

As of mid-2026, Endeavor has now supported 100 unicorns from around the world.

A unicorn is not an anomaly, but the first new milestone of a maturing ecosystem. A unicorn company builds more trust, more attention, and more VC interest in places capital traditionally overlooks. The emergence of one unicorn also inspires a new generation of founders, whether by example or on-the-job training. Together, this adds up to what Endeavor calls the Multiplier Effect, which makes it possible for others to scale their own businesses.

In 2017, we had just three unicorns in our network. Today, fewer than ten years later, we have 100. That milestone has also given us front-row seats to the growth of entrepreneurship in Elsewhere markets. Endeavor’s unicorns were initially confined to Latin America, led by powerhouses like Mercado Libre and Globant. But over the past decade, their momentum has spread globally.

We saw 20 unicorns in Latin America. Nine in Europe and another nine in the Middle East and North Africa. Six in Asia. And, interestingly, six in the US, as a reminder that extraordinary founders can truly crop up anywhere — not just in Silicon Valley or China, not just in Elsewhere markets like Brazil or Indonesia, but in Atlanta, Detroit, or Colorado.

Today, Endeavor’s unicorns are scattered all over. We’ve seen bursts of growth in specific regions, as unicorns beget other successful companies — like Kovi, a mobility and fintech company founded by two ex-employees at 99, Brazil’s first unicorn. We’ve seen decacorns arise from Elsewhere, like ElevenLabs from Poland and Checkout.com, founded in the UAE and now headquartered in London.

Many of these unicorns from Elsewhere were the first in their ecosystem, but none have been the last. We started in Argentina with Mercado Libre back in 1999, where there are now seven more. Kavak was Mexico’s first unicorn, but five others have followed. Endeavor’s unicorn story in the UAE began with Property Finder, and now also includes Careem, Tabby, and three others.

The first companies to reach unicorn status in their respective ecosystems are far from one-offs. Instead, they’re a sign that international VCs should pay close attention to: an indication of mature, profitable ecosystems in unexpected places. In a time when AI is drawing eyes back to California, these 100 unicorns signal that success Elsewhere is not just possible, but also contagious.