RTP Global collects USD 1bn for early-stage investments
RTP Global, a global early-stage venture capital firm that has made nearly 50 investments in India and Southeast Asia, has announced the launch of its fourth fund with USD 1bn in commitments.
The firm was established in 2000 by Leonid Boguslavsky, who previously co-founded Russian investment platform ru-Net Holdings, and has historically contributed the bulk of the capital to each fund. Fund IV, which is 50% larger than Fund III, will be split into two parts: USD 660m for early-stage deals across the US, Europe, and Asia; and USD 340m for follow-on rounds in “breakout” portfolio companies.
“The capital for this fund – as with our other funds – derives almost entirely from the reinvestment of proceeds from RTP Global’s previous investments,” RTP said in a statement.
“By reinvesting our returns, we can deploy our capital to closely align with the ambitions and interests of the founders we back, serving them first, as opposed to the LP in the more traditional structures. It also means we can stay with our founders for a long time. In fact, the longest we’ve held an investment is 19 years.”
RTP has backed a string of notable Indian start-ups such as credit card rewards business Cred, gaming platform Mobile Premier League (MPL), bookkeeping app provider Khatabook, and agricultural technology platform DeHaat. In Southeast Asia, it has backed the likes of e-scooter provider Beam, cross-border payments start-up Tazapay, and 3D-printed dental products manufacturer Zenyum.
The firm claims to have quadrupled its employee headcount in the past three years, with new investment and operations professionals added across all regions. Offices have opened in London, New York, Amsterdam, and Dubai. The key Asia base remains Bangalore. RTP is placing increased emphasis on in-region portfolio support functions in areas like go-to-market strategies and human resources.
“There’s no denying that we are operating in a tough environment right now. Start-ups continue to face challenging times, against a backdrop of valuation resets and further layoffs. What’s more, the fundamentals of the venture capital ecosystem are being rewritten globally,” the firm noted. “But even in uncertain times, amazing companies are born.”
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