RTP Global closes $1bn fund, will make third of investments in India | Latest Business News

RTP Global, the early-stage venture capital firm, on Wednesday announced the closure of its latest billion-dollar fund and will make a third of its investment in India.

RTP IV is part of the company’s strategy to invest globally in the founders with a focus on seed funding and the first group. The fund will be deployed in India, North America, Europe and Southeast Asia. The fund will invest in sectors including artificial intelligence/machine learning, enterprise software, financial technology, e-commerce, and educational technology. The fund allocates $660 million to RTP Global’s early-stage investment strategy and $340 million to support ‘fast’ portfolio companies.

“We expect to split the investment amount evenly between the regions we operate in (Asia, Europe and the US), since we have teams of equal size in each geography and can deliver great opportunities across all of them. We believe India and SEA (South East Asia) are vibrant with opportunities entrepreneurial, and we are actively exploring innovative ideas and potential partnerships that align with our vision,” RTP Global said in a statement.

RTP Global has invested in more than 110 startups, 1 in 10 of which have become multi-billion dollar companies. Its notable early-stage investments include Datadog, a cloud application monitoring and security platform, DeliveryHero, an online food ordering service, and CRED, a rewards-based Indian credit card payment app.

“We would not have reached this milestone without the incredible success of the company’s founders. Galina Chevina, Investment Partner at RTP Global in Asia, stated:

The RTP IV represents an increase of over 50 percent from the company’s previous fund which closed in 2020. Since then, the company has grown its presence to include offices in London, Paris, Amsterdam, New York, Dubai and Bangalore. Investments from RTP III included Yonder and Fintecture in Europe, DoControl and TealBook in the US, and DeHaat and GoKwik in Asia.

“At a time when the fundamentals of the venture capital ecosystem are being rewritten globally, the launch of RTP IV comes as a strong affirmation of our company’s unique characteristics in a crowded venture capital market,” said Nishit Garg, investment partner, RTP Global in Asia.

“For India-SEA, we plan to invest primarily via seed rounds and first rounds, writing first checks between $1m and $10m (million). We pride ourselves on being flexible equity partners so we can be flexible up or down in seed rounds.”