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RTP Global closes $1bn fund, will make third of investments in India

Fund will invest in sectors that include artificial intelligence, enterprise software, fintech

Debt fund

Illustration: Binay Sinha

Shivani Shinde Mumbai

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RTP Global, an early-stage venture capital firm, announced on Wednesday the close of its latest fund that has a corpus of $1 billion and will make a third of its investments in India.

RTP IV is part of the company’s strategy of investing globally in founders and with the focus on seed and Series A funding. 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, fintech, e-commerce, and edtech. The fund earmarks $660 million for RTP Global’s early-stage investment strategy and $340 million to support "breakout" portfolio companies.

“We anticipate splitting the investment amount equally between the regions we operate in (Asia, Europe and US), given that we have equally sized teams in each geography and can source great opportunities across them all. We believe that India and SEA (Southeast Asia) are vibrant with entrepreneurial opportunities, and we are actively exploring innovative ideas and potential partnerships that align with our vision,” said RTP Global in a statement.

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

“We couldn’t have reached this milestone without the incredible success of our founders. India and Southeast Asia are vibrant with entrepreneurial opportunities, and we are actively exploring innovative ideas and potential partnerships that align with our vision, specifically focusing on seed and Series A investments,” said Galina Chifina, investment partner at RTP Global in Asia:

RTP IV marks a more than a 50 per cent increase over the company’s previous fund that closed in 2020. Since then, the firm has grown its presence to include offices in London, Paris, Amsterdam, New York City, 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.

"In times when the fundamentals of the venture capital ecosystem are being rewritten globally, the launch of RTP IV comes as a strong validation of our firm’s unique characteristics in the crowded VC market,” said Nishit Garg, investment partner at RTP Global in Asia.

"For India-SEA, we plan to invest primarily across seed and Series A rounds, writing first checks between $1M-10M (million). We take pride in being flexible capital partners so we can flex up or down in initial rounds." 

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First Published: Jun 28 2023 | 4:45 PM IST

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