RTP Global bags US$650M early-stage fund to support technology entrepreneurs in Southeast Asia and India
RTP Global, formerly known as ru-Net is an international venture capital firm investing in and supporting technology entrepreneurs, continues to dramatize its presence in India and Southeast Asia.
The firm recently announced its new US$650 million investment fund as it launched its third vehicle RTP III.
RTP Global’s founder and CEO Leonid Boguslavsky announced that the fresh fund is geared in Series A investments, however, the firm also considers the possibility of late-Seed companies and Series B.
Boguslavsky said that the ticket size varies according to geography, although RTP’s initial ticket ranges usually around US$2 million up to US$7 million.
The fresh fund, which is three times bigger than its archetype is intended to be used in deploying its early-stage technology firms under categories such as software-as-a-service (SaaS), FinTech, FoodTech, HealthTech, PropTech, InsurTech, SportsTech, and artificial intelligence (AI).
The company also plans to invest more in companies globally and is ready to set capital in founder-driven businesses. The fund will be managed from RTP Global’s offices in Bengaluru, New York, Moscow, London, and Singapore.
In a statement, Leonid Boguslavsky said, “Following the success of the previous funds we are thrilled to deploy more capital than ever. After starting my career as a computer scientist I became a serial entrepreneur, so I understand the unexpected challenges, the ups and downs, and the need for hard work, especially in the early stage of a company’s life.”
RTP claimed to have invested in 34 companies worldwide, inclusive of 10 companies in India and Southeast Asia, in its previous funding. It includes Cuvva (U.K.), Smarter Sorting (U.S.), Cred (India), CoachHub (Germany), and Zenyum (Singapore).
Currently, the India and Southeast Asia portfolio entails KhataBook, Cred, Snapdeal in India, Mobile Premium League, Housejoy, MoneyTap, Rebel Foods, Zenyum, Super League Triathlon in Singapore, Practo, and Telio in Vietnam.
Founded in 2000 as ru-Net, and head-quartered in Russia, the VC firm relaunched to RTP Global in late 2018 and has backed a total of 90 companies, to date. And eight out of the 90 startups are unicorn companies.