RTP Global sets aside $1b for 4th fund

Photo credit: Afif Ramdhasuma on Unsplash

RTP Global, a venture capital firm that has backed unicorns like Datadog, DeliveryHero, and Cred, said it is launching its fourth fund – worth US$1 billion – to support startup founders.

Founded in 2000 by Leonid Boguslavsky, RTP Global said that its latest fund will be its largest to date. Called RTP IV, the fund will be deployed across Europe, the US, India, and Southeast Asia, said the firm in a blog post.

RTP Global, which currently has US$3 billion in assets under management, said it would split the new fund into two. It has US$660 million earmarked for early-stage investments and US$340 million for “breakout” portfolio companies.

Its previous fund, RPT III, closed in 2020 with US$650 million. The company has invested in more than 110 startups since its founding and said that more than 10% of its portfolio has turned into unicorns and 5% into decacorns.

“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,” said the firm.

This February, the company participated in the US$16.9 million series A round of Singapore fintech firm Tazapay, and in December last year, it joined the US$60 million series E round of Indian agritech startup DeHaat.

See also: Tazapay secures $16.9m in funding