Russian entrepreneur and investor Leonid Boguslavsky led venture capital firm RTP Global has announced a $650 Mn Fund III to invest in startups in India, Europe, North-America, and other Southeast Asian countries.
While RTP Global is planning to invest in startups primarily in their Series A rounds, it’ll also back startups in their Pre-Series A and Series B rounds as well. The fund is expected to back startups in mobility, AI, SaaS, fintech, foodtech, healthtech, proptech, insurtech and sports-tech sectors. While the investment will vary based on the location of the startup, the fund is expected to invest in the range of $2 Mn to $7 Mn.
Boguslavsky told TechCrunch that the fund has dedicated investment teams for regions such as India, North-America and South-East Asia. “Our investment focus is on early-stage technology companies,” Boguslavsky added. The fund will be managed from RTP Global’s offices in Bengaluru, New York, Moscow, London, and Singapore.
Boguslavsky said that the involvement of RTP Global in its portfolio startups is beyond boardroom advice. “Even though we invest in different markets, it should be noted that we make investments in each geography as a team. This gives us a deep understanding of the market and of business model developments worldwide,” Boguslavsky said.
Through its Fund II launched in 2017 and closed at $200 Mn, RTP Global has invested in a slew of Indian startups. Notably, RTP Global had participated in Cred’s $120 Mn Series B funding round. In January 2020, RTP Global had participated in the $70 Mn funding round of Bengaluru-based fintech startup MoneyTap. It invested in Khatabook in October 2019, and also participated in the $35.5 Mn Series A funding round of Mumbai-based gaming platform Mobile Premier League (MPL). Its portfolio also includes deeptech startup Agara Labs, and healthtech startup Stasis Labs, among others.
As of now, RTP Global has invested in around 90 startups operating in over ten countries. Out of these 90 startups, eight of them are unicorn companies, Boguslavsky noted. Moreover, five portfolio companies — Yandex, EPAM, Delivery Hero, RingCentral, and Datadog — are now also public companies.