RTP Global, the Moscow-headquartered VC firm formerly known as ru-Net and focused on early-stage technology investments, is launching a new $650 million fund to support founders across Europe, North America, India and South-East Asia.

The new fund comes in at more than triple the size of the previous fund, as it comes with a track record (RTP Global has backed the likes of Yandex, Delivery Hero and Datadog). Other investments in Europe include Cuvva and Drover (UK) and CoachHub, SumUp and Tier (Germany), among others.

RTP Global’s Fund III will be managed by an investment team from offices in New York, Moscow, and Bangalore as well as an expanded team in Europe and Singapore. Sector-wise, it is going quite broad, as it says it will invest in early-stage companies in verticals “such as mobility, AI, SaaS, fintech, foodtech, healthtech, proptech, insurtech and sporttech”.

The news follows other recent new large fund announcements, notably by Lakestar, Atomico, Speedinvest and Innovestor.

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