Investments

RTP Global Unveils $650M Startup-Focused VC Fund

venture capital

To continue supporting technology in regions all over the world from North America to Southeast Asia, Leonid Boguslavsky-founded RTP Global unveiled a new $650 million fund to keep investing in early-stage tech companies. The venture capital firm’s last fund totaled $200 million and was rolled out in 2017, according to reports.

The fund reportedly intends to invest in early-stage technology firms in categories like FinTech, artificial intelligence (AI) and software-as-a-service (SaaS), among other areas. Boguslavsky said per reports that the firm is geared toward Europe, North America, Southeast Asia and India when it comes to its geographical focus and has specific teams supporting the regions.

“Our investment focus is ​on early-stage technology companies,” Boguslavsky said, according to reports. “The core is Series A, but we also consider late-Seed companies and Series B. The ticket size varies according to geography, though our initial ticket is usually in the $2 million to $7 million range.”

Offices already in place in Moscow, Bangalore and New York in addition to new Singapore and London offices will supervise the new “Fund III.” The venture capital firm, for its part, usually takes a board seat with firms it supports, and Boguslavsky noted per reports that its involvement extends past providing board meeting advice.

In separate news, venture capital firm Canapi Ventures announced $545 million in funding earlier this year that will serve as its inaugural venture capital funds, gleaned from a sizable investor base. Canapi Ventures, which has an early to growth-stage FinTech company focus, will be working to provide funds to a new generation of firms in the financial services space.

Canapi Alliance is among the investors in a collective comprised of over 35 banks and investors looking to strategically put roots down in the FinTech field. The alliance includes 11 of the top 50 banks and 23 of the top 100 banks in the United States, as measured by asset size.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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