RTP Global: The $1B Early-Stage Firm With a 1-in-10 Unicorn Hit Rate

Some venture firms chase momentum. RTP Global prefers to manufacture it. Founded in 2000 by Leonid Boguslavsky (formerly ru-Net), the global early-stage investor has built one of the most enviable hit rates in venture: one in ten of its portfolio companies has become a unicorn, and one in twenty a decacorn. The names behind those numbers tell you everything — Datadog (Series A, 2012), Delivery Hero (Series A, 2011) and CRED (Seed, 2018).

Fund size and structure. In 2025, RTP Global announced Fund IV with $1 billion in commitments — 50 percent larger than its predecessor. The fund splits into $660 million for early-stage deals across the US, Europe and Asia, and $340 million reserved for follow-on rounds in breakout portfolio companies. Remarkably, the capital comes almost entirely from reinvested proceeds of RTP's own previous investments — the firm has no traditional limited partners, so its interests align squarely with founders, not fund-return calendars. The longest the firm has held an investment is 19 years.

Thesis, sectors and stages. RTP spots potential early and invests at seed, Series A and Series B in technology companies across AI, B2B SaaS, cybersecurity, devOps, fintech, e-commerce and retail, healthtech, edtech and transport. It operates a high-speed, low-drag mindset — the firm's own words — reaching funding decisions quickly so it never holds up a founder's momentum. Investment teams sit in London, New York, Amsterdam and Dubai, with Bengaluru as the key Asia base.

Notable portfolio. In India, RTP has made nearly 50 investments across India and Southeast Asia, backing CRED, gaming platform Mobile Premier League (MPL), bookkeeping app Khatabook, agritech platform DeHaat, fixed-income marketplace Dexif and, most recently, the $9.6 million seed round of GenAI cloud startup Kluisz.ai in 2025. Across Southeast Asia the firm has backed e-scooter provider Beam, cross-border payments startup Tazapay and dental products maker Zenyum. Its own tally exceeds 110 investments worldwide.

People. Founder Leonid Boguslavsky sets the tone — a founder himself who has historically contributed the bulk of each fund's capital. In India, Madhur Makkar, Principal at RTP Global, has led recent deals including the Kluisz.ai round. The team has quadrupled its headcount in recent years, adding investment and operations talent across every region.

Programs and perks. RTP Global does not publicly advertise founder programmes, demo days or cloud-credit bundles — its pitch is the model itself: fast decisions, no LP pressure, follow-on reserves of $340 million earmarked for winners, and a partner willing to hold for decades. For Indian founders at seed to Series B building technology with global ambition, that combination of speed and patience is rare.