Early-stage venture capital firm RTP Global has launched a $1bn (£787m) fund for technology companies.

The fund, called RTP IV, will primarily focus on disruptive technology start-ups at seed and Series A stage.

Fund IV will be deployed across Europe, North America, India and Southeast Asia. The fund has a broad sector focus, including AI and machine learning, enterprise software, fintech, e-commerce and edtech.

The $1bn fund will consist of $660m (£519m) for new early-stage investments and $340m (£268m) follow-on support to the global VC’s current portfolio companies.

The capital for the new fund derives almost entirely from the proceeds of RTP Global’s previous investments. Since its inception in 2000, the VC has invested in over 110 start-ups including Datadog, a monitoring and security platform for cloud applications, DeliveryHero, the online food ordering service, and Cred, a rewards-based credit card payment app.

The $1bn fund represents an increase of more than 50 per cent to RTP Global’s previous fund, RTP III, which closed in 2020. Since then, the firm has grown its presence to include offices in London, Paris, Amsterdam, New York City, Dubai and Bangalore.

Alex Pavlov, investment partner at RTP Global in Europe, said: “Our global network means we can support our founders as they expand into new markets. This is key to our mission of partnering with ambitious founders early on and supporting them throughout their journey to become category leaders. With the new capital of RTP IV, we can provide founders with more opportunities and resources to help them achieve this goal.”

Gareth Jefferies, Partner at RTP Global added: “It is a fantastic time to grow a category-leading company in Europe. In recent years, the ecosystem has flourished and the talent that exists today is abundant. This is why RTP IV comes at such an exciting time; the opportunity is ripe.

“The fact that our capital is raised based on the success of our previous investments, rather than traditional LP structures, means that we can deploy it to closely align with the interests of the founders we back. This, combined with our international outlook and long-term partnership, makes us the best partner for companies that have the ambition to become category leaders – not only in the European market, but globally.”

More on tech funding

Target Global to deploy €130m into tech companies – The global VC will back tech companies in fintech, edtech, healthtech and business software, both at seed and venture stage

Conviction VC to invest in six B2B SaaS start-ups in 2023 – London-based VC eyes investing up to £2m in B2B SaaS start-ups at seed stage