28 January 2021

Carey Olsen supports RTP Global on launch of first Guernsey venture capital fund

Carey Olsen's investment funds team in Guernsey has advised RTP Global on the launch of RTP Global Partners III (Fund III), the venture capital firm's latest early-stage tech startup focused fund.

Fund III, which recently held its first closing with commitments of US$650 million, is RTP Global's first Guernsey domiciled fund and will concentrate its investments in early-stage technology companies, primarily at Series A but also some late seed deals and Series B. Invested companies will have a focus in areas of mobility, artificial intelligence (AI), Software-as-a-Service (SaaS), fintech, foodtech, healthtech, insurtech and sporttech.

The Carey Olsen team advising RTP Global on all structuring, formation and regulatory aspects of Fund III's establishment was led by partner Tom Carey, with assistance from senior associate Matt Brehaut and associate Kristina Mikhaylova. They worked alongside onshore counsel DLA Piper whose team was led by partner Andrew Wylie and senior associate Sam Whittaker.

Tom said: "It was great to work with RTP Global on the formation and launch of this fund. The fund's successful closing is a fantastic effort and emphasises the strong reputation and track record enjoyed by the firm in the marketplace. It is also encouraging to see a new fund manager use Guernsey, underlining the jurisdiction's ongoing appeal to innovative venture capital and private equity firms as a fund domicile."

RTP Global is an international venture capital firm focused on early-stage technology investments. It has invested in 90 companies founded in more than 10 countries across Europe, Asia and North America. Six  early-stage investments have become multi-billion public companies: Yandex, EPAM, Delivery Hero, RingCentral, Datadog, and Ozon.

RTP Global has offices in New York, London and Bangalore.

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