As filed with the Securities and Exchange Commission on
November 17, 2011

Registration No. 33-35576
811-06128

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933	þ
Pre-Effective Amendment No.	o
Post-Effective Amendment No. 23 and	þ
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940	þ
Amendment No. 24 (Check appropriate box or boxes)	þ

PUTNAM MULTI-CAP GROWTH FUND

(Exact name of registrant as specified in charter)

One Post Office Square, Boston, Massachusetts 02109
(Address of principal executive offices)

Registrant’s Telephone Number, including Area Code
(617) 292-1000

It is proposed that this filing will become effective
(check appropriate box)

o immediately upon filing pursuant to paragraph (b)

þ on November 17, 2011 pursuant to paragraph (b)

o 60 days after filing pursuant to paragraph (a) (1)

o on (date) pursuant to paragraph (a) (1)

o 75 days after filing pursuant to paragraph (a) (2)

o on (date) pursuant to paragraph (a) (2) of Rule 485.

If appropriate, check the following box:

o  this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

BETH S. MAZOR, Vice President
PUTNAM MULTI-CAP GROWTH FUND
One Post Office Square
Boston, Massachusetts 02109
(Name and address of agent for service)
Copy to:
JOHN W. GERSTMAYR, Esquire
ROPES & GRAY LLP
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02199-3600

SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Boston, and The Commonwealth of Massachusetts, on the 17th day of November, 2011.

Putnam Multi-Cap Growth Fund
By:	/s/ Jonathan S. Horwitz, Executive Vice President, Treasurer, Principal Executive Officer
	and Compliance Liaison

     Pursuant to the requirements of the Securities Act of 1933, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

Signature	Title
Jameson A. Baxter**	Chair, Board of Trustees and Trustee
Robert L. Reynolds**	President and Trustee
Jonathan S. Horwitz**	Executive Vice President, Treasurer, Principal Executive Officer and Compliance Liaison
Steven D. Krichmar**	Vice President and Principal Financial Officer
Janet C. Smith**	Vice President, Assistant Treasurer and Principal Accounting Officer
Ravi Akhoury**	Trustee
Barbara M. Baumann*	Trustee
Charles B. Curtis**	Trustee
Robert J. Darretta**	Trustee
John A. Hill**	Trustee

1

Signature	Title
Paul L. Joskow**	Trustee
Kenneth R. Leibler**	Trustee
Robert E. Patterson**	Trustee
George Putnam, III**	Trustee
W. Thomas Stephens**	Trustee

By:	/s/ Jonathan S. Horwitz, as Attorney-in-Fact
November 17, 2011

*	Signed pursuant to power of attorney filed in Post-Effective Amendment No. 21 to the Registrant’s Registration Statement filed on October 28, 2010.
**	Signed pursuant to power of attorney filed in Post-Effective Amendment No. 20 to the Registrant’s Registration Statement filed on October 29, 2009.

2

Exhibit Index

XBRL Instance Document	Ex-101.ins
XBRL Taxonomy Extension Schema Document	Ex-101.sch
XBRL Taxonomy Extension Calculation Linkbase Document	Ex-101.cal
XBRL Taxonomy Extension Labels Linkbase	Ex-101.lab
XBRL Taxonomy Extension Presentation Linkbase Document	Ex-101.pre
XBRL Taxonomy Extension Definition Linkbase	Ex-101.def

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