Eduardo Saverin
B Capital Group, an active VC fund run by Facebook Co-founder Eduardo Saverin, has announced the final close of its second fund worth US$820 million.
In a Medium article, the VC firm said that the final close brings its total assets under management to US$1.44 billion.
The group has invested in nearly 30 companies across Asia, Europe and the US, including Singapore-based Ninja Van and CXA.
As per a TechCrunch report, the second fund is more than two times what the group raised for its US$360 million debut fund in 2016.
The Fund II will invest in growth-stage startups transforming large industries and scaling rapidly.
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“Although technology is already embedded in nearly every sector and aspect of daily life, the last three months show us there is still extensive unmet need when it comes to digitisation,” said B Capital Co-founder and Managing Partner Raj Ganguly.
“We believe the next ten years will see a major shift in innovation as entrepreneurs examine industries and practices from new angles and find ways to accelerate connectivity between systems, companies and people,” he added.
Founded in 2014 by Ganguly and Saverin, B Capital invests in B2B and B2B2C companies in enterprise technology (including SaaS, infrastructure AI/ML and security), fintech, health-tech, consumer enablement technology, and transportation and logistics.
It typically invests between US$10 million and US$60 million in companies at Series B, C and D stages.
Ganguly claims that B Capital has experienced significant growth over the past year, adding key roles in areas including investing, operations and the company’s platform team.
Through its exclusive partnership with BCG, B Capital connects entrepreneurs and corporates to explore mutually-beneficial relationships that apply cutting-edge technologies at scale.
The group’s other portfolio companies include AImotive, Atomwise, Blackbuck, Bounce, Bright.md, Evidation Health, Icertis, INTURN, Plastiq, Notable Labs and SilverCloud Health.
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