US-based venture capital firm B capital has elevated Karan Mohla to general partner, the VC firm announced in a LinkedIn post on Tuesday.
The promotion comes after Mohla’s year-long stint at the firm as a partner. He had joined B Capital in January last year.
During his earlier stint, he held key managerial positions at Chiratae Ventures, OVT Financial LP, among others.
“Karan has proven instrumental in driving our early-stage investment strategy in #India, an epicenter for technological innovation,” the LinkedIn post said.
Earlier this month, B Capital marked the final close of its third fund and a companion fund at $2.1 billion. It said it plans to use the funds to mainly target growth investments across enterprise, fintech, and healthcare sectors globally, with a particular focus on the US and Asia.
The firm said that it has roped in Mohla into the founding team at Capital Ascent, who is tasked with identifying and investing in early-stage, innovative firms in India and Southeast Asia.
Founded by Raj Ganguly and Facebook co-founder Eduardo Saverin in 2014, B Capital invests out of a global fund across sectors. It had closed its second fund of $820 million in 2020, and raised $126.3 million for a new vehicle called B Capital Ascent Fund II, LP, in 2021.
Mohla had told VCCircle in an earlier interaction, that the VC firm expects software-as-a-service (SaaS), healthcare and business-to-business (B2B) platforms to comprise 60% of its investments at the early-stage level.
Fintech firms and enablers in the B2B space will make up the rest, he had said, adding that there isn’t any specific target country or region for the investments and it will depend on the available opportunities.
The firm has $6.3 billion in assets under management across multiple funds, and focuses on venture growth investments from seed to late stages, primarily in the enterprise, financial technology, and healthcare sectors.
It operates in nine locations in the US and Asia, and also has a strategic partnership with Boston Consulting Group (BCG).