US-based multi-stage venture capital firm B Capital said Tuesday it has made the final close of its second opportunities fund with aggregate capital commitments of $750 million (around Rs 6,226 crore), nearly double the size of its predecessor.
The B Capital Opportunities Fund II received strong participation from both existing and new investors and represents a diverse global base of well-known private and public pensions, family offices, high-net-worth individuals and sovereign wealth funds, the VC firm said in a release.
The second opportunities fund will make primary and secondary investments in later-stage companies. It will primarily invest in segments like technology, healthcare and climate tech, with a focus on North America and Asia.
B Capital, which was founded by Raj Ganguly and Eduardo Saverin in 2014, is an investor in a few Indian startups. These include beleaguered edtech firm Byju’s, social commerce platform Meesho, contract intelligence company Icertis, healthtech company PharmEasy, crypto startup CoinDCX, fintech companies Fi.money and MSwipe, logistics firm BlackBuck and vendor digitisation platform Bizongo.
The new fund will participate in follow-on investment opportunities in existing, high-performing B Capital portfolio companies. However, the firm has set a portion of the fund for new investment opportunities. The fund will invest in new companies wherein its value-added capabilities, including its strategic partnership with the Boston Consulting Group, can have an immediate impact on the companies’ next phase of growth, it said.
“Our strategy is to back great founders early and to support them throughout their entrepreneurial journey…With our value-add approach, we’re able to help the most innovative entrepreneurs and businesses scale at speed, expand their market reach and build industry-leading brands and companies,” said Ganguly, co-chief executive officer at B Capital.
The fund made its first investment in its portfolio company Icertis in June 2023. B Capital first invested in the company in 2017.
B Capital currently has more than $6 billion in assets under management across multiple funds. The firm focuses on seed to late-stage venture growth investments, primarily in the technology, healthcare and climatetech sectors. It has teams across nine locations in the US and Asia.
