B Capital, the investment fund set up by Facebook cofounder Eduardo Saverin and Raj Ganguly formerly of Bain Capital, has closed $820 million in new funding to invest in growth-stage startups.
With a portfolio of nearly 30 companies in Asia, Europe, and the United States, this new fund brings the total assets under management by the firm to $1.44 billion. Some of the fund’s initial investments include scooter company Bird and Singaporean delivery firm Ninja Van.
“In a recessionary period the opportunities are rampant and it’s just an incredible moment,” Karen Appleton Page, general partner at B Capital told Business Insider in an interview. “Events like Covid have happened but startups are going to keep going they won’t sit on the sidelines. They’ve really sharpened their thinking on some different areas.”
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B Capital, a venture capital fund set up by Facebook cofounder Eduardo Saverin and Raj Ganguly formerly of Bain Capital, has closed $820 million vehicle to invest in growth-stage startups.
The fund wants to help companies across enterprise, fintech, health, and mobility at the Series B to D stage.
The fresh fund takes the group’s available capital to $1.44 billion. B Capital has more than 30 companies in its portfolio across Europe, Asia, and North America since its founding in 2015. Some of the fund’s initial investments include scooter company Bird and Singaporean delivery firm Ninja Van.
One of the fund’s LPs is management consultancy firm Boston Consulting Group. The two share a deeper relationship with BCG introducing startups to its corporate network and assisting with talent acquisition and scaling needs.
“The way we partner with BCG has grown and deepened over time,” Karen Appleton Page, general partner at B Capital, told Business Insider in an interview. “There’s a mutual fascination there. We bring the newest tech to their eyes, they provide a way of bringing that tech down the path.”
B Capital closed its latest fund prior to the COVID-19 pandemic hitting full stride.
“First and foremost, we were super lucky on timing and we had great stories to tell from fund 1,” Appleton Page said. “We are bringing in new members which helps us to tell a great story to prospective LPs plus our investment thesis makes us a compelling firm.”
The fund will write checks between $25 million and $60 million. The team can write earlier, smaller checks and bigger, later checks …read more
Source:: Business Insider