Multi-stage investment firm B Capital, co-founded by Facebook co-founder Eduardo Saverin in 2015, announced the close of its B Capital Opportunities Fund II, L.P. on Tuesday with aggregate capital commitments of $750 million. The second fund was almost double the size of its predecessor B Capital Opportunities Fund I.
The company saw the participation of both existing investors (from the previous fund) and new investors for the new fund. These include private and public pensions, family offices, high-net worth individuals, and sovereign wealth funds.
“In this challenging environment for many private tech companies, we are pleased to have nearly doubled the capital we have available to back the best founders in the B Capital portfolio and other entrepreneurs we have closely followed,” said Eduardo Saverin, Co-founder, and Co-CEO, B Capital in a statement.
The second fund will make primary and secondary investments in later-stage companies across B Capital’s core sectors of technology, healthcare, and climate tech, with a focus on North America and Asia.
The majority of the fund will focus on follow-on investment opportunities in existing and growing B Capital portfolio companies. A portion of the fund will also back new companies where its strategic partnership with the Boston Consulting Group (BCG), can help in the companies’ next phase of growth.
According to BCG, it has been in partnership with B Capital Group to enable client investment in a diversified portfolio of innovative startups. The startups, on the other hand, gain access to a vast network of global thought leaders with deep industry expertise through decades of advisory to Fortune 1000 companies worldwide, as per B Capital.
“Our strategy is to back great founders early and to support them throughout their entrepreneurial journey. We are grateful for our investors, who enable us to continue to support our companies during a time when capital remains scarce,” said Raj Ganguly, Co-founder, and Co-CEO, B Capital.
“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.”
In June 2023, the fund had made its first investment through a secondary purchase in Icertis, a contract intelligence company and existing B Capital portfolio company.
With more than $6 billion in assets under management across multiple funds, B Capital invests in seed to late-stage startups primarily in the technology, healthcare and climate tech sectors.
