B Capital closes $250 million early-stage fund dedicated for Asia & US

In 2020, B Capital closed its second flagship fund which received $822 million in commitments including the management consulting firm BCG as an anchor investor.

B Capital closes $250 million early-stage fund dedicated for Asia & US
The Ascent Fund will invest in pre-seed through Series A rounds globally, with an emphasis on the US and Asia B Capital’s Ascent Fund. (Representative image/Reuters)

B Capital, a global multi-stage investment firm on Tuesday announced the closure of its $250 million Ascent Fund II, which is its first dedicated early-stage fund.

The Ascent Fund will invest in pre-seed through Series A rounds globally, with an emphasis on the US and Asia B Capital’s Ascent Fund.

The Ascent team was founded by general partners Howard Morgan, Gabe Greenbaum, Karen Page, founder and managing partner Eduardo Saverin and partner Karan Mohla.

Leveraging their decades of experience as active partners of early-stage companies, the fund targets founders leading the next wave of innovation across digital healthcare, enterprise software, fintech and logistics, among other growing industries.

“Forty years of investing has taught me that early-stage founders have the best view of where the market is heading. Ascent allows us to work with these entrepreneurs to build great companies ahead of the curve,” said general partner Howard Morgan in a statement.

With $6.5 billion in assets under management across multiple funds, B Capital focuses on seed to late-stage growth investments, primarily in the enterprise, financial technology and healthcare sectors.

Founded in 2015, B Capital leverages an integrated team across eight locations in the US and Asia, as well as a strategic partnership with Boston Consulting Group (BCG), to provide value-added support to entrepreneurs.

The fund’s strategic partnership with BCG enables B Capital to connect its portfolio companies to a global network of business leaders eager to partner with emerging technologies.

The new Fund close is the latest milestone for B Capital, which recently announced a series of new hires and promotions to expand the firm’s executive team and support its growth. In January 2022, the fund hired ex- Chiratae Ventures executive Karan Mohla to lead its investment efforts in India.

In 2020, B Capital closed its second flagship fund which received $822 million in commitments including the management consulting firm BCG as an anchor investor. In 2021, it also launched a $415 million ‘Elevate’ fund to make follow-on investments in late-stage start-ups.  Some of B Capital’s investments in India include Khatabook, Byju’s, Meesho, and Dailyhunt, among others.

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