Global investment company B Capital Group has closed its Growth Fund III at approximately US$2.1 billion. The Singapore- and New York-headquartered VC firm will be deploying the capital for growth investments across the globe, with priorities given to firms based in the US and Asia.
B Capital Group co-founders Raj Ganguly (left) and Eduardo Saverin / Photo credit: B Capital
This final close also encompasses two companion funds, with one focusing on China-based firms and the other on healthcare investments.
Overall, Fund III expects to invest in the series B round or above of 25 to 35 core portfolio companies over 10 to 12 quarters, B Capital co-founder Raj Ganguly told Tech in Asia in an email interview.
“As a multi-stage investment firm, we focus on seed- to late-stage growth investments, primarily in the enterprise, financial technology, and healthcare sectors,” Ganguly said. “We believe these sectors are likely to be more resilient as they address the opportunities and challenges presented during the economic downturn.”
B Capital Group was formed in 2015 by Facebook co-founder Eduardo Saverin and Ganguly, who is also a senior advisor at Boston Consulting Group.
In total, the investor has racked up over US$6.3 billion in assets under management. Its Southeast Asian portfolio companies include Carro, Ninja Van, and VNG.
B Capital last closed its Ascent Fund II at US$250 million in July 2022, which was its first fund focused on startups in their pre-seed to series A rounds.
See also: Ninja Van nearly doubles revenue in FYE 2021, while reducing losses
Editing by Thu Huong Le and Lorenzo Kyle Subido
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