Eduardo Saverin’s B Capital closes new fund at $750m

Photo credit: B Capital Group

B Capital, the global investment firm established by Facebook co-founder Eduardo Saverin, has secured US$750 million in commitments for its second Opportunities Fund – nearly doubling its predecessor’s tally.

Called the Opportunities Fund II, it invests in later-stage companies in the tech, healthcare, and climate tech sectors, said B Capital. Focusing on North America and Asia, a majority of the fund will be invested in the VC firm’s existing portfolio, which includes Carro, Kopi Kenangan, and VNG.

B Capital said the new fund will also support new ventures that can benefit from the firm’s strategic partnership with the Boston Consulting Group. The collaboration provides B Capital’s portfolio companies with access to BCG consultants and advisors across the globe.

“Our vision is to leverage our technology expertise and that of our strategic partner BCG to take these high-performing companies to the next level,” said Saverin.

Opportunities Fund II made its first investment in June 2023 with a secondary purchase in US contract intelligence firm Icertis, which has been in B Capital’s portfolio since 2017.

Without specifying names, the VC firm said a “diverse global base” of sovereign wealth funds, family offices, and high-net-worth individuals participated in the fundraise.

While economic headwinds have made it hard for startups to capture new capital over the past couple of years, VC firms targeting Southeast Asia and India raised a record amount of over US$13 billion last year, according to Tech in Asia data. This was more than what the VC firms raised in 2021 and 2022 combined.

Last year, B Capital closed a US$2.1 billion growth fund and a US$500 million global healthcare fund. It also hired a new venture partner for its climate team.

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