Global investment firm B Capital Group has closed US$250 million for Ascent Fund II, its first fund focused on early-stage companies.
(From left) B Capital’s Karen Page, Eduardo Saverin, Karan Mohla, Howard Morgan, and Gabe Greenbaum / Photo credit: B Capital Group
The investment vehicle will back startups that are based in the US and Asia in their pre-seed to series A rounds. These startups must belong to growing industries such as enterprise software, digital healthcare, fintech, and logistics.
Ascent Fund II was established by co-founder and managing partner Eduardo Saverin, chair and general partner Howard Morgan, partner Karan Mohla, as well as general partners Gabe Greenbaum and Karen Page.
Founded in 2015 by Saverin and Raj Ganguly, B Capital currently has US$6.5 billion in assets under management across a number of funds. With over 100 companies in its portfolio, the firm has six offices across Asia and the US.
B Capital also has a strategic partnership with Boston Consulting Group, which connects its portfolio companies to corporate partners and consultants for growth opportunities and support.
The firm recently announced a series of new executive hires to support its growing operations. Some of its most recent investments are India-based customer engagement platform MoEngage, US broker Newfront, and Nigerian fintech firm Flutterwave.
See also: These are the most active investors in Southeast Asia’s startups
Editing by Miguel Cordon and Joy Tirkey
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
