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Miguel Cordon · · 1 min readFacebook co-founder’s B Capital could set aside 40% of its $1.9b fund for China
“Facebook co-founder Eduardo Saverin’s B Capital Group may allocate as much as 40% of its US$1.9 billion global fund to China as it begins investing there,” Bloomberg reported, citing the company’s new head for the country Daisy Cai.
Details:
- Cai, who previously served as partner for SoftBank Vision Fund, is set to run a team of roughly 10 professionals from Hong Kong to search for opportunities in health, fintech, and transportation, among others.
- The new China head also said that B Capital recently backed ecommerce enabler Xingyun Group and is looking to invest in an undisclosed auto parts retail chain.
Context:
- The report comes less than a week after B Capital announced the close of its US$415 million fund, which aims to provide follow-on capital to its later-stage portfolio companies.
- The US currently accounts for slightly over 50% of B Capital’s global investment, with the rest divided among South and Southeast Asia, Latin America, and Europe.
Editing by Collin Furtado and September Grace Mahino
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