Singapore-based B Capital raised about US$406.1 million in the first close of its second fund, according to a US Securities and Exchange Commission filing.
Facebook and B Capital Group co-founder Eduardo Saverin at Tech in Asia Singapore Conference 2016
The amount, which already outsizes the VC firm’s recently closed inaugural fund, came from 62 investors.
Founded by Facebook co-founder Eduardo Saverin and Raj Ganguly, B Capital focuses on early-stage startups engaged in financial services, health care, transportation, and industrial goods, among other sectors.
Since its launch, the firm has invested in 12 companies, including Singapore-based logistics provider Ninja Van, India-based MSwipe, and peer-to-peer lending and invoice financing startup Capital Match.
Editing by Charmaine de Lazo
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