BENGALURU: Investment firm B Capital on Tuesday announced the closing of its Opportunities Fund II at $750 million. This comes amid funding winter and the challenging environment that start-ups have been facing over a few months now.
B Capital, which has backed many Indian start-ups including Meesho, PharmEasy and Byju’s, was founded by Facebook co-founder Eduardo Luiz Saverin and others in 2015. This fund is nearly double the size of its predecessor B Capital Opportunities Fund I.
Opportunities Fund II will make primary and secondary investments in later-stage companies across B Capital’s core sectors of technology, healthcare and climate tech, with a focus on North America and Asia.
“The majority of the Fund will seek to identify follow-on investment opportunities in existing, high-performing B Capital portfolio companies. A portion of the Fund will also invest in new investment opportunities, where the firm’s value-added capabilities, including its strategic partnership with the Boston Consulting Group, can have an immediate impact on the companies’ next phase of growth,” the company said.
With more than $6 billion in assets under management across multiple funds, the firm focuses on seed to late-stage venture growth investments.
“Our strategy is to back great founders early and to support them throughout their entrepreneurial journey. We are grateful for our investors, who enable us to continue to support our companies during a time when capital remains scarce,” said Raj Ganguly, Co-founder and Co-CEO at B Capital.
“With our value-add approach, we’re able to help the most innovative entrepreneurs and businesses scale at speed, expand their market reach and build industry-leading brands and companies,” he added. “In this challenging environment for many private tech companies, we are pleased to have nearly doubled the capital we have available to back the best founders in the B Capital portfolio and other entrepreneurs we have closely followed,” said Eduardo Saverin, Co-founder and Co-CEO at B Capital.