Multi-stage investment firm B Capital on March 19 announced the close of its Opportunities Fund II with aggregate capital commitments of $750 million, indicating that the worst is over for the global startup funding winter.
This fund is nearly double the size of its predecessor Opportunities Fund I, aimed at investing in late-stage startups across B Capital’s core sectors of technology, healthcare, and climate tech. The fund will be looking for bets in North America and Asia.
A majority of this new fund will be used 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 (“BCG”), can have an immediate impact on the companies’ next phase of growth, the investment firm said.
Some of B Capital’s prominent investments in India include BYJU’s, Meesho, PharmEasy, BlackBuck, CoinDCX, Fi, MSwipe, and Bizongo to name a few.
Eduardo Saverin, Co-founder, and Co-CEO at B Capital said, “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.”
“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,” Raj Ganguly, Co-founder, and Co-CEO at B Capital added.
B Capital was founded in 2015 by Saverin and his friend from his Harvard days, Bain Capital and Boston Consulting Group (BCG) veteran Ganguly. It also counts legendary investor Howard Morgan and Goldman Sachs veteran Sheila Patel in leadership roles.
Previously, B Capital had closed its Growth Fund III at $2.1 billion in January 2023. This also cumulatively included a China-focused fund and a health tech fund.
In an interview with Moneycontrol in January 2023, Ganguly had said that India is becoming an innovation economy. "The great thing about being an innovation economy is that you can grow even when the overall market is flat, because when you grow through innovation, you're actually building new businesses and new markets," he added.
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