B Capital, the co-founder of Facebook, closes a $750 million fund for startups
The $750 million closure of B Capital’s Opportunities Fund II was announced on Tuesday. This occurs in the midst of the financing freeze and the difficult conditions that startups have been dealing with over the last several months.
Eduardo Luiz Saverin, a co-founder of Facebook, and others formed B Capital in 2015. The company has sponsored several Indian start-ups, such as Meesho, PharmEasy, and Byju’s. Compared to its predecessor, the B Capital Opportunities Fund I, this fund is almost twice as large.
Opportunities Fund II will concentrate on North America and Asia while making primary and secondary investments in later-stage businesses in B Capital’s major industries of technology, healthcare, and climate technology.
The primary objective of the Fund is to locate further investment prospects in well-performing B Capital portfolio firms that are already in operation. A share of the Fund will also be allocated to new ventures in which the company’s value-added skills, such as its strategic alliance with the Boston Consulting Group, may directly influence the businesses’ next stage of expansion, according to the statement from the company.
The company specializes in seed to late-stage venture development investments, and it now manages more than $6 billion in assets across numerous funds.
“Our approach is to assist outstanding founders from the outset of their business endeavors and to support them continuously.” As cash is still in short supply, we are appreciative to our investors for allowing us to keep advancing our businesses, said Raj Ganguly, co-founder and co-CEO of B cash.
“We’re able to help the most creative entrepreneurs and businesses scale at speed, expand their market reach, and build industry-leading brands and companies with our value-add approach,” he said. Co-founder and co-CEO of B money Eduardo Saverin said, “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 in this challenging environment for many private tech companies.”
