Global venture capital firm B Capital has raised $500 million for its third early-stage investment fund, reinforcing its focus on startups developing artificial intelligence (AI) and other advanced technologies.
Established in 2015 by Eduardo Saverin, Ravi Ganguly, and Howard Morgan, B Capital oversees more than $12 billion in assets. The firm invests in startups from the early stages through growth across the technology, healthcare, and climate sectors, while benefiting from a strategic collaboration with Boston Consulting Group.
B Capital entered the Indian market in 2016 with investments in Icertis and BlackBuck. Since then, it has expanded its portfolio to include startups working in applied AI, robotics, deep technology, precision manufacturing, and consumer-focused businesses serving the Indian market.
The firm’s latest vehicle, Ascent Fund III, has closed at $500 million—almost double the $254 million raised by its previous fund, which was completed in July 2022, the company announced on Monday.
The fund will mainly support seed, Series A, and Series B startups across North America and Asia, targeting companies in technology, healthcare, energy, and frontier technologies. According to B Capital, the fund will prioritise businesses building next-generation innovations, with AI expected to play a central role across multiple industries.
So far, Ascent Fund III has invested in more than 20 startups spanning AI infrastructure, robotics, healthcare, and frontier technologies. Among its early investments are Apptronik, Havoc AI, and Star Catcher, all of which have since secured additional funding.
The fund’s close comes as venture investors worldwide continues directing capital toward AI-driven startups despite concerns over rising valuations in parts of the market. The new fund further strengthens B Capital’s multi-stage investment strategy as many global investors rethink their exposure to late-stage technology companies while maintaining strong interest in early-stage AI, software, and deep technology ventures.
