The Growth Fund III of the international investment firm B Capital Group was closed at over US $2.1 billion. The VC company, which has offices in Singapore and New York, will use the funds to make growth investments in companies all around the world, giving US and Asian companies priority.
Two companion funds, one of which specialises in healthcare investments and the other in China-based companies, are also included in this final closing.
According to sources, Raj Ganguly, co-founder of B Capital, said that Fund III anticipates making overall investments in 25 to 35 core portfolio firms in the series B round or above over the course of 10 to 12 quarters.
“As a multi-stage investment firm, we focus on seed- to late-stage growth investments, primarily in the enterprise, financial technology, and healthcare sectors,” Ganguly said. “We believe these sectors are likely to be more resilient as they address the opportunities and challenges presented during the economic downturn”.
Eduardo Saverin, a co-founder of Facebook, and Ganguly, a senior adviser at Boston Consulting Group, established B Capital Group in 2015.
The investor has amassed assets under the control of more than US $6.3 billion. Carro, Ninja Van, and VNG are among the firms in its portfolio based in Southeast Asia.
B Capital’s Ascent Fund II, its first fund devoted to businesses in their pre-seed through series A stages, was last completed in July 2022 for US $250 million.
