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B Capital Group closes its second fund at $820 million, Know-how Information, ETtech – NEWPAPER24

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B Capital Group closes its second fund at $820 million, Know-how Information, ETtech

2020-06-30 16:13:15

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B Capital Group has made the ultimate shut of its second fund at $820 million (Rs 6,192 crore), the US and Singapore-based funding agency stated late on Tuesday. The shut of fund-II means the six-year-old agency will handle property of about $1.four billion throughout its two funding autos.

B Capital Group—based by Eduardo Saverin, co-founder of social media large Fb, and former Bain Capital senior govt Raj Ganguly—had raised $360 million for its debut fund.

The agency sometimes is available in Sequence B and upwards funding rounds, investing between $10 million and $60 million in B2B and B2B2C firms throughout sectors, together with ones working in enterprise know-how, fintech, healthcare tech, shopper know-how, and transportation and logistics.

“Though know-how is already embedded in almost each sector and side of day by day life, the final three months present us there’s nonetheless intensive unmet want in relation to digitisation. We consider the following ten years will see a serious shift in innovation as entrepreneurs study industries and practices from new angles and discover methods to speed up connectivity between techniques, firms and other people,” Ganguly, managing accomplice at B Capital Group, stated. The agency has been a notable backer of a number of startups within the Indian startup ecosystem.

Final month, it led a $60 million funding spherical in Bengaluru-headquartered digital credit score ledger Khatabook.

It additionally counts mobility startup Bounce, transportation firm BlackBuck, Software program as a Service main Icertis and Bizongo, amongst its portfolio in Asia’s third-largest economic system.

“Asia is main the world in digital innovation and is a mobile-first economic system. As a world tech investor, we get pleasure from evaluating patterns and enterprise fashions internationally…Our portfolio firms will kind the spine of the digital economic system of India and SE Asia,” Kabir Narang, common accomplice and co-head of Asia, B Capital Group, instructed ET.

The funding agency, which was based in 2014, has about 30 firms in its portfolio, unfold throughout Asia, Europe and the USA, and has workplaces throughout San Francisco, Los Angeles, New York and Singapore.

“Once we based B Capital Group, Raj and I had been dedicated to constructing a agency that appears for innovation off the overwhelmed path and know-how that has purposes past only one area. We wished to set a brand new commonplace for growth-stage investing,” stated Saverin. “This fund validates our distinctive mannequin and the differentiated worth we deliver to our portfolio.”

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