B Capital

Last updated

B Capital Group Management, L.P.
Company type Private
Industry Venture capital
Founded2015;10 years ago (2015)
Founders
Headquarters Manhattan Beach, Los Angeles County, California, U.S.
Key people
 Howard L. Morgan (Chairman)
AUM US$7 billion (2024)
Number of employees
100+ (2024)
Website
Footnotes /references
[1]

B Capital is an American venture capital firm based headquartered in Manhattan Beach, California. The firm has a strategic partnership with the Boston Consulting Group (BCG).

Contents

Outside the United States, B Capital has offices in Beijing, Hong Kong, and Singapore.

Background

B Capital was founded in 2015 by Facebook co-founder Eduardo Saverin and Raj Ganguly. Saverin had worked with Ganguly since 2012 where they met in Singapore due to mutual acquaintances from Harvard University. In 2015 they came up with the idea of B-Capital around two points of distinction which were a strong footprint in Southeast Asia and a matchmaker for BCG. From inception the firm took a multinational approach to investing rather than starting locally. While Ganguly oversaw more of the day-to-day management, Saverin focused on investments especially those in Southeast Asia and India. B Capital partnered with BCG which allowed its portfolio companies access to BCG's advice and clients. BCG as a passive investor in B Capital would only provide consulting advice when founders ask. [2]

In May 2016, B Capital raised more than $143.6 million in the first close for its first fund. B Capital had already invested in two companies which were Ninja Van and Evidation Health. [3]

In 2017, First Round Capital co-founder Howard L. Morgan came out of retirement to become chairman of B Capital. [2]

In April 2021, B Capital expanded its investment scope into China and hired a former SoftBank Vision Fund partner to lead its China team. Despite the Chinese government launching a regulatory campaign on Chinese technology companies, B Capital management believed it was the best time to scout for startups there. [4]

In July 2022, B Capital had raised $250 million for its first early-stage venture fund named Ascent Fund. Prior to that B Capital had allocated most of its capital toward later-stage companies. [5]

In March 2023, B Capital had raised $500 million for its first healthcare-only fund. [6]

See also

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References

  1. ↑ "Form ADV" (PDF). SEC. Archived (PDF) from the original on December 4, 2024. Retrieved November 30, 2024.
  2. 1 2 Konrad, Alex (May 19, 2019). "Life After Facebook: The Untold Story Of Billionaire Eduardo Saverin's Highly Networked Venture Firm". Forbes. Archived from the original on March 4, 2020. Retrieved November 30, 2024.
  3. ↑ Purnell, Newley (May 19, 2016). "Facebook Co-Founder Saverin's Venture-Capital Firm Raises $143.6 Million". Wall Street Journal.
  4. ↑ Lee, Yoolim (March 31, 2021). "Saverin's Venture Firm Enters China With Ex-SoftBank Partner". Bloomberg News. Archived from the original on September 2, 2022. Retrieved November 30, 2024.
  5. ↑ Ellen, Huet (July 19, 2022). "Eduardo Saverin's B Capital Raises Its First Early-Stage VC Fund". Bloomberg News. Retrieved November 30, 2024.
  6. ↑ Gormley, Brian (March 1, 2023). "Venture Investor B Capital Raises First Healthcare Fund". Wall Street Journal. Archived from the original on May 8, 2023. Retrieved November 30, 2024.
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