B Capital closes early-stage fund of Ascent fund II for $250 million to invest in US, India startups
- ByStartupStory | July 21, 2022
B Capital, a global investment firm with a focus on technology, has raised $250 million as part of the Ascent Fund, its first dedicated early-stage vehicle. B Capital’s chairperson Howard Morgan, co-founder Eduardo Saverin, general partners Gabe Greenbaum and Karen Page, as well as Karan Mohla, are behind the launch of Ascent as a separate fund. Previously, Ascent was a partners’ fund with no outside capital coming in.
Mohla stated, “The B Capital dedicated early-stage fund will issue checks in the range between $1 million and $10 million for projects in the fintech, enterprise and SaaS, and healthcare sectors. This fund has already supported businesses like Meesho, Byju’s, and PharmaEasy. India, Indonesia, and Vietnam are some of the important Asian regions where we will concentrate on pre-seed to Series A fundraising, he said.
The announcement may coincide with the creation of separate funds for seed and early-stage investments by numerous big venture capital firms. Sequoia Funding announced last month that it had raised $2.85 billion from three distinct capital sources to expand across states and regions in India and Southeast Asia.
About B Capital
In 2015, Raj Ganguly and Eduardo Saverin established B Capital Group. The goal of B Capital is to give the most promising businesses in the world an unrivalled platform to grow and revolutionise their respective sectors. It has supported several startups in India, such as Meesho, BlackBuck, and Khatabook.
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