B Capital raises $500 million in its inaugural fund that focuses on healthcare investments
- ByStartupStory | March 2, 2023
B Capital, a venture capital firm, has secured its initial healthcare fund and plans to invest $500 million in healthcare-focused startups in the US, Asia, and Europe.
The newly established Healthcare Fund I will concentrate on specific sub-sectors, including biotech and medtech, and will increase B Capital’s total assets under management (AUM) to $6.3 billion, as per the company’s statement. B Capital has already invested in more than 20 healthcare sector startups in these areas.
With its headquarters in Manhattan, New York, the multi-stage venture capital firm has supported more than 140 companies globally in consumer, B2B enterprises, and fintech domains.
In India, B Capital has invested in over 20 startups from early to growth stages, including Meesho, BYJU’S, and Pharmeasy. The VC firm recently revealed the completion of Growth Fund III and related funds with a combined capital commitment of approximately $2.1 billion in January 2023.
B Capital was established in 2014 by Raj Ganguly and Facebook co-founder Eduardo Saverin, and it has a united team in nine locations throughout the United States and Asia. The VC firm has partnered with BCG to expand into new markets and help entrepreneurs at all stages of growth.
Robert Mittendorff, Managing Director, General Partner, and Head of Healthcare at B Capital, commented on the current state of innovation in the healthcare sector, stating that “it is unprecedented”.
Mittendorff will oversee the new fund and the VC firm’s healthcare initiatives as a whole.
He added that “the industry is being transformed by technological progress in the fields of biology, artificial intelligence, and automation, which is leading to novel forms of convergence among traditional players”. Mittendorff emphasised that this presents a distinct chance for B Capital to utilise its specialised healthcare capital and dynamic investment approach to identify and back companies that are progressing the healthcare sector.
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