US and Singapore-based investment firm B Capital Group has announced the close of its second fund, an $820 million vehicle, to invest in growth-stage startups transforming large industries and scaling rapidly.
With a portfolio of nearly 30 companies in Asia, Europe, and the United States, this new fund brings the total assets under management by the firm to $1.44 billion, the firm said.
“Although technology is already embedded in nearly every sector and aspect of daily life, the last three months show us there is still extensive unmet need when it comes to digitisation,” said Raj Ganguly, Co-founder and Managing Partner, B Capital.
“We believe the next ten years will see a major shift in innovation as entrepreneurs examine industries and practices from new angles and find ways to accelerate connectivity between systems, companies, and people,” Raj added.
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B Capital recently announced investments in several companies new to the portfolio, including Synack, a crowdsourced cybersecurity testing platform, and Bengaluru-based Khatabook, which digitises local businesses through bookkeeping and online payments.
Founded in 2014 by Raj Ganguly and Facebook Co-founder Eduardo Saverin, B Capital Group invests in B2B and B2B2C companies in enterprise technology (including SaaS, infrastructure AI/ML and security), fintech, healthcare tech, consumer enablement technology, transportation and logistics. The firm typically invests between $10 and $60 million in companies at Series B, C, and D stages that are positioned for rapid expansion.
At a pivotal moment when companies of all sizes are navigating economic uncertainty, thin margins and novel challenges, B Capital said it looks to invest in companies that have a competitive edge due to superior technology, strong customer value-proposition and the ability to scale rapidly into new sectors and regions.
“When we founded B Capital Group, Raj and I were committed to building a firm that looks for innovation off the beaten path and technology that has applications beyond just one region. We wanted to set a new standard for growth-stage investing,” shared Saverin.
B Capital Group was represented by Ropes & Gray LLP in the fundraising.
(Edited by Megha Reddy)
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