B Capital raises $750M for its second fund Opportunities Fund II

Global investment firm B Capital announced the close of its second fund, B Capital Opportunities Fund II, where it raised $750 million from private and public pension funds, family offices, high-net-worth individuals and sovereign wealth funds.

In a statement, the VC firm and the second fund is nearly double the size of its previous fund. The Opportunities Fund II will make primary and secondary investments in later-stage companies across technology, healthcare, and climate tech sectors, with a focus on North America and Asia.

With the second fund, B Capital will identify follow-on investment opportunities in its existing, high-performing portfolio companies.

It will also invest a portion in new investment opportunities, where its value-added capabilities, including its strategic partnership with the Boston Consulting Group, can have an immediate impact on the companies’ next phase of growth.

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“With our value-add approach, we’re able to help the most innovative entrepreneurs and businesses scale at speed, expand their market reach and build industry-leading brands and companies,” Raj Ganguly, Co-founder and Co-CEO of B Capital said.

In June 2023, B Capital's second fund made its first investment through a secondary purchase in Icertis, an Indian-origin SaaS company, and existing B Capital portfolio company. Since first backing Icertis in 2017, B Capital has claimed to use its value-add platform to help the company connect with other strategic investors, expand into new markets, and explore organisational design structures.

Founded in 2015, B Capital has more than $6 billion in assets under management across multiple funds and focuses on seed to late-stage venture investments. In India, it has funded leading Indian startups, including BYJU'S, Meesho, Pharmeasy, etc.

"In this challenging environment for many private tech companies, we are pleased to have nearly doubled the capital we have available to back the best founders in the B Capital portfolio and other entrepreneurs we have closely followed,” Eduardo Saverin, Co-founder and Co-CEO of B Capital, said.