Facebook co-founder's B Capital closes $750 mn fund for late-stage startups

It will make investments in companies specialising in technology, healthcare, climate technology

B Capital, an investment firm established by Facebook co-founder Eduardo Luiz Saverin and others, on Tuesday announced the close of its B Capital Opportunities Fund II, L.P. with an aggregate capital commitment of $750 million. The amount is double that raised in the previous fund.

Opportunities Fund II received strong participation from both existing and new investors and represents a diverse global base of well-known private and public pensions, family offices, high-net-worth individuals, and sovereign wealth funds, said B Capital.

The fund will make primary and secondary investments in late-stage companies in technology, healthcare, and climate technology, focusing on North America and Asia.

“Our strategy is to back outstanding founders early and support them throughout their entrepreneurial journey,” said Raj Ganguly, B Capital’s co-founder and co-chief executive officer (CEO). “With our value-add approach, we’re able to assist the most innovative entrepreneurs and businesses in scaling rapidly, expanding their market reach, and building industry-leading brands and companies.”

The fund will seek follow-on investment opportunities in high-performing B Capital portfolio companies. A portion of the fund will be allocated to new investment opportunities where the firm’s value-added capabilities, including its strategic partnership with Boston Consulting Group (BCG), “can have an immediate impact on the companies’ next growth phase”.

“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,” said Eduardo Saverin, co-founder and co-CEO at B Capital. “Our vision is to leverage our technology expertise and that of our strategic partner BCG to take these high-performing companies to the next level.”

In June 2023, Opportunities Fund II made its first investment through a secondary purchase in Icertis, a contract intelligence company that is part of B Capital’s portfolio. B Capital has used its value-add platform to help Icertis connect with other strategic investors and expand in new markets.

“We bring a founder’s mindset and a global business-building perspective to all our portfolio company investments,” said Howard Morgan, general partner and chair at B Capital.