B Capital closes second Opportunities Fund at $750 million

livemint.com:

BENGALURU : Global investment firm B Capital, which has backed prominent Indian startups such as Byju's, Pharmeasy and Meesho, on Tuesday announced the close of its second Opportunities Fund at $750 million. The fund saw participation from existing and new investors as well as global private and public pensions, family offices, high-net-worth individuals, and sovereign wealth funds, the multi-stage investment firm said in a statement on Tuesday.

Through this fund, the firm will actively look to make primary and secondary investments in later-stage companies across B Capital’s core sectors of technology, healthcare, and climate tech, with a focus on North America and Asia. “Our strategy is to back great founders early and to support them throughout their entrepreneurial journey.

We are grateful for our investors, who enable us to continue to support our companies during a time when capital remains scarce," said Raj Ganguly, co-founder and co-CEO of B Capital. While a bulk of this fund, which the investment firm claims to be double the size of its previous fund, will be used to make follow-on investments in existing portfolio companies, it will also invest in new companies.

B Capital had not responded to Mint's queries on the first fund till press time. “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, B Capital.