B Capital Group Closes $820mm Second Fund to Support Global Innovation
Final close brings B Capital Group’s total funds under management to US$1.4bn as the firm continues its strong pace of investment in growth-stage B2B startups globally.
JUNE 30, 2020, San Francisco, San Francisco — 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. B Capital has already established a reputation as a value-additive investor, partnering with portfolio companies to solidify operations, support business development and hiring, and hypercharge growth.
The new fund comes at a time when technology’s potential has never been greater. COVID-19 has thrust the world into a new digital age, exposing areas that need to be reimagined.
“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 digitization,” said B Capital co-Founder and Managing Partner Raj Ganguly. “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.”
B Capital recently announced investments in several companies new to the portfolio, including Synack, a crowdsourced cybersecurity testing platform powered by the world’s most skilled ethical hackers, and Khatabook, the Bangalore-based startup that digitizes local businesses through bookkeeping and online payments. Each investment reflects a global trend B Capital Group is tracking as the global impacts of COVID-19 are realized. Synack’s unique off-premise approach provides a flexible and responsive way for companies to protect critical assets and technologies that complements decentralized workplaces. Khatabook addresses the significant community of small- and mid-sized businesses operating with increasing uncertainty and thin margins that need access to enterprise-grade technologies to stay competitive in a digitized world.
“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.”
Founded in 2014 by 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, and 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 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,” said Saverin. “I am incredibly proud of the team of investor-experts we have assembled and the companies we have partnered with. This fund validates our unique model and the differentiated value we bring to our portfolio.”
“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,”
B Capital Group has experienced significant growth over the past year, adding key roles in areas including investing, operations and the company’s platform team, which partners with B Capital portfolio companies and provides support in areas including strategy and operations, business development and corporate partnerships, talent acquisition and capital formation. The company has more than doubled the size of its global team, bringing on several new partners and senior leaders to its offices in San Francisco, Los Angeles, New York and Singapore. Through its exclusive partnership with BCG, B Capital connects entrepreneurs and corporates to explore mutually-beneficial relationships that apply cutting-edge technologies at scale. B Capital Group was represented by Ropes & Gray LLP in the fundraising.
About B Capital Group
B Capital Group is a global firm specializing in equity investing in venture and growth-stage companies that have achieved traction with customers. Through our extensive global network and exclusive partnership with The Boston Consulting Group, B Capital helps high growth startups navigate business challenges, raise capital and attract talented leadership at key points of their journeys to scale. With offices in San Francisco, New York, Los Angeles and Singapore, B Capital believes innovation can come from anywhere. Our unique multinational presence and deep industry knowledge have enabled us to build a portfolio of startups in Enterprise application software, Infrastructure, Security, AI/ML, Fintech and Insurtech, and HealthcareTech and Bio IT that are transforming large traditional industries across borders and geographies. Portfolio companies include AImotive, Atomwise, Blackbuck, Bounce, Bright.md, CXA, Evidation Health, Icertis, INTURN, Plastiq, Ninja Van, Notable Labs and SilverCloud Health. For more information, visit http://www.bcapgroup.com/.
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