B Capital Group, a venture-capital firm founded last year by Facebook co-founder Eduardo Saverin and Raj Ganguly, formerly from private-equity firm Bain Capital, has raised about $143.6 million towards its first venture fund, according to a SEC filing.
In a LinkedIn post, the two founders explained the significance and potential of the market in startups in Southeast Asia and India especially anticipating the economic growth in the coming years in the regions. They said that the value of these regions would be raised by a lot, if served properly.
The first close has seen the fund pull in nearly 60 percent of its target money, implying that the closing stock may be just under $250 million, according to TechCrunch. The company said that they’ll focus on finding innovative companies and provide them with the resources and networks to develop.
The new B Capital fund, attracted 18 investors, according to the filing. The company has offices in Los Angeles, San Francisco, and Singapore.
It has already invested undisclosed amounts in its first two portfolio companies, according to The Wall Street Journal. One is Ninja Van, a Singapore-based e-commerce logistics startup with services in Southeast Asia. And the other is California-based digital health and analytics firm, Evidation Health.
– Last month, Ideaspring Capital had announced launched a Rs 125 crore fund to invest in startups in India, raised from Aarin Capital along with other investors.
– Earlier in the month, VC firm Matrix Partners India raised $110 million from its existing network of unnamed investors for its second fund, taking its value to $400 million.
– At the same time, ICICI Venture Funds Management completed raising $190 million for its fourth fund titled India Advantage Fund Series 4, from existing investors and an unnamed Asian sovereign wealth fund.
– In March, medical equipment provider Trivitron’s Managing Director GSK Velu floated two investment funds worth $175 million.
– In the same month, equity firm Paragon Partners launched Paragon Partners Growth Fund I, a $200 million India focused fund for financial services, infrastructure services, industrials and healthcare services.
– In February, 500 Startups launched a new $25 million fund to invest in India, Sri Lanka and Bangladesh.
– In the same month Nokia Growth Partners announced a new $350 million fund IV, for investing in IoT companies in the US, Europe, India and China.
– In the same month, IDG Ventures India launched an India-focused tech fund with a target amount of $200 million.
– In January, Storm Ventures launched a new fund for SaaS startups in India, with an allocation of at least $10 million for the fund.
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