B Capital Closes Opportunities Fund II

B Capital has held a final closing of B Capital Opportunities Fund II LP with $750 million of total capital commitments.

Limited partners in the new fund include both returning and new investors including private and public pensions, family offices, high-net-worth individuals, and sovereign wealth funds.

Opportunities Fund II will invest in primary and secondary opportunities in later-stage technology, healthcare, and climate tech. The fund will concentrate on opportunities in North America and Asia, predominantly looking for follow-on investments in existing B Capital portfolio companies that have shown high performance. Additionally, a portion of the fund will be allocated to new investment opportunities.

As an example of the new fund’s investment strategy, in June 2023 it purchased a secondary interest in Icertis, a provider of contract intelligence and an existing B Capital portfolio company since 2017.

“We bring a founder’s mindset and a global business-building perspective to all of our portfolio company investments,” said Howard Morgan, General Partner and Chair at B Capital. “Our continued partnership with Icertis exemplifies our differentiated approach to accelerating value creation – from growing a best-in-class team and supporting business development initiatives to providing strategic financial guidance.”

B Capital was founded in 2015 by Co-CEOs Raj Ganguly and Eduardo and it maintains a strategic partnership with Boston Consulting Group (BCG) which provides its portfolio companies with access to BCG resources including its technology advisor program, consulting engagements, and revenue growth through direct introductions to BCG corporate clients.

“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 Mr. Saverin. “We launched B Capital because of our long-term commitment to supporting founders throughout the company-building lifecycle. 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.”

“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 Mr. Ganguly. “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.”

B Capital invests in seed to late-stage growth opportunities in North America and Asia-based technology, healthcare, and climate tech companies. The firm is headquartered near Los Angeles in Manhattan Beach, California, with additional offices in San Francisco, New York City, Miami, Singapore, Beijing and Hong Kong.

With the closing of Opportunities Fund II, the firm now manages over $6 billion in assets across several funds.

© 2024 Venture Capital Investor | April 5, 2024