B Capital in the market to raise $350m opportunities fund 

Photo: B Capital website

B Capital Group is in the market to raise a $350 million opportunities fund for its global portfolio of B2B and enterprise technology companies, according to sources aware of the development.

The global venture firm, which has offices in San Francisco, New York, Los Angeles and Singapore, is understood to have raised about $200 million for the vehicle so far. The opportunities fund will allow B Capital to double down on high potential startups within its portfolio, which need extra capital to scale, before hitting an exit.

DealStreetAsia had not received a response from B Capital at the time of publishing.

In June, B Capital announced that it had closed its second global fund at $821.79 million. An SEC filing showed the vehicle had raised the money from 161 investors.

This fund was also understood to have closed significantly above its initial target of $600 million. The fund had secured its first close at $406.1 million in April 2019.

B Capital was founded by Facebook co-founder Eduardo Saverin and former Bain executive Raj Ganguly in 2014. The venture firm invests in B2B and B2B2C companies in enterprise technology, fintech, healthtech, consumer enablement technology, and transportation and logistics.

The venture firm targets growth-stage startups in the Series B to D stages, writing cheques between $10 million and $60 million. It invests in companies that have the ability to scale into new sectors and markets. B Capital has nearly 30 companies in its global portfolio, including prominent Asian startups such as Ninja Van, Blackbuck, Synack, Khatabook and CXA Group.

In the last year, B Capital more than doubled the size of its global team after adding several new partners and key leaders in its investing, operations, and platform teams. The firm is backed by Boston Consulting Group (BCG), which also helps it connect founders with corporates for mutually beneficial business partnerships.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.