An investment firm led by Facebook co-founder Eduardo Saverin, legendary investor Howard Morgan and former Bain Capital executive Raj Ganguly has raised $250 million from outside investors for its venture fund starting.
Called Ascent Fund II, the fund aims to invest in Series A startups in the United States and Asia, B Capital said on Tuesday evening. Its investment team, formed by Saverin and Morgan with general partners Gabe Greenbaum and Karen Page, and partner Karan Mohla, is seeking opportunities in the next wave of innovation in digital healthcare, enterprise software , fintech and logistics. among other growing industries, he said.
“Forty years of investing have taught me that early-stage founders have the best view of how the market is changing,” Morgan said in a statement. "Ascent allows us to partner with these entrepreneurs to build great businesses in the future."
According to CB Insights, B Capital's latest fund comes in the midst of a global business slump, with venture capital-led investment in start-ups around the world down 23% in Q2 compared to three months previous. In this context, the company, which has offices in Beijing, Hong Kong, Singapore, New York, San Francisco and Los Angeles, has strengthened its executive team to support growth initiatives. In April, he hired Elizabeth Wahab in a new role as global chief operating officer and Cecilia Kwan as chief financial officer.
Founded in 2015, also backed by Boston Consulting Group, B Capital now has over $ 6 billion in assets under management. The company has invested in more than 125 companies around the world, including some of Asia's fastest growing unicorns, such as Indian online education platform Byju's and Singapore's technology-based regional logistics company Ninja Van.