Former Facebook co-founder Eduardo Saverin co-founded the tech fund that’s based in Singapore

B Capital, the tech fund which was co-founded by the infamous ex-Facebook co-founder Eduardo Saverin, announced the first close of its second fundraising at US$406 million, detailed in its US Securities and Exchange Commission (SEC) filing.

According to Deal Street Asia, B Capital confirmed that it has attracted 62 investors since its launch last month with no closing date or target of funding amount detailed.

In total, this first close has given the tech fund a total amount of US$766.1 million spread within two funds. Starting with US$360 million for its first fund called B Capital Fund followed with B Capital II LP.

Raj Ganguly, B Capital’s co-founder, and partner will manage the fund as stated in the regulatory filing.

B Capital was founded by both Ganguly and Saverin. Saverin then moved to Singapore in 2011 bringing B Capital along, investing in B2B startups across consumer enablement, financial services and insurance, health and wellness, and industrial and transportation.

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To date, the firm has been backed by Boston Consulting Group and has partnered with its incubation arm BCG Digital Ventures, seeking to invest up to US$20 million in each portfolio company as well as reserving it for future growth funding.

B Capital’s portfolios are 12 companies including AImotive, Bright.md, Capital Match, CXA, Evidation Health, Icertis, INTURN, Lanetix, Mswipe, Ninja Van, and SilverCloud Health.
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