Facebook’s co-founder, backer of Indian startups Eduardo Saverin raises $406 million for new fund

Facebook co-founder Eduardo Saverin’s global venture capital firm B Capital Group, which has also backed India-focused startups including packaging solutions startup Bizongo, mobile point-of-sale service provider Mswipe, logistics startup Blackbuck, and global contract management firm Icertis, has raised $406 million as the first closing of its second fund, showed documents filed on Friday with the US Securities and Exchange Commission (SEC).

California-based B Capital’s new round was raised from 62 investors since 22nd March 2019, according to the filing seen by Financial Express Online.

B Capital, which focuses on Asia, reportedly closed its first fund at $360 million in February last year. The Boston Consulting Group-backed B Capital invests in business-to-business startups across four areas — financial services, health and wellness, industrial and transportation and consumer enablement.