B Capital raises $250 million for early-stage fund Ascent to invest in US, Asia startups

Global tech-focused investment firm B Capital said it has raised $250 million as part of its first dedicated early-stage vehicle Ascent Fund. B Capital’s chairperson Howard Morgan, cofounder Eduardo Saverin, and general partners Gabe Greenbaum and Karen Page along with Karan Mohal are behind the launch of Ascent as a separate fund, a statement from the firm said. Prior to this, Ascent was a partners’ fund with no external capital coming in.

Mohla, who left Chiratae Ventures (formerly IDGVentures India) to join B Capital earlier this year, will lead the Asia team for Ascent. The dedicated