Facebook Co-Founder Saverin's B Capital Closes $360 Million Fund
Eduardo Saverin raised $360 million for its first fund, as it invests in health care, fintech and other sectors.
(Bloomberg) -- B Capital Group, the venture capital firm backed by Facebook Inc. co-founder Eduardo Saverin, raised $360 million for its first fund, as it invests in health care, financial technology and other sectors.
The Brazilian-born billionaire has reinvented himself as a venture capitalist since relocating to Singapore in 2009 and founded B Capital with Raj Ganguly. It was founded in partnership with Boston Consulting Group Inc., helping the firm to match startups with large corporations.
"We seek to provide our portfolio companies with the necessary resources and access to some of the most important business leaders," Saverin said in an e-mailed statement.
B Capital, with offices in Singapore, Los Angeles, San Francisco and New York, has backed about a dozen startups so far. They include CXA, a Singapore-based employee health and wellness benefits platform; Icertis, a provider of enterprise contract management; and parcel-delivery service Ninja Van. The entrepreneur has a net worth of $9.3 billion, according to the Bloomberg Billionaires Index.
To contact the reporter on this story: Yoolim Lee in Singapore at yoolim@bloomberg.net.
To contact the editors responsible for this story: Robert Fenner at rfenner@bloomberg.net, Peter Elstrom, Edwin Chan
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