Global multi stage venture capital firm B Capital has closed its third early stage fund at $500 million, as it looks to back young companies building around artificial intelligence (AI) and other frontier technologies. Founded in 2015 by Eduardo Saverin, Ravi Ganguly, and Howard Morgan, B Capital manages more than $12 billion in assets. The firm invests in early to late stage startups across technology, healthcare, and climate sectors, leveraging a strategic partnership with Boston Consulting Group. The VC firm has been active in India since 2016, beginning with investments in Icertis and BlackBuck. It has also invested in companies operating in applied AI, robotics, deeptech, precision manufacturing, and India focused consumer businesses. The fund, Ascent Fund III, is nearly twice the size of its predecessor, which closed at $254 million in July 2022, the company said on Monday. The new fund will primarily invest in seed, Series A, and Series B rounds across technology, healthcare, energy, and frontier technology companies in North America and Asia. B Capital said the vehicle will back companies developing next generation technologies, with artificial intelligence becoming a foundational layer across sectors. Ascent Fund III has already invested in more than 20 companies across AI infrastructure, robotics, healthcare, and frontier technologies. Its early investments from the fund include Apptronik, Havoc AI, and Star Catcher, which have subsequently raised follow on capital. The fund closure comes as global venture investors continue to raise and deploy capital into AI focused companies, even as parts of the market show signs of elevated valuations. The latest fund adds to B Capital’s stage based investment platform at a time when several global investors are reassessing late stage technology bets while continuing to show interest in early stage AI, software, and deeptech companies. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
