B Capital closes third growth fund series at US$2.1b

TECHNOLOGY investor B Capital has closed its Growth Fund III, securing US$2.1 billion in capital commitments despite a global slowdown that has bogged down fundraising efforts.

The capital was raised across its third venture growth fund and two related companion funds, China Fund I and Healthcare Fund I.

“These companion funds expand B Capital’s reach across industries and geographies, strengthening the firm’s influence and investment strategy,” said Raj Ganguly, a former Bain Capital executive who started B Capital with Facebook co-founder Eduardo Saverin.