Growth investor B Capital goes upstream with close of US$250m early-stage fund

B CAPITAL, the technology-investment firm co-founded by Facebook’s Eduardo Saverin, wants to become a “lifecycle investor”.

B Capital typically backs mature startups at the Series B, C and D stages, where companies have mostly figured out their business model and have steady sources of revenue.

For the first time though, the firm has closed a US$250 million fund dedicated to early-stage investments globally. The fund, Ascent Fund II, will invest in seed and Series A rounds, with average cheque sizes ranging from US$500,000 to US$10 million. Its focus is on the US and Asia.