B Capital, the investment fund set up by Facebook cofounder Eduardo Saverin and Raj Ganguly formerly of Bain Capital, has closed $820 million in new funding to invest in growth-stage startups.
"In a recessionary period the opportunities are rampant and it's just an incredible moment," Karen Appleton Page, general partner at B Capital told Business Insider in an interview. "Events like Covid have happened but startups are going to keep going they won't sit on the sidelines. They've really sharpened their thinking on some different areas.
The fresh fund takes the group's available capital to $1.44 billion. B Capital has more than 30 companies in its portfolio across Europe, Asia, and North America since its founding in 2015. Some of the fund's initial investments include scooter company Bird and Singaporean delivery firm Ninja Van. "The way we partner with BCG has grown and deepened over time," Karen Appleton Page, general partner at B Capital, told Business Insider in an interview. "There's a mutual fascination there. We bring the newest tech to their eyes, they provide a way of bringing that tech down the path.""First and foremost, we were super lucky on timing and we had great stories to tell from fund 1," Appleton Page said.
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