Eduardo Saverin’s VC Firm B Capital Raises $406 Million In First Close Of new Fund, Filing Shows #Venture_Capital

Eduardo Saverin’s VC Firm B Capital Raises $406 Million In First Close Of new Fund, Filing Shows #Venture_Capital

April 6, 2019 0 By NewsTakers

The venture capital firm cofounded by Facebook billionaire Eduardo Saverin and partner Raj Ganguly has raised hundreds of millions in new funding to invest in startups.
B Capital has raised $406 million in a first close of its second fund, according to a new regulatory filing with the SEC obtained on Friday.
The firm, which wrote in the filing it had raised that amount from 62 investors since late March, indicated that it planned to raise more than that amount, which already tops the $360 million it raised for its first fund.
A source at the time told Forbes that B Capital would look to raise a second fund of approximately twice the size of its first, later in 2019.
At the time, B Capital had recently expanded to bring on a seventh partner, former Box and Apple executive Karen Appleton Page.
To read more of Saverin’s views — and see how B Capital is looking to stand out in a crowded venture capital market — check the full feature story here .
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