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B Capital, the venture capital firm of Facebook co-founder Eduardo Saverin, has completed the first closing of its second fund.
The company sold $ 406 million in initial capital, according to a document filed with the FCC last month. The document does not include the details of a target stimulus or those of the LPs that have been validated. Saverin has made himself known as a co-founder of Facebook, but he's rebuilt as an investor focused more particularly on Asia.
B Capital is a new entrant, but this new fund is already bullish, even without final closing. B Capital's first fund closed at $ 360 million last February, while the BCG consulting firm was a strong supporter from the start. The company is positioned as a bridge between the world of business and quality startups, an area in which its alliance with BCG undoubtedly has significant weight.
The company is based in Southeast Asia – where Saverin has lived since giving up American citizenship in 2011 – but it invests worldwide and has an office in San Francisco. Its activities cover financial services, insurance, health, industry, transport and "consumer awareness". To date, B Capital has invested in 19 start-ups, according to its website, including the Bird Scooter startup, CXA's insurance-focused million last month – the Indian Fintech start-up Mswipe – which has announced a $ 30 million fundraiser last week – and the NinjaVan logistics company.
Saverin has also made investments through its family fund, Velos, but its involvement has declined since the launch of B Capital.
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