SUMMARY
The fund will invest in digital health and biotech startups
B Capital mainly focuses on late-stage startups working in the enterprise, financial technology and healthcare segments
Its healthcare portfolio comprises more than 20 early and late-stage startups based in the US, Asia and Europe
Global investment firm B Capital has closed its maiden Healthcare Fund I along with Growth Fund III at over $500 Mn.
The fund will invest in startups working in the healthcare sector, including digital health and biotech. Bounce, BYJYU’S, Khatabook, Meesho, PharmEasy, Yubi and Dailyhunt are some of its India portfolio startups.
“Technological advancements in biology, AI, and automation are transforming the industry, with business models seeing the convergence of traditional players in novel ways. This moment presents a unique opportunity for B Capital to leverage our dedicated healthcare capital and active investment strategy to find and support companies advancing the healthcare sector,” said, Robert Mittendorff, MD, general partner and head of healthcare at B Capital.
Founded in 2015 by Eduardo Saverin and Raj Ganguly, B Capital focuses on late-stage startups working in the enterprise, financial technology and healthcare segments. It manages nearly $6.3 Bn worth of assets under management (AUM).
B Capital operates nine offices across the US and Asia. It also has a strategic partnership with BCG to support startups to scale and expand into new markets.
“Our unique approach to global venture and growth investment, including our strategic partnership with Boston Consulting Group (BCG), places founders and management teams front-and-center, surrounding them with resources they need to transform large markets through innovation and customer-focused solutions,” said Howard Morgan, chair and general partner of B Capital.
In April 2021, Mittendorff joined B Capital to lead Healthcare Fund I and its broader healthcare initiatives globally.
The investment firm’s healthcare portfolio includes more than 20 early and late-stage startups based in the US, Asia and Europe. Its portfolio spans across healthtech, digital health, biotech and medtech segments.
Of late, it led investment rounds in Hotspot Therapeutics, Triumvira, CapitalRX and Carlsmed. As per B Capital, in January 2023, it closed its Growth Fund III and affiliated funds with aggregate capital commitments of about $2.1 Bn.
Recently, a few funds have been launched by several firms to support Indian startups.
Some of the recently launched funds include Zero To One’s INR 300 Cr fund, Grayscale Ventures’ $20 Mn micro-fund and Z3Partners’s INR 550 Cr fund.
In 2022, 126 funds collectively raised over $18 Bn to invest in Indian startups.
