Facebook co-founder Eduardo Saverin's B Capital closes $250 mn fund

Ascent Fund II is B Capital's first dedicated early-stage fund. It invests in pre-seed through series A rounds globally, with an emphasis on the US and Asia, including India

B Capital, a venture capital firm co-founded by Facebook co-founder Eduardo Luiz Saverin and Bain Capital veteran Raj Ganguly, said it is closing a $250 million Ascent Fund II, its first dedicated early-stage fund. Ascent invests in pre-seed through series A rounds globally, with an emphasis on the US and Asia, including India. With $6.5 billion in assets under management across multiple funds, B Capital has backed Indian unicorns such as Byju's, Meesho, BlackBuck and Dailyhunt.

“It’s incredible to see the continued pace of growth and development in the early-stage ecosystem across India and South-East Asia, spanning over 1.5 billion