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B Capital raises $415m to back later-stage portfolio firms, expands to China
April 1, 2021
Venture capital firm B Capital Group has raised $415 million for a new fund that will provide follow-on capital to high-performing portfolio companies, it announced on Thursday.
The fund is the firm’s first formally dedicated to late-growth and late-stage investing. It brings the VC’s total assets under management (AUM) to $1.9 billion.
DealStreetAsia had in September reported that B Capital was in the market to raise an opportunities fund – industry parlance for funds that seek to provide additional capital to top companies in VCs’ existing portfolios – and was seeking to raise $350 million for it.