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B Capital raises $250-M for early-stage fund to invest in Asia startups

Economic Times  

Global tech-focused investment firm B Capital has raised USD 250 million as part of its first dedicated early-stage vehicle, Ascent Fund. B Capital's chairperson Howard Morgan, co-founder Eduardo Saverin, and general partners Gabe Greenbaum and Karen Page along with Karan Mohal are behind the launch of Ascent as a separate fund. Prior to this, Ascent was a partners' fund with no external capital. B Capital's Head of Early Stage Investments in India and SE Asia - Karan Mohla - will lead the Asia team for Ascent. The dedicated early-stage fund of B Capital, which has backed startups like Meesho, Byju's, and PharmEasy, will cut cheques in the range of USD 1-10 million across sectors like fintech, enterprise and software-as-a-service, and healthcare, with focus on pre-seed to Series A funding in India, Indonesia, and Vietnam.