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B Capital closes its first healthcare-focused fund worth $500M corpus

Venture capital firm B Capital has raised its first healthcare fund, committing to invest $500 million in healthcare-focused startups in the United States, Asia, and Europe.

The new fund, Healthcare Fund I, will focus on specific sub-sectors like biotech and medtech and take B Capital’s total assets under management (AUM) to $6.3 billion, according to a statement from the venture capital firm. About 20 healthcare-related startups from these regions have received funds from B Capital.

The multi-stage venture capital firm headquartered in Manhattan, New York, has backed over 140 companies worldwide in the consumer, B2B, and fintech sectors. The VC firm has backed over 20 startups in India, including BYJU’S, Meesho, and Pharmeasy, through the early to growth stages.

B Capital announced the closing of Growth Fund III and affiliated funds in January 2023, totaling roughly $2.1 billion in capital commitments.

B Capital, established in 2014 by Raj Ganguly and Eduardo Saverin, co-founder of Facebook, has nine locations in the United States and Asia, an integrated team, and a strategic partnership with BCG that enables it to expand into new markets and support entrepreneurs across all growth stages.

“We are witnessing unprecedented innovation across the healthcare landscape,” said Robert Mittendorff, Managing Director, General Partner, and Head of Healthcare at B Capital. Mittendorff will lead the new fund and the firm’s overall healthcare initiatives.

“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,” he added.

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BRL Editor
BRL Editor
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