B Capital, a global investment firm founded by Eduardo Saverin and Raj Ganguly, has closed its Healthcare Fund I and Growth Fund III with over $500 million in capital commitments. The Healthcare Fund I will invest in start-ups working in the healthcare sector, including digital health and biotech. The fund's portfolio start-ups in India include Bounce, Khatabook, Meesho, PharmEasy, Yubi and Dailyhunt.
"The healthcare industry is undergoing a transformation with technological advancements in biology, AI, and automation, and the convergence of traditional players in novel ways. B Capital sees this as a unique opportunity to leverage its dedicated healthcare capital and active investment strategy to find and support companies advancing the healthcare sector," said Robert Mittendorff, managing director, general partner and head of Healthcare at B Capital.
B Capital focuses on late-stage start-ups working in the enterprise, financial technology and healthcare segments. The investment firm manages nearly $6.3 billion worth of assets under management and operates nine offices across the US and Asia. It has a strategic partnership with Boston Consulting Group to support start-ups to scale and expand into new markets.
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 start-ups based in the US, Asia and Europe, spanning across healthtech, digital health, biotech and medtech segments.
B Capital has led investment rounds in Hotspot Therapeutics, Triumvira, CapitalRX and Carlsmed. In January 2023, it closed its Growth Fund III and affiliated funds with aggregate capital commitments of about $2.1 billion. B Capital's unique approach to global venture and growth investment, including its strategic partnership with Boston Consulting Group, 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.