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Facebook Co-Founder Saverin’s Venture-Capital Firm Raises $143.6 Million

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John Nelson
May 19, 2016 10:08

SINGAPORE—A venture-capital firm launched last year by Facebook Inc. co-founder Eduardo Saverin and a partner has raised more than $143.6 million in the first close for its first fund, according to a regulatory filing Thursday.

B Capital Group, which was founded in 2015 by the Brazilian-born Mr. Saverin and Raj Ganguly, a veteran of private-equity firm Bain Capital LLC, said in a document reviewed by The Wall Street Journal Thursday that it sees promising opportunities to invest in innovative tech firms around the world, not just in traditional hot spots like Silicon Valley.

The fundraising comes as some venture capitalists are starting to curtail funding in Asia amid weakness in the global economy, worries over China s volatile stock market and talk of a bubble in the U.S.

The World Bank in January said that India, which is home to some 1.3 billion people, will be the world s fastest-growing developing economy until at least 2018.

B Capital Group also said in a document reviewed by The Wall Street Journal that it had already invested undisclosed amounts in its first two portfolio companies.

Mr. Ganguly declined to comment on the size of the Ninja Van and Evidation investments, or on a possible time frame for investing the new funds.

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John Nelson
May 19, 2016 10:08
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