- B Capital, a venture firm, has raised $500 million in aggregate commitments for its latest fund, B Capital Ascent Fund III.
- The capital for the early-stage venture capital fund will be used to support the Seed, Series A, and Series B rounds of artificial intelligence-backed companies spanning technology, energy, and healthcare in North America and Asia.
- The oversubscribed fund has invested in over 20 companies across AI infrastructure, robotics, healthcare, and frontier technologies, B Capital said.
- Eduardo Saverin, co-founder and co-CEO of B Capital, stated, "We have entered a technology cycle that is reshaping industries and business models worldwide."
- The closing of B Capital’s latest fund comes after its predecessor fund, B Capital Ascent Fund II, raised $254 million in capital in July 2022.
B Capital has closed its latest venture capital fund, B Capital Ascent Fund III, with $500 million in commitments, significantly up from the $254 million raised by its predecessor fund in July 2022. This oversubscribed fund aims to invest in over 20 companies focusing on AI infrastructure, robotics, healthcare, and frontier technologies.135
Co-founder and co-CEO Eduardo Saverin emphasized the importance of this technology cycle, stating, "We have entered a technology cycle that is reshaping industries and business models worldwide. The most meaningful opportunities will not come from technology alone, but from entrepreneurs applying AI to transform industries such as healthcare, enterprise, energy and the next frontier."4
The fund's capital will support Seed, Series A, and Series B rounds, targeting innovative companies in North America and Asia. This strategic move aligns with B Capital's broader vision to leverage AI in transforming various sectors.2
Additionally, B Capital is in the process of acquiring Russell Investments in a deal valued at approximately $2.8 billion, expected to close in the first quarter of 2027, pending regulatory approval. This acquisition reflects the firm’s ambition to expand its influence in the investment landscape.
The closing of this fund marks a pivotal moment for B Capital, showcasing its commitment to driving innovation and supporting entrepreneurs in the rapidly evolving tech landscape.
“B Capital's oversubscribed Ascent Fund III has already invested in over 20 companies across AI infrastructure, robotics, and healthcare. Meanwhile, Kuramo Capital closed roughly $500 million in mandates anchored by African pension funds, including commitments to the iDICE initiative alongside Nigeria's Bank of Industry.”
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