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Investment firm B Capital Group today announced that it has closed a new US$360 million fund for global tech startups.

Called B Capital Fund, the fund is claimed have exceeded its original target.

“We continue to strive to be a launch pad for entrepreneurs across a wide range of verticals and seek to provide our portfolio companies with the necessary resources and access to some of the most important business leaders,” B Capital Group Co-Founder & Partner Eduardo Saverin said in a press statement.

“We are committed to helping the next generation of entrepreneurs deliver transformative technology to the world and are strategically positioned to disrupt the realm of venture investing,” he added.

Founded by Raj Ganguly and Saverin (who is widely known as the co-founder of Facebook), B Capital Group is run through a strategic partnership with management consulting firm The Boston Consulting Group (BCG).

With offices in Los Angeles, San Francisco, New York, and Singapore, it invests in healthcare, financial services and insurances, as well as industrial and consumer-enabled businesses globally.

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In Asia, the firm’s recent investment since the launch of the fund includes Singapore-based logistics startup Ninja Van, Mumbai-based fintech startup Mswipe, Singapore-based medtech startup CXA, and Hong Kong-based fintech startup Capital Match

In October 2017, the firm appointed finance veteran Howard Morgan as Chairman.

Morgan was known as the founder of First Round Capital, the first institutional investor in Uber.

“Transitioning from advisor to Chairman and witnessing B Capital Group’s successes since the firm’s inception has been a highly rewarding experience,” he commented.

“One of the biggest complaints about venture capital firms is that they lack the proper structure and resources to connect startups with corporations. B Capital Group has flawlessly solved this problem and redefined the traditional venture capital model to connect the technology of tomorrow with the business of today,” he added.

Image Credit: Alex Kotliarskyi on Unsplash