B Capital, a Manhattan-based multi-stage venture capital firm founded by Raj Ganguly and Facebook co-founder Eduardo Saverin, has announced the launch of Healthcare Fund I. The fund will focus on investing $500 million in healthcare startups in the United States, Asia, and Europe that are focused on specific sub-sectors such as biotech and medtech. The new fund will take B Capital’s total assets under management (AUM) to $6.3 billion.
According to a statement by the VC firm, Healthcare Fund I will leverage its dedicated healthcare capital and active investment strategy to support companies advancing the healthcare sector. Robert Mittendorff, Managing Director, General Partner, and Head of Healthcare at B Capital, will lead the new fund and the firm’s overall healthcare initiatives.
B Capital has backed over 20 healthcare startups in the United States, Asia, and Europe. The firm has also backed over 140 companies globally across consumer, B2B enterprises, and fintech sectors. In India, B Capital has backed over 20 startups from the early to growth stages, including BYJU’S, Meesho, and Pharmeasy.
In January 2023, the company announced the close of Growth Fund III and affiliated funds with aggregate capital commitments of approximately $2.1 billion. B Capital has an integrated team across nine locations in the United States and Asia and a strategic partnership with BCG to expand into new markets and support entrepreneurs across all growth stages.
B Capital to invest in companies advancing the healthcare sector
“We are witnessing unprecedented innovation across the healthcare landscape,” said Mittendorff. “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 find and support companies advancing the healthcare sector.”
With the launch of Healthcare Fund I, B Capital is poised to further cement its position as a leading investor in the healthcare industry. By focusing on specific sub-sectors such as biotech and medtech, the firm is looking to capitalize on the technological advancements in the industry to support companies that are transforming the healthcare landscape.
In conclusion, the launch of Healthcare Fund I is a significant development for the healthcare industry, and it is expected to have a positive impact on the growth of healthcare-focused startups in the United States, Asia, and Europe. By committing to invest $500 million in healthcare-focused startups, B Capital is demonstrating its commitment to supporting the development of the healthcare sector and helping to drive innovation in the industry.
