B Capital Group, the US-based venture capital firm affiliated with consulting firm Boston Consulting Group (BCG), closed its second fund at $820m on Tuesday.
Founded in 2014, B Capital targets growth-stage deals and pursues a portfolio management strategy that involves connecting its companies to corporates which can help them scale, through a network provided by BCG.
The firm invests between $10m and $60m per round, at series B to D stage, and its areas of interest include enterprise software as well as financial, healthcare, consumer, transportation and logistics technology.
Raj Ganguly, B Capital’s co-founder and managing partner, said: “Although technology is already embedded in nearly every sector and aspect of daily life, the last three months show us there is still extensive unmet need when it comes to digitisation.
“We believe the next 10 years will see a major shift in innovation as entrepreneurs examine industries and practices from new angles and find ways to accelerate connectivity between systems, companies and people.”
The firm said the close brought the total amount of assets under management to $1.44bn. It had closed an oversubscribed first fund at $360m in early 2018.
B Capital’s portfolio includes Bird, the electric scooter rental service valued at more than $2.7bn, as well as last-mile delivery service Ninja Van, contract management platform developer Icertis and freight services provider BlackBuck.
