B Capital, the global investment firm, whose India bets include Meesho, Dailyhunt, and BlackBuck among others, has closed its third early-stage fund at $500 million, as it looks to back young companies building around artificial intelligence (AI) and other frontier technologies.
The firm, cofounded by Facebook cofounder Eduardo Saverin and Raj Ganguly in 2015, has been active in India since 2016, starting with investments in Icertis and BlackBuck. While B Capital had earlier focused more on India-for-global companies, Howard Morgan, chairman and general partner at B Capital and cofounder of First Round Capital, had told ET in March that India’s large domestic consumer market had made the firm more open to India-for-India opportunities as well.
