Account
B Capital is a New York-based global multi-stage investment firm founded in 2015 by Eduardo Saverin (co-founder of Facebook), Raj Ganguly (former Bain Capital executive), and Howard Morgan (co-founder of Renaissance Technologies and First Round Capital). The firm manages more than $12 billion in assets under management across multiple funds, with offices across nine locations in the US and Asia.
B Capital backs companies from seed through late-stage growth across four core sectors: technology (AI infrastructure, enterprise software, robotics), healthcare (digital health, biotech, medical devices), energy (clean energy, frontier tech), and the next frontier (space, defense, deep tech).
The firm's thesis is that AI is driving a new wave of value creation primarily in enterprise adoption, the "plumbing" of AI integration, rather than at the foundation model layer.
B Capital Ascent Fund III closed oversubscribed at $500M in July 2026, nearly double the $254M raised for Ascent Fund II in July 2022.
The fund focuses on Seed, Series A, and Series B rounds across AI, healthcare, energy, and frontier technology in North America and Asia.
The fund has already invested in more than 20 companies, with early positions in Apptronik, Havoc AI, and Star Catcher. LP composition is not publicly disclosed.
Leadership
Eduardo Saverin is Co-Founder and Co-CEO, co-founder of Facebook.
Raj Ganguly is Co-Founder and Co-CEO, former Bain Capital executive.
Howard Morgan is Chair and General Partner, co-founder of Renaissance Technologies and First Round Capital.
Yan-David (Yanda) Erlich is General Partner leading Tech AI investments. Robert Mittendorff is Head of Healthcare.
Jeff Johnson is General Partner and Head of Resilience Tech. Timur Akazhanov is General Partner and Head of Strategic Growth.
Investment Strategy
B Capital operates across seed through late-stage venture and growth, writing checks from early-stage rounds through growth equity.
Ascent Fund III focuses on Seed through Series B, while the firm's broader platform extends into later stages.
The BCG strategic partnership is a structural differentiator, giving portfolio companies access to BCG's global consulting network for market entry, enterprise sales, and operational transformation.
The firm's proprietary AI platform supports sourcing, evaluation, and post-investment portfolio management.
B Capital operates from nine offices including New York, San Francisco, London, Singapore, and Doha.
Notable Investments
Eduardo Saverin — Co-Founder & Co-CEO
eduardo@b.capital
Raj Ganguly — Co-Founder & Co-CEO
raj@b.capital
Howard Morgan — Chair & General Partner
Matt Levinson — Venture Partner
mlevinson@bcapgroup.com
Allen Duan — General Partner
allen@b.capital
United States
