The fund, called the Ascent Fund, will also be led by general partners Gabe Greenbaum and Karen Page and partner Karan Mohla, B Capital plans to announce Tuesday.
B Capital Group, an investment firm run by Facebook co-founder Eduardo Saverin, raised US$250 million ($349.2 million) for its first early-stage venture fund.
The firm already has more than US$6 billion in assets under management and deploys it across the globe, with about half in the US and half elsewhere, largely in Asia. Most of B Capital’s money goes toward later-stage investing, but it recently began experimenting with a small, early-stage investment fund using money from the firm’s partners. That inspired B Capital’s leaders — including Saverin and investor Howard Morgan, who co-founded First Round Capital — to create an early-stage fund open to outside capital.
