B Capital Raises $500 Million for Ascent Fund III as AI Startup Demand Lifts Venture Bets

3 articles · Updated · Forbes · Jul 8

$500 million for Ascent Fund III gives B Capital a nearly doubled early-stage war chest after its 2022 predecessor raised $254 million.
Investor appetite for AI startups drove the oversubscribed fund, with backing from both existing and new limited partners, the firm said.
More than 20 companies have already received investments from the fund, which targets seed through Series B startups in North America and Asia.
Eduardo Saverin-backed B Capital, founded in 2016, now manages more than $12 billion across funds spanning seed to late-stage investing.

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