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Alternative Assets  + VC  |  March 8, 2023
Venture Firm B Capital Makes Bet on Healthcare with $500M Debut Fund
Joe Palmisano
By: Joe Palmisano

Venture Firm B Capital Makes Bet on Healthcare with $500M Debut Fund

B Capital, a NYC- and Singapore-based global multi-stage venture firm, has closed its $500 million debut Healthcare Fund I that hunts for opportunities in the healthcare sector.

The new fund kicked off when Dr Robert Mittendorff joined B Capital as General Partner in April 2021 to lead the fund and its global healthcare initiatives. The firm aims to double down on opportunities across health tech, digital health, biotech and medtech verticals with the new capital.

“Technological advancements in biology, AI and automation are transforming the industry, with business models seeing the convergence of traditional players in novel ways,” said Robert Mittendorff, Managing Director, General Partner, and Head of Healthcare at B Capital.

The healthcare sector is not new to B Capital, which has built a global portfolio of 20 firms across the US, Asia and Europe spanning early- to late-stage investments, including Hotspot Therapeutics, Triumvira and CapitalRX.

B Capital’s healthcare fund follows the close of Growth Fund III in January at $2.1 billion. With the close of these funds, the firm’s total assets under management are approximately $6.3 billion.

Founded by Raj Ganguly and Facebook co-founder Eduardo Saverin in 2014, the firm has an integrated team across nine locations in the US and Asia and a strategic partnership with Boston Consulting Group to expand into new markets and support entrepreneurs across all growth stages.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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