B Capital raises $250 million for Ascent Fund to back US and Asia startups

B Capital, a global investment firm focusing on tech startups has raised $250 million for Ascent Fund II to make early-stage financing for US and Asia startups.

• The fund will be deployed as $1 to $10 million per startup across fintech, software-as-a-service (SaaS), healthtech, logistics, and other tech startups.
• The pre-seed to Series A funding will go to startups in India, Indonesia, Vietnam, and others in the region.
• Ascent Fund is a dedicated early-stage fund from B Capital to invest in US and Asia startups and provide expertise and network toward shaping the future through technology.
• The Fund has invested in startups like Meesho, an e-commerce startup and PharmEasy, a digital pharmacy and medical store in India among others.  

Why this matters

Ascent Fund's new raise comes at a time startups in Asia are struggling to raise funds or convince existing investors to double down. The raise will create relief to the startup ecosystem in Asia as the deployment will impact entrepreneurs and the people through tech products and innovative services.