Confirmation Bias in investment decision

On July 20, 2022, B Capital, a multinational multi-stage investment company, announced closing its USD 250 million Ascent Fund II, its first designated early-stage fund.

With a focus on the US and Asia, the Ascent Fund will invest in pre-seed through Series A rounds around the globe.

General partners Howard Morgan, Gabe Greenbaum, Karen Page, founder, and managing partner Eduardo Saverin, and associate Karan Mohla formed the Ascent team.

What the company has to say:

Karan Mohla, Partner, B Capital:

“From a strategic perspective, the early stages are crucial for us. Although much has been accomplished in India and Southeast Asia, much more can be done. These markets are still in their infancy. We think we can provide value by concentrating on enterprise, SaaS, B2B, health tech, logistics, mobility, and transportation, which will support the expansion of many industries. There is a long-term, one-way demographic trend that is present.

Deals will typically have ticket amounts between $500,000 and $10 million. Around $1-3 million at the seed round and $5-7 million at the Series A round will be the sweet spot. Finding the correct and best group of founders with unique and disruptive business ideas will be the key.”

What the investors have to say:

 General partner Howard Morgan in a statement:

“My forty years of investment have taught me that founders at the early stages have the best perspective on the market’s direction. Ascent enables us to collaborate with these entrepreneurs to create outstanding businesses early on.”

More about the startup:

To offer entrepreneurs value-added support, B Capital, founded in 2015, uses an integrated workforce spread across eight sites in the US and Asia and a strategic alliance with Boston Consulting Group (BCG).

B Capital can link its portfolio firms to a global network of business executives ready to collaborate with innovative technology because of the fund’s strategic connection with BCG.

B Capital has announced several new appointments and promotions to strengthen the firm’s leadership team and support its expansion. The new Fund closure is the company’s most recent accomplishment. To oversee its investment activities in India, the fund engaged former Chiratae Ventures CEO Karan Mohla in January 2022.

B Capital concluded its second flagship fund in 2020 with pledges totaling USD 822 million, including an anchor investment from the management consulting company BCG. A USD 415 million “Elevate” fund was also established in 2021 to make additional investments in late-stage startups. Among the companies B Capital has invested in India are Khatabook, Byju’s, Meesho, and Dailyhunt.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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