Eduardo Saverin’s B Capital already past $400m for Fund II, having closed $360m Fund I in February

B Capital, a venture capital firm launched by Facebook co-founder Eduardo Saverin, has already passed $400m for its second fundraise just weeks after closing its $360m debut vehicle.

Recent investments made by the firm include Indian payments company Mswipe, while its portfolio also includes SME lending business CapitalMatch and car subscription service Carro.

The Singapore-based investor has registered $406.1m from 62 backers to date according to a US regulatory filing for B Capital Fund II.

No target has been revealed for the firm’s second fundraise, but the filing indicates the raise will continue for more than 12 months.

B Capital easily beat its $250m target for its debut fund through a final close in early February.

Ineo Capital acted as a placement agent for that raise, although no agent is listed in the SEC filing for Fund II.

B Capital was co-founded by Saverin and former Bain Capital senior vice president Raj Ganguly.

Target industries for the investment house include financial services, health and wellness, consumer enablement, and industry and transportation.

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