B Capital, a Singapore-based multi-stage investment firm, has closed its inaugural B Capital Healthcare Fund I at $500 million.

The fund which was in conjunction with B Capital Growth Fund III, will be allocated across the healthcare sector, from digital health to biotech, B Capital said in a statement on Wednesday.

“We are witnessing unprecedented innovation across the healthcare landscape,” said Robert Mittendorff, Managing Director, General Partner and Head of Healthcare at B Capital.

“Technological advancements in biology, artificial intelligence (AI), and automation are transforming the industry, with business models seeing the convergence of traditional players in novel ways,

“This moment presents a unique opportunity for B Capital to leverage our dedicated healthcare capital and active investment strategy to find and support companies advancing the healthcare sector,” he added.

Mittendorff joined B Capital in April 2021 to lead Healthcare Fund I and B Capital’s broader healthcare initiatives globally.

The B Capital Healthcare team is focused on deploying capital to category-defining companies that are building breakthrough products and solutions shaping the future of

“B Capital has decades of collective operating experience in the healthcare industry and a deep technical focus that allows us to identify and support the best companies in the space,” said Howard Morgan, Chair and General Partner of B Capital.

“Our unique value-add approach to global venture and growth
investment, including our strategic partnership with Boston Consulting Group (BCG), places founders and management teams front-and-center, surrounding them with resources they need to transform large markets through innovation and customer-focused solutions,” he added.

The current B Capital global healthcare portfolio includes over 20 companies in the United States, Asia and Europe, spanning early venture to late growth venture, across healthtech, digital health, biotech and medtech.

Notably, the team co-led the latest round of investment in Hotspot Therapeutics, an AI-enabled drug discovery company, and led the latest round in Triumvira, a novel cell therapy platform in clinical development.

The team also led the latest financing in CapitalRX, a transformative tech platform for pharmacy benefits management.

In medtech, the team led the last round in Carlsmed, an AI-enabled personalized spinal implant company.

In January 2023, B Capital announced the close of Growth Fund III and affiliated funds with aggregate capital commitments of approximately $2.1 billion.

With these fund closes, B Capital’s total assets under management are approximately $6.3 billion.

B Capital is a multi-stage global investment firm that partners with extraordinary entrepreneurs to shape the future through technology.

The firm focuses on seed to late-stage venture growth investments, primarily in the enterprise, financial technology and healthcare sectors.

Founded in 2015, B Capital leverages an integrated team across nine locations in the United States and Asia, as well as a strategic partnership with BCG, to provide the value-added support entrepreneurs need to scale fast and efficiently, expand into new markets and build exceptional companies.

B Capital closes third venture growth fund at $2.1B