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BCG backs B Capital Group with US$360m fund
Published on: Tuesday, February 13, 2018

Kuala Lumpur: Digital technology investment firm, B Capital Group has announced that it closed B Capital Fund, L.P. at US$360 million, substantially exceeding the original target.

B Capital Group's new fund will continue to enable the firm to invest in innovation, bringing a global-first mentality to investing and partnering with entrepreneurs.

"B Capital Group is backed by partners who are both experts and innovators, and together they are reimagining venture capital and connecting emerging technology startups with global market leading corporations.

"Through its sponsorship from The Boston Consulting Group (BCG), B Capital Group provides the right introductions at the right time and partners with new companies to build and scale sustainable businesses.

"Ropes & Gray LLP provided legal counsel in connection with the fund raising," it said in a statement.

Meanwhile, Boston Consulting Group president and chief executive officer Rich Lesser said: "It is exciting to see how BCG's strategic partnership with B Capital Group continues to provide unparalleled connectivity between the world's leading corporations and innovative start-ups seeking to transform major industries."

Chairman of B Capital Group Howard Morgan said one of the biggest complaints about venture capital firms was that they lacked the proper structure and resources to connect startups with corporations.

"Therefore, the company has flawlessly solved this problem and redefined the traditional venture capital model to connect the technology of tomorrow with the business of today," he said. – Bernama

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