Eduardo Saverin’s B Capital Raises Its First Early-Stage VC Fund

B Capital Group, an investment firm run by Facebook co-founder Eduardo Saverin, raised $250 million for its first early-stage venture fund.

The firm already has more than $6 billion in assets under management and deploys it across the globe, with about half in the US and half elsewhere, largely in Asia. Most of B Capital’s money goes toward later-stage investing, but it recently began experimenting with a small, early-stage investment fund using money from the firm’s partners. That inspired B Capital’s leaders — including Saverin and investor Howard Morgan, who co-founded First Round Capital — to create an early-stage fund open to outside capital.