B Capital Closes Massive $500 Million Fund as Deep Tech Thrives

The oversubscribed fund will target seed to Series B startups developing technologies across enterprise software, healthcare, energy, robotics, and frontier technology in North America and Asia . "AI is creating extraordinary opportunities across every industry," said Howard Morgan, chair and general partner at B Capital . "We believe the fund is well positioned to capture this moment through our deep sector expertise, strong investor relationships and global reach."

B Capital, founded in 2015 by Eduardo Saverin and Raj Ganguly, manages over $8 billion in assets globally and has backed Indian startups including Meesho, Dailyhunt, and Blackbuck . The firm said Ascent Fund III has already deployed capital in more than 20 companies, including robotics startup Apptronik, defence technology company Havoc AI, and space infrastructure startup Star Catcher, spanning AI infrastructure, robotics, and healthcare .

Note: An earlier B Capital Opportunities Fund II, focused on later-stage growth investments, was raised in 2024 at $750 million . The current announcement concerns Ascent Fund III, the firm's early-stage vehicle.

Startups are using this funding to build physical solutions. Clean-tech startups are deploying AI models directly into household smart meters, allowing residential solar setups to automatically trade excess power back to municipal grids when prices peak. GNA Energy launched GNAi, a cloud-based AI platform that integrates smart meter readings, grid data, and weather data to enable forecasting and optimization in India's power sector . The platform supports emerging applications such as peer-to-peer energy trading, demand response programs, and distributed energy resource integration—turning homes into active participants in the energy market rather than passive consumers .