B Capital closes $500 million Ascent Fund III to fuel AI startups

Global venture capital firm B Capital announced the final close of its Ascent Fund III at a hard‑cap of $500 million, nearly doubling the size of its predecessor. The fund, which was oversubscribed, will focus on seed, Series A and Series B investments in companies developing artificial‑intelligence, robotics, healthcare, energy and other frontier technologies across North America and Asia. Founded in 2015 by Eduardo Saverin, Ravi Ganguly and Howard Morgan, B Capital manages more than $12 billion in assets and has been active in India since 2016. The new Ascent Fund III has already backed over 20 high‑conviction firms, including Apptronik, Havoc AI and Star Catcher, and will use the firm’s proprietary AI platform to support founders through later growth stages.

The closure reflects strong investor appetite for early‑stage AI‑driven companies, with B Capital positioning the fund as a long‑term partner for entrepreneurs shaping the next generation of global industries.