Facebook co-founder Eduardo Saverin raises $143 million fund, to focus on India

Eduardo Saverin, the co-founder of Facebook, and prominent Silicon Valley investor Raj Ganguly have come together and raised $143 million fund for an Asia focus fund, using which they would invest in India and South East Asian countries.

As per sources, the amount was raised for venture capital investments from a pool of 18 investors. B Capital, the firm that Saverin and Ganguly run, invests in varied sectors like e-commerce, financial services, health & wellness and travel & transportation.

The reason behind a special emphasis on India and South Asia is that the region still faces many gaps, the duo stated.

"Whether it is funding availability, stage, talent, institutions, or exits, the presence of such whitespaces in the ecosystem makes it equally challenging and rewarding for investors," said Saverin and Ganguly in a blog post.

The fund would focus more on Series B and C rounds, given the potential openings that this segment offers. Having invested in Menlo Park-based Evidation Health, a population health management and analytics platform and Singapore-based Ninja Van, a last-mile logistics company for E-Commerce delivery and return, the firm is based in Singapore.

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