B Capital—an investment firm backed by Facebook cofounder, Eduardo Saverin—has raised $500 million for its early stage venture capital fund, Ascent Fund III, amid investor confidence in AI startups.

The fund was oversubscribed and nearly double the size of B Capital Ascent Fund II, which raised $254 million in 2022, thanks to strong backing from both existing and new investors, the company said in a release this........

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