DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Funds / B Capital Opportunities Fund II, L.P.
B Capital Opportunities Fund II, L.P.
Active deploymentClosed to new capitalOpportunity fundADV: Venture Capital FundB Capital GroupCayman Islands
Amounts, each with its basis
- Vintage
- 2022basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- $754Mwhat may be sold, not what was raised; file 021-448382, sworn by the adviser or filed under this vehicle
- Form D sold
- $754Mas of the filing of Mar 15, 2024, 52 investors
- First sale
- May 23, 2022
- Reported GAV
- $813Mon the Form ADV filed Sep 14, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 65
- Reported on ADV
- Mar 31, 2023 to Sep 14, 2026
Fundraising evidence
Closed to new capital
Form D filed or amended 2024-03-15: the stated $754.1M offering reported fully sold (fr-1)
evidence dated Mar 15, 2024. A Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Lifecycle
Active deployment
vintage 2 to 4 years
age years: 4first sale: 2022-05-23vintage year: $2,022adv gav as of: 2026-09-14vintage basis: form_d_first_saleform d sold usd: $754Mform d offering usd: $754Mform d latest filed at: 2024-03-15
The fund's own reporting through time
4 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2023 | Venture Capital Fund | $321M | 28 | $5.0M | 5% | yes | |
| Sep 1, 2023 | Venture Capital Fund | $321M | 28 | $5.0M | 5% | yes | |
| Mar 28, 2024 | Venture Capital Fund | $810M | 53 | $5.0M | 5% | yes | |
| Sep 14, 2026 | $813M | 65 | $5.0M | 5% |
Principals and agents
3 principals on Form D, 2 placement agents
- B Capital Opportunities GP II, L.P. Promoter
- B Capital GP Select 2022, L.P. Promoter
- B Capital Opportunities GP II, L.P. general partner (ADV 7.B.(1).A.3)
- Connaught (U.S.) LLC placement agent
- Astris Advisory Japan Kk placement agent
Limited partners and their reported performance
2 public LP reports
| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| California Public Employees' Retirement System calpers.ca.gov | 2024 | $240M | $60.6M | $0 | $75.4M | not meaningful yet | unknown | Dec 31, 2025 |
| New York State Common Retirement Fund osc.ny.gov | 2024 | $150M | $12.2M | $0 | $22.6M | not meaningful yet | 1.9x | Mar 31, 2025 |
Each row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
6 events
- Dec 31, 2025CalPERS reports B Capital Opportunities Fund II, L.P.: $240,000,000 committed, vintage 2024LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Dec 31, 2025CalPERS reports B Capital Opportunities Fund II, L.P.: $240,000,000 committed, vintage 2024LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Mar 31, 2025NYSCRF reports B Capital Opportunities Fund II, L.P.: $150,000,000 committed, vintage 2024LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Mar 15, 2024B Capital Opportunities Fund II, L.P. filed Form D/A: $754,082,500 sold of $754,082,500, Venture Capital FundForm D filed Fact SEC EDGAR Form D data sets (quarterly)
- Mar 31, 2023B Capital Opportunities Fund II, L.P. first reported on Form ADV by B Capital Group (Venture Capital Fund), GAV $321,365,000Fund first reported on Form ADV Fact SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jun 7, 2022B Capital Select Fund 2022, L.P. filed Form D: $309,890,000 sold (indefinite offering), Venture Capital FundForm D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
33 observations
Every observation on this vehicle
- Adv pdf fund: B CAPITAL OPPORTUNITIES FUND II, L.P. Sep 14, 2026 Fact IAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)
- Entity type: Other Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Entity type: Other Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Form D fund type: Venture Capital Fund Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Form D fund type: Venture Capital Fund Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Form D industry group: Pooled Investment Fund Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Form D industry group: Pooled Investment Fund Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Amendment: true Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Amendment: false Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Revenue range (Form D): Decline to Disclose Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Revenue range (Form D): Decline to Disclose Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Incorporated: withinFiveYears Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Incorporated: withinFiveYears Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Jurisdiction: CAYMAN ISLANDS Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Jurisdiction: CAYMAN ISLANDS Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Amount sold (Form D): $754M Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Amount sold (Form D): $310M Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Offering amount (Form D): $754M Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Exemptions: 06b, 3C, 3C.7 Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Exemptions: 06b, 3C, 3C.7 Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- First sale: 2022-05-23 Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- First sale: 2022-05-23 Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Indefinite offering: true Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Investors (Form D): 52 Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Investors (Form D): 23 Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Minimum investment (Form D): 0 Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Minimum investment (Form D): 0 Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Securities offered: pooled Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Securities offered: pooled Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Office address: C/O B CAPITAL GROUP MANAGEMENT, L.P., 1240 ROSECRANS AVE., 5TH FLOOR, MANHATTAN BEACH, CA, 90266 Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Office address: C/O B CAPITAL GROUP MANAGEMENT, L.P., 1240 ROSECRANS AVE., 5TH FLOOR, MANHATTAN BEACH, CA, 90266 Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)
- Year of incorporation: 2021 Mar 15, 2024 Fact SEC EDGAR Form D data sets (quarterly)
- Year of incorporation: 2021 Jun 7, 2022 Fact SEC EDGAR Form D data sets (quarterly)