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The venture capital firm started by and Facebook co-founder closed on $820 million for its second fund to invest in growth-stage startups, the company announced Tuesday.

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, a 6-year-old firm backed by , said it invests in rapidly scaling business-to-business startups that are transforming large industries, such as enterprise technology, fintech, health care technology, transportation and logistics. Its funds typically invest between $10 million and $60 million in Series B, C and D rounds.

The new fund gives the San Francisco-based firm $1.44 billion in total assets under management, the company said in a written statement. Its first fund in 2018, with subsequent rounds closing at in 2019 and in 2020.

In addition to San Francisco, the company has offices in Los Angeles, New York and Singapore.

With many companies entering the digital age as a result of the COVID-19 pandemic, Ganguly, B Capital鈥檚 co-founder and partner, said in a written statement that it shows there is an unmet need for digitization.

鈥淲e believe the next 10 years will see a major shift in innovation as entrepreneurs examine industries and practices from new angles and find ways to accelerate connectivity between systems, companies and people,鈥� he said.

B Capital boasts a portfolio of nearly 30 companies in Asia, Europe and the United States. Over the past few months it has led several funding rounds, including an round for travel data company , a financing for , a crowdsourced security platform, and a round for digital ledger app .

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