Welcoming the guests in his office, which occupies eight floors of the business center Land Tower in Singapore, Eduardo Saverin always knows what question he will ask first. This is a question about Facebook. 37-year-old co-founder of the home of the social networking world is not only one of the youngest in the world of billionaires (Forbes estimates his fortune at $9.5 billion), but the real hero of pop culture — in the famous film by David Fincher “the Social network” about the history of Facebook it has played a Hollywood star Andrew Garfield.
In recent times Saverin noise in the information field in 2011, when he renounced U.S. citizenship and moved to Singapore. The media suspected him of unwillingness to pay $700 million in taxes at home, but the entrepreneur that the reason for emigration was denied. He fled from the imposed label former colleague of Mark Zuckerberg, and the main thing for him now is to tell the world about the new Eduardo Saverine, sample 2019. It’s not a co-founder of the “strange” Facebook and the founder of a private venture capital Fund B Capital, ready to break into the top League of world investment market.
“[On Facebook] I’m talking frankly, because you understand the nature of curiosity. But much nicer when partners want to get to know me personally and not make a submission on the films,” says the billionaire in the first seven years of the interview.
B Capital he founded in 2015 together with his partner Raj.. A Fund of $360 million (the share of Severina this amount is not disclosed) is seeking investment targets among technology startups, and from the competitors it features a truly competitive advantage — the lack of geographical reference. 30 employees are working B Capital of California (San Francisco and Los Angeles), new York and Singapore, and focus from all over the world. Another strong point is an exclusive cooperation with the consulting giant Boston Consulting Group (BCG), which provides companies from the portfolio. Severina and expertise and access to a wide base of customers. Finally, the user B Capital in recent times came a few managers with experience in technology companies, including Apple and Box. All these facts indicate the willingness of the founders to move into the category of major players in the market, does not hide Saverin: “no Matter how I’m lucky and smile whether the luck of sitting on the beach I’m not going to. We have to show the world more as much new and useful technology!”
Love in Singapore
In 2012, when mark Zuckerberg was celebrating the release of Facebook to the stock exchange and solemnly signaled the beginning of trading on NASDAQ of the California office, about Eduardo Saverine who were in the other hemisphere, in the company almost nothing looked familiar, except that the records in the registration documents. From startup he’s co-founder left in 2005, for the next few years to spend in litigation for the sake of a 53 million shares of the social network. Moving to Singapore was in 2009, and the renunciation of American citizenship — for 2011. All this time, Saverin remained a regular in the gossip columns in the tabloids discussing his Bentley, Hiking clubs and the Royal accounts in bars, sometimes taking a $50,000 per night.
Over the years, the entrepreneur tells a completely different story. Saverin was born in Sao Paulo, but grew up in prosperous Florida. After studying in a private school, he entered the Economics faculty of Harvard University, where in his third year, fate brought him with Zuckerberg. After Facebook Saverin dabbled in other start-UPS, until I moved to Singapore. In the Asian city-state he initially arrived to help run the business other. But the back is not left — entrepreneur from the first sight fell in love with Singapore, and later started to meet with local native of Elaine, who later became his wife. However, future spouses met in the United States — Elaine went to tufts University in Massachusetts.
Saverin shares his delight: “Singapore is a terrific shelter for a technology fan like me. Besides, it is possible to reach a maximum of five hours from tons of places on the planet.” He still says that fled from the American tax burden, and genuinely wanted to settle in his favorite city.
The founders of the startups who meet with Severina in 2019, I do not know exactly with whom they are sitting next technological genius, able to win gold for their projects, or a billionaire-the upstart, the main achievement of which was still in 2005
Today, the entrepreneur does not let the arrows in his famous address of the company — on the contrary, stresses that boasts a joint with Facebook in the past (and partly present — with a package of almost 2% Saverin is one of the largest private shareholders of the company, the capitalization of which is about to attack $500 billion). In an older interview, Saverin even admitted that the social network “dear to his heart,” and praised the development strategy of Zuckerberg: “He built a business of incredible scale and evaluation and is doing everything to develop further.”
Co-founder of Facebook even ready to trust your ex technological education of his son. When Forbes asked the owner whether its a young child is criticized by a screen for video calls with Facebook Portal, he replied: “I Hope while he’s there to register is too small. But when you’re older, perhaps he Portal will be useful”.
The Fellowship Of The Harvard
Venture investments Saverin took a few years after the IPO of Facebook, which officially made him a billionaire (at the time of placement, the proportion of co-founder was valued at $2 billion): B Capital was founded in 2015. Raj. has taken the issues of operational management, and his famous partner oversees applications from potential investees and conducting the strategy of the Fund in the countries of South-East Asia and India. “People come and expect to see a rock star, and he’s just sitting at the table and begins to ask them about the early delivery dates and the chances of success,” says..
He’s friends with Saverino even from Harvard, where he studied at the school of business at the University, and conducts joint projects with 2012, when the two friends were in Singapore. Saverin had already subscribed to the startups, small checks, but received support in the face. in the past the top Manager of investment company Bain Capital, has aimed not only to invest but also to attract to invest someone else’s money. Their first Fund Velos Partners $80 million was mainly focused on the consumer market. And to 2015-mu was born the concept of B Capital — venture capital is a noticeable player in the region with an integrated partnership model with BCG.
When looking at the portfolio B Capital, the $ 20 investment — easy to understand specialization of the Fund. Saverin and. prefer company in the fields of trade and logistics, working in Europe, India and South-East Asia. Their task is to find projects that have not yet come to the attention of the giants of Silicon valley and are well versed in the specifics of local markets.
Take, for example, the Singapore Ninja Van, operator logistics in several countries in Asia. Start-up own 2000 workers and 10,000 drivers-freelancers. It is an expensive and complicated business, but the Capital B is not afraid of ambitious models. Lai Chang Wen, CEO of Ninja Van, said: “Eduardo and his team asked a very valid question. They can give us more insight on where and how best to conduct business.”
The icing on the cake
For BCG the partnership with the Foundation Severina is also useful: from the company do not require financial investments in risky projects — only time, advice and assistance with clients. Specialization B Capital completely satisfied consulting company in the areas where the need for investment partners from Singapore, in other venture capital players is not so much expertise. Saverin and. give partner a net benefit without any obligation. “[The opportunity to work with Boston Consulting] is the icing on the cake,” admits Samir Bodas, the CEO of the company-software developer of Icertis Bellevue, Washington, which is due to relations of partners from BCG concluded at least three multimillion-dollar deals.
Model B Capital made an impression on the new, the seventh partner of the Fund Karen Appleton Paige, former Manager of the Apple and Box. Recollecting about the first years of the development Box (she was the eighth employee of the company), Paige does not hide the envy of companies in the portfolio Severina and.: “Then in the Box for connection with the Boston Consulting we would give much.”
Another personnel proof of the excellent reputation of B Capital in the market — coming in 2017 for the post of President Howard Morgan. Co-founder of the investment Fund First Round Capital, he is known for investing in the early stages of the taxi service Uber and online eyeglass store Warby Parker. Now as a Manager he oversees the expansion of the new employer.
Despite the rapid growth of business to talk about how Capital B on the second principal project in life Severina prematurely. The Fund has not made any exit, although with a half-dozen investment and has grown considerably in the rating since the receipt of funds from the B Capital. At the same time in the most famous in the entire portfolio of project — manufacturer, scooter Bird (this company faster than anyone in history — in less than a year — has passed the way from inception to becoming a “unicorn”, a startup valuation of $1 billion) — and Saverin. went to quite a late stage.
However, in the future partners B Capital optimistic. They have distributed the means of their first Fund and are in talks about forming the next. According to the forecast of Forbes sources familiar with the details of the project, B of new Capital in terms of attracting money will be twice the previous — more than $700 million Officially, these data are the Foundation’s representatives do not comment.
The founders of the startups who meet with Severina in 2019, I do not know exactly with whom they are sitting next technological genius, able to win gold for their projects, or a billionaire-the upstart, the main achievement of which left in 2005. Saverin is doing everything that others believed in the first image. The course is slightly reformulated the slogan of the Facebook fifteen years ago about the need “to spin rapidly and break stereotypes.” “Make mistakes constantly but I learn from them. Apologise if they touch someone else. And make every effort not to repeat them,” the postulates investor his message to a new generation of entrepreneurs.
Read more •••