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UPDATE 1-Facebook co-founder Saverin's B Capital raises $750 mln in new fund

(Rewrites paragraph 1, updates with details and background from paragraph 2)

March 19 (Reuters) - Facebook co-founder Eduardo Saverin's global investment firm B Capital on Tuesday announced the close of its second Opportunities Fund, with total fundraising of $750 million as it bets on late-stage startups.

The fund will mainly be used to identify investment opportunities in existing portfolio companies in sectors like technology, healthcare and climate tech, B Capital said in a statement.

The fund is nearly double the size of its predecessor, it added.

The fund received strong participation from both existing and new investors, said B Capital, which has in the past backed Indian startups like Think & Learn's Byju's, Meesho and Pharmeasy.

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"In this challenging environment for many private tech companies, we are pleased to have nearly doubled the capital we have available to back the best founders in the B Capital portfolio and other entrepreneurs we have closely followed," said Saverin, the co-founder and co-CEO of B Capital.

B Capital was founded in 2015 and has more than $6 billion in assets under managements across various funds, according to its website. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Varun H K)