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B Capital, the VC firm from Facebook co-founder Eduardo Saverin, has made the first close of its second fund.

The firm has closed out $406 million in initial capital, according to a filing lodged with the FCC last month. The document doesn’t include details of a target raise or which LPs have committed. Saverin came to prominence as a co-founder of Facebook, but he has rebuilt himself as an investor with a particular focus on Asia.

B Capital is a relatively new entrant but already this new fund represents an upsized raise, even without the final close. B Capital’s first fund closed $360 million last February with consulting firm BCG a major backer from the get-go. The firm pitches itself as a bridge between the corporate world and quality startups, an area where its BCG alliance no doubt carries significant weight.

The firm is based out of Southeast Asia — where Saverin has lived since renouncing his U.S. citizenship in 2011 — but it investors globally and has a San Francisco office. Its focus covers financial services, insurance, health, industrial, transportation and “consumer enablement.” To date, B Capital has invested in 19 startups, according to its website, and those include scooter startup Bird, insurance-focused CXA — which raised $25 million last month — Indian fintech startup Mswipe — which announced a $30 million round last week — and logistics firm NinjaVan.

Saverin has also made investments via his family fund, Velos, but its involvement has tapered down since B Capital launched.