The firm was founded by one of the creators of social media colossus Facebook.

B Capital, the venture capital firm backed by a Facebook founder, Eduardo Saverin, has appointed a new chairman, Howard L Morgan. Morgan, who was an executive at Renaissance Technologies, the hedge fund group, is also co-founder of First Round Capital, a VC firm. 

The firm also, according to the New York Times and other media, has named Joe Davis, chairman of the Boston Consulting Group’s North American operations, as vice chairman; hired Allen Duan as an operating partner; and named Rohit Bhagat as a senior advisor. This publication has asked B Capital for confirmation and further details; it had not been able to reach the firm at the time of going to press. 

The firm was created two years ago by Saverin, who is now based in Singapore, and Raj Ganguly, who is based in the US West Coast. It also has a strategic partnership with Boston Consulting Group. It has offices around the world, such as in Singapore, San Francisco and Los Angeles.