BCG caps image overhaul with new global logo, adds 100 new partners

06 December 2018 Consultancy.asia

Boston Consulting Group has unveiled a fresh global branding, marking the completion of a five-year identity revamp. 

The Boston Consulting Group is no more. Well, at least in respect to the article of its name, with the global strategy and management firm dropping the formal ‘The’ from its moniker and further dumping the serifs from a freshly designed logo – created to reflect both the firm’s inclusiveness and diversity and its increasingly diversified offerings in the modern digital landscape. “I’m feeling energised,” said BCG CEO Rich Lesser in response to the revamp.

Developed by Carbone Smolan Agency of New York as part of a five-year image upgrade, which included an overhaul of the BCG's digital experience, content engagement platforms and custom artwork library among other areas, the new logo features a wider font (to symbolise the firm’s bold approach) with connected lettering (inclusiveness), in a style more evocative of a modern tech-like enterprise than a traditional and elitist management consultancy.

“Five years ago we had very different visual language, which was very traditional and related to the management consulting we did in the past,” BCG’s global Marketing and Communications leader Massimo Portincaso told Consulting Magazine. “Strategically, it signals that it’s not just BCG the management consulting firm, it’s BCG and all the different components representing the 16,000 employees we have across 50 countries. We wanted the logo to represent that—to be more global, more modern, more connected and bolder.”BCG caps image overhaul with new global logo“To me, our new logo reflects our evolution as a firm and the bold approach we bring to our work,” added Lesser in a post featured on Linkedin. “It is a defining symbol of who we are and what we can do, as well as a powerful reminder of where we’ve been and where we’re going. It also embodies the transformative value we deliver through our work and ideas, as well as our continuing heritage of restless innovation.”

As to the dropping of the ‘The’: “We no longer need it to convey that we are a distinguished firm, and the simplification makes our name more consistent with the diversity of our people and the inclusive culture and values that have always been at the heart of BCG.” Overshadowed somewhat by the launch of the new logo, Lesser also made note of the more than 100 new partners and managing directors admitted to the BCG ranks following the firm’s recent global partner meeting in Barcelona.

According to Lesser, who was appointed as CEO in 2012, this brings the total number of partners and managing directors at the firm to more than 1,200. At the time of his appointment that number stood at around 850, and since then, Lesser has also overseen the launch of nine new offices together with BCG Gamma and BCG Digital Ventures, which now has a headcount of 4,000 plus. Further noted by the CEO: the firm has witnessed a five-year stretch of above 15 percent growth.

An analysis conducted by independent Australian corporate strategy and M&A consultant Eric Chin in 2016 pegged the number of Asia-based BCG partners listed on Linkedin at 185, a shade behind McKinsey’s regional representation of 187 and a long way ahead of Bain’s 117 stated partners. As a breakdown, India, Australia and Japan had the greatest number of BCG listed partners at the time, at above 30 in each jurisdiction, followed in order by Singapore, China, South Korea and Hong Kong.

Related: Boston Consulting Group rebrands to tech-y logo, drops 'The' (on US platform).

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Asia-based BCG-backed tech fund B Capital raises a further $400 million

09 April 2019 Consultancy.asia

The BCG-backed B Capital Group has raised over $400 million in the first close of its second fund. Based in Singapore, B Capital has now raised $766 million across two funds.

Established by Facebook co-founder Eduardo Saverin and ex-BCG Senior Advisor Jav Ganguly in 2016 – and backed by Boston Consulting Group from the outset – the Singapore-based venture capital firm B Capital has according to a US Securities and Exchange Commission (SEC) filing secured $406.1 million in commitments at the first close of its second fund – adding to $360 million raised last year for its first fund.

Launched toward the end of March, the second B Capital Fund has so far attracted 62 investors, and although a final close date or target hasn’t been disclosed, an unnamed source told Forbes that the VC firm is looking to double the size of its first fund. Meanwhile, B Capital has already built up a portfolio of 19 start-ups, with a focus on technology in the healthcare, financial services, industrial logistics and consumer enablement segments, and a particular eye to the Southeast Asia and India markets.

“We continue to strive to be a launch pad for entrepreneurs across a wide range of verticals and seek to provide our portfolio companies with the necessary resources and access to some of the most important business leaders,” said Saverin, who moved to Singapore in 2009. “We are committed to helping the next generation of entrepreneurs deliver transformative technology to the world and are strategically positioned to disrupt the realm of venture investing.”Asia-based BCG-backed tech fund B Capital raises a further $400 million Anchored by BCG, and partnering with BCG’s Digital Venture’s incubation arm, B Capital styles itself as a bridge between the innovative tech start-up realm and leading global corporate incumbents – bolstered by BCG’s deep client network (some 1,800 globally according to the consulting firm) and domain expertise in the investment fund’s areas of focus. Further, B Capital and BCG work together to uncover the most promising areas of investment.

“We partnered with the Boston Consulting Group because of their unique insights into the industries that we invest in and their unparalleled access to the world’s leading corporations,” said B Capital’s Ganguly, who in addition to spending the past six years with BCG served as a senior vice president at Bain Capital during the prior six. Earlier, Ganguly spent three years as a senior manager at MBB rival McKinsey & Company.

“It is inspiring to be backed by investors who recognise that our combined extensive experience as entrepreneurs and business creators provides a unique and valuable perspective as to how we support and provide capital to our portfolio companies,” adds Ganguly. “Our first-hand experience building and scaling enduring businesses has allowed us to bridge an important gap connecting entrepreneurs in need of resources to scale their businesses with corporations seeking to innovate and leverage emerging technologies.”

With B Capital said to be aiming to invest $20 million in each portfolio company, including reserves for future growth funding, Southeast Asian and Indian investments to date include Singapore short-term financing match-making platform Capital Match, ASEAN last-mile logistics provider Ninja Van, Carro – a Singapore-based vehicle sales and subscription service, and India’s Mswipe, a mobile point-of-sales solution.

“Whether it is funding availability, stage, talent, institutions, or exits, the presence of such whitespaces in the ecosystem makes it equally challenging and rewarding for investors,” Saverin and Ganguly wrote of the gaps in the Southeast Asian and Indian investment space in a founding post on LinkedIn. “We are very excited and bullish in the long run because we see the opportunity to bridge that gap and make a positive impact in a community of two billion people.”