Bain Capital's venture capital division, Bain Capital Ventures, received capital commitments worth $1.9B for its two new funds.
The funds will invest in fintech, infrastructure, application software, and commerce technology startups.
- $1.4B of the capital is earmarked for seed to growth-stage investments, with the remaining $493M for late-stage opportunities.
- The funds are the firm's largest venture funds to date, surpassing the previous $1.3B funds launched in 2021 to invest in early-stage startups.
- The latest funds will invest in conjunction with the $500M crypto fund announced in April 2022.
- With the close of the latest funds, the firm now has over $12B in AUM.
- The firm invested between $20M and $30M from its previous funds into emerging seed-stage funds.
- BCV also announced Noah Breslow, the former CEO of OnDeck, as a partner.
- Breslow will work alongside Leslie Crowe and Allison Braley.
- In mid-February, Bain Capital closed a $2.4B Tech Opportunities fund for mid-market buyouts.
