Bain Capital Closes Two Funds at $1.3bn

Bain Capital Ventures has closed two new funds worth a combined $1.3bn that will mostly target early-stage investments, as it continues to pivot away from growth investments.

The fresh capital raised by private equity giant Bain Capital will back a $950m core fund for seed and Series A investments and a $350m co-investment fund for growth opportunities. The infusion lifts assets under management to $8.3bn.

The fund is backed by investors including endowments and pension funds, it’s worth noting that around $130m of that capital comes from investors and other employees inside of Bain, whose contributions typically make up 10% of a fund.

Source: Wall Street Journal