Bain Capital Ventures Raises Record $1.9B Across Two Funds to Support Tech Startups

Multi-stage investor Bain Capital Ventures (BCV), the venture arm of Bain Capital, raised a record $1.9 billion across two oversubscribed funds to support technology startups from seed to growth. 

The amount is an impressive 46% increase from its previous funds that closed in May 2021 at $1.3 billion. The new funds are in addition to the Bain Capital Crypto fund which was announced in April 2022 with $500 million under management, and the $2.4 billion Tech Opportunities fund announced earlier this month. 

With BCV’s total funds under management now at $12 billion, the firm has backed more than 80 seed funds to date. 

“Our deep experience in fintech, commerce, SaaS and infrastructure also proves valuable when diving into climate, crypto and consumer opportunities,” noted Kevin Zhang, Partner, on the firm’s website. 

The size of the latest fundraise is noteworthy in an industry that tightened its strings in 2022. Venture capital investments declined to nine-year lows in the fourth quarter of last year as VCs showed more wariness given the softening economic backdrop. 

Separately, over the last year, San Francisco-based BCV has added partners Christina Melas-Kyriazi, formerly head of product for Affirm, Slater Stich, formerly founder of Activation Fund and a data scientist for Square, and Saanya Ojha, formerly a partner at Coatue and investor at Goldman Sachs.