Early-Stage Fund Targets AI Infrastructure, Physical AI, Security, Services

SAN FRANCISCO: Bain Capital Ventures (BCV) today announced the close of Bain Capital Ventures Fund XI (“Fund XI”) exceeding its target, raising $1.6 billion in total capital. Bain Capital partners, employees and their related entities are among the single largest investors in the fund, alongside pensions, endowments and foundations, consistent with Bain Capital’s heritage across all its funds.

BCV's early-stage strategy has consistently concentrated capital at the formation stage of category-defining companies. In Fund X, raised in 2023, over 82 percent of total dollars were allocated to Pre-Seed, Seed, Series A or Series B rounds. BCV has backed companies across infrastructure (Crusoe, Poolside), applied AI (Cognition, Decagon, Legora), physical AI (Atoms, Sunday Robotics), health (Loyal, Forus), security (Adaptive Security, Dream) and AI services (Crosby Legal, Norm).1 Fund XI extends this playbook, continuing BCV's longstanding history of early-stage investing and its work helping AI-native founders aim to realize the full potential of what they're building.

“AI will transform our world in ways we’ve only begun to experience and we’ve been investing against that idea for the past decade, starting with early investments in Crusoe and Moveworks,” said Enrique Salem, Co-Managing Partner of Bain Capital Ventures. “We continue to focus our entire team on finding and actively supporting the most ambitious founders with our deep connectivity to the real economy, scaled approach to capital and a differentiated platform services offering.”

Bain Capital has maintained leadership across technology investing for over 41 years, and with BCV’s founding in 2001, the firm became one of the only large alternative asset firms to launch and build an early-stage technology venture practice. BCV’s portfolio companies benefit from the expertise and relationships of Bain Capital’s broad, global portfolio and 2,000+ internal experts.

AI-native companies’ scale and ambition increasingly demands more than venture capital alone. We believe BCV is ideally positioned for this transition: as part of a $225 billion global platform spanning private equity, credit, real assets and growth equity, BCV can support founders not just with equity capital, but with the debt facilities, infrastructure partnerships and real economy relationships that AI-scale ambitions require. This full-stack approach is matched by a hands-on operating philosophy of working alongside founders to develop the detailed, ground-level understanding of the industries they aim to transform. Fund XI extends this playbook across AI infrastructure, applications, physical AI, science, security and services, continuing the firm's track record of partnering with the most ambitious entrepreneurs from formation through long-term value creation.

About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 2,000 employees, and approximately $225 billion in assets under management.

Disclosures

1These are selected transactions shown for illustrative purposes only. Bain Capital Ventures investments may differ materially from those discussed here. These investments are not necessarily indicative of any investments that Bain Capital Ventures will or could make in the future. The companies identified above do not represent all of the investments made by Bain Capital Ventures, and it should not be assumed that the investments identified were or will be profitable.

Fonte: Business Wire