Bain Capital Ventures, the Boston-based venture arm of private investment firm Bain Capital, said on September 16 it raised US$1.6 billion for a new fund targeting early-stage startups focused on the next stage of AI, including infrastructure, security, services, and physical-world applications.

The fund is slightly larger than its predecessor at US$1.4 billion. Bain Capital Ventures plans to invest it over two to three years across 30 to 40 companies. The firm also raised US$1.9 billion across Fund X and Select IV in February 2023.

The launch comes as AI remains a driver of venture activity.

Bain Capital Ventures said it is also helping some capital-intensive AI startups seek financing beyond venture equity, including non-dilutive options better suited to heavy computing and infrastructure costs.

🔗 Source: Bloomberg