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Bain Capital Ventures raises $1.9bn for two tech-focused funds

Wednesday, March 01, 2023
Opalesque Industry Update - Bain Capital Ventures (BCV), the venture arm of the namesake private equity giant, is debuting $1.9 billion in two new funds to invest in startups from seed to growth rounds within fintech, infrastructure, apps, and commerce.

San Francisco-based multi-stage VC firm - known for its investments in companies such as LinkedIn, DocuSign, and Twilio - said in a media release that these new funds are in addition to the Bain Capital Crypto fund which was announced in April 2022 with $500 million under management.

Over the last year, BCV has strengthened its investment team, adding partners Christina Melas-Kyriazi, formerly head of product for Affirm, Sarah Hinkfuss, formerly an investor at KKR and SVP at APT which was acquired by MasterCard, 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, it revealed.

"Entrepreneurs want to build alongside investors who've done so successfully, and our team of operators, builders, and experienced investors delivers on that promise," said Enrique Salem, partner at Bain Capital Ventures. "At BCV, we put in the work every day to understand our domains, have company-specific context and operating experience that the best founders expect from their partners."

"BCV's multi-stage orientation allows us to identify emerging trends and meet promising founders at the earliest stages, then build conviction in them over time as we follow their trajectories," said Merritt Hummer, partner at Bain Capital Ventures. "Our early-stage exposure is a tremendous asset for identifying winners at the growth stage."

"Our Bain Capital colleagues are some of the most thoughtful investors in insurance, healthcare services, real estate, and beyond, and those strengths intersect with the types of transformative companies we back," said Kevin Zhang, partner at Bain Capital Ventures. "Founders, especially at the earliest stages, value the expertise and relationships the full firm convenes on their behalf, whether that's advising on underwriting risk, logistics or business models."

This news follows the appointment of BCV partner Noah Breslow, who has built a team of 23 former operators dedicated to helping startups mature more quickly with experienced guidance.

Breslow, the former CEO of OnDeck, is based in BCV's New York office. Along with BCV partners Leslie Crowe, former Chief People Officer of TripActions, and Allison Braley, former Operating Partner at Playground Global, the platform team will ensure that BCV continues to provide tangible benefit and hands-on support for its portfolio, said the company.

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