The venture landscape may look a bit cloudy, but apparently, it’s clear skies from Bain Capital Ventures’ vantage point. The firm is now armed with two new funds, and their message? “We're leaning in. It's like, game on,” Enrique Salem, a partner at Bain Capital Ventures (BCV), told me last week.
The firm announced a record $1.9 billion across two new funds: Fund X (its 10th fund), which will invest across the cycle from seed to growth, split roughly 50/50, and its Select Fund IV, which will largely focus on helping the firm's portfolio companies scale. The funds were raised throughout the middle of 2022 and closed at the end of January this year, Salem told me (although they haven’t started deploying yet). The new funds are separate from BCV’s private equity parent Bain Capital’s new $2.4 billion buyout-style fund.
