Bain Capital Ventures raises $1.3bn for a pair of funds

The firm raised $950m for seed and Series deals and a $350m co-investment fund for larger growth opportunities.

San Francisco-based Bain Capital Ventures announced today it has raised $1.3 billion combined for two new funds. The committed capital includes the firm’s ninth core fund, totaling $950 million and targeted at early-stage startups, and $350 million for its second co-investment fund to back larger growth opportunities.

In the last year, the firm has made 37 new seed and Series A investments, representing 88 percent of all new investments.

In late 2018, the firm raised $650 million for its flagship vehicle and $250 million for its growth opportunity fund.

The firm said with the latest fundraise, it now has 11 investing partners in San Francisco, New York and Boston. Recent milestones include ACV Auctions (NASDAQ: ACVA), Armis (acquired by McAfee), Billtrust (NASDAQ:BILL), DocuSign (NASDAQ: DOCU), Gainsight (acquired by Vista), Rapid7 (NASDAQ:RPD), Signify Health (NYSE:SGFY), SendGrid (NYSE:SEND; subsequently acquired by Twilio) and Wrike (acquired by Citrix).

Source: Bain Capital Ventures