Bain closes new venture fund on $250m

Bain Capital Ventures’ second fund follows its 2001 same-sized vehicle, which is close to being fully invested.

Boston-based Bain Capital Ventures, the venture arm of buyout giant Bain Capital, has wrapped up fundraising for its second fund on $250 million (€196 million).

The new partnership is the same size as Bain Capital Ventures’ previous fund that closed back in 2001. According to a VentureWire news report, almost all of the previous fund’s investors returned for the new fund. Fund I counted endowments and foundations such as Columbia, Princeton and Yale universities, as well as fund of funds manager Auda Advisor Associates and the State Teachers' Retirement System of Ohio among its LPs.

Bain Capital Ventures invests in deals at all levels of growth in four industries: IT, business services, consumer products and services, and health care services and technology. To help manage the new fund, Bain Capital Ventures reportedly plans to announce additions to its 11-member team in the near future. Managing directors Michael Krupka, James Nahirny and Jeffrey Schwartz lead the current team.

According to VentureWire, Bain Capital Ventures has invested the 2001 fund in 23 portfolio companies and has room for one or two more deals before the fund is fully invested.

Bain Capital did not issue any official press statement, but a source close to the firm confirmed the news report.

Earlier this year, Bain Capital raised its $4.25 billion eighth buyout fund. The firm is also reportedly in the process of finishing up its second European buyout fund, targeted at €1 billion ($1.2 billion).

Most recently, Bain Capital made headlines when it agreed to purchase a minority stake alongside fellow Boston private equity firm Thomas H. Lee Partners in Los Angeles-based talent-management agency The Firm.