Wednesday, December 10, 2008

Bain Capital Ventures aims for $500M fourth fund

By Mass High Tech staff

Boston-based Bain Capital Ventures has begun growing its fourth fund, with plans to raise $500 million and cap it at $750 million, according to online sources. The VC firm will close on the fun “early next year,” per PE Hub’s citation of VentureWire.

Bain Capital Ventures’ third fund from 2007 closed with $550 million.

Bain Capital Ventures, which was founded in 1984, is the venture capital arm of Bain Capital Partners LLC, whose affiliates manage more than $78 billion of assets with multiple funds. Bain Capital and its affiliates have invested in more than 230 companies such as New York-based Doubleclick Inc., Stamford, Conn.-based Gartner Inc. and Framingham-based Staples Inc.

Bain Capital Ventures currently operates with more than $1 billion under management and invests in health care, software, wireless, information-services, technology-driven business services, retail, Internet and consumer businesses.