Bain Capital already back with second tech fund raise, eyes up to $1.5bn – report


Buyout giant Bain Capital is reportedly back in the market for its second fundraise dedicated to tech deals, eyeing up to $1.5bn.

The move, which was reported by the Wall Street Journal, comes just a year after Bain picked up $1.25bn for the final close of its debut fund in the strategy.

Bain has collected $60m for the fund from the New Mexico State Investment Council and committed $150m itself, the report said, citing the pension fund’s director of private equity David Lee.

The firm has been using its debut Tech Opportunities fund for buyouts and late-stage minority deals, focusing on investments of between $50m and $200m.

Earlier this week Bain Capital joined Hellman & Friedman in a $17bn buyout of healthcare software developer athenahealth from Veritas Capital.

Earlier this year Bain Capital was reported to have raised $11.8bn for its latest North American buyout fund.

The firm’s VC arm hit a $1.3bn final close for its ninth core fund targeting seed and Series A deals in April.

Copyright © 2021 AltAssets

Get the latest PE News & Research delivered to your inbox every morning