It’s always nice to have a lot of capital to invest, but managing a large new fund can be even more advantageous right now given that many later-stage companies that put off fundraising last year will likely be in the market come hell or high water in 2023. No doubt traditional venture firms like NEA, which just closed on $6.2 billion across two new funds, will be waiting for them. So will the buyout firm Bain Capital , which just closed its second growth Tech Opportunities fund with $2.4 billion, up from the $1.3 billion that the outfit put to work through the first vehicle of its type in 2019. The 30-person team used its debut fund to fund mid-market buyouts, make cross-platform investments and pursue “tactical opportunities” that could be bolted onto others of its investments. But late-stage venture-backed startups are among the “archetypes” that the group funds, and late-stage startups could prove especially attractive right now given there is less competition to support them at the moment. At least, according to Crunchbase data, late-stage and tech growth funding hovered around $40 billion in the fourth quarter of last year, down 64% year over year, from $110 billion […]
Bain Capital has closed its second Tech Opportunities fund with $2.4 billion
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