Bain Capital Ventures
Venture capital division of Bain Capital investing from seed through growth in applied AI, infrastructure, health, physical AI and security. It announced a 1.6 billion dollar eleventh fund in September 2026.
Industry: Venture capital | Location: United States | Founded: 2001
About Bain Capital Ventures
Bain Capital Ventures, known as BCV, is the venture capital division of the investment firm Bain Capital. It invests at seed, early and growth stages and says it also supports companies preparing for an IPO or acquisition. Its stated focus areas are applied AI, infrastructure, health, physical AI and security. Wikipedia lists offices in New York, San Francisco and Palo Alto, and BCV's team page places its partners in Boston, New York and the San Francisco Bay Area.
BCV's first fund, Bain Capital Venture Fund I, has a 2001 vintage according to Wikipedia, and the firm says it has been investing for more than 20 years. On its own pages BCV reports 423 investments and 89 graduations, and describes a platform team called The Hive that offers support with talent, marketing and customer development. Bain Capital, its parent, says it has 180 billion dollars under management across 13 divisions and more than 700 professionals on four continents. The team page lists partners including Ajay Agarwal, Enrique Salem, Scott Friend, Matt Harris, Aaref Hilaly, Merritt Hummer, Kevin Zhang, Rak Garg and Christina Melas-Kyriazi.
Companies named on BCV's site include MaintainX, which Autodesk agreed to buy for 3.6 billion dollars, and Moveworks, which ServiceNow agreed to acquire. TechCrunch reported in September 2026 that BCV led the 2019 Series A of Crusoe, a data centre developer. Wikipedia lists DocuSign, LinkedIn and Flywire among its public-market exits.
In the Middle East, BCV took part in the 67.5 million dollar Series B of the Riyadh-based open banking company Lean Technologies, led by General Catalyst, in November 2024. Lean's announcement named no BCV partner and gave no amount for BCV's share.
On fundraising, Private Equity International reported on 28 February 2023 that Fund X and Select Fund IV together raised 1.9 billion dollars, with Fund X at about 1.4 billion. In September 2026 BCV announced a 1.6 billion dollar eleventh fund, about 14 percent larger than its predecessor, which TechCrunch said it plans to deploy across 30 to 40 companies, mainly from seed to Series B.
Leadership
- Ajay Agarwal, Partner
- Enrique Salem, Partner
- Scott Friend, Partner
- Matt Harris, Partner
- Aaref Hilaly, Partner
- Merritt Hummer, Partner
- Kevin Zhang, Partner
- Rak Garg, Partner