Bain Capital Ventures has held the final close of its eleventh fund at $1.6bn, exceeding target. In its predecessor, Fund X, raised in 2023, over 82% of capital went into pre-seed, seed, Series A, or Series B rounds, and Fund XI is set to continue that approach. The firm frames the raise as a bet it has been building towards for a decade, targeting AI infrastructure, applied and physical AI, science, security, and AI-enabled services. "AI will transform our world in ways we’ve only begun to experience and we’ve been investing against that idea for the past decade, starting with early investments in Crusoe and Moveworks," said Enrique Salem, co-managing partner of Bain Capital Ventures.

The new vehicle reflects a strategic pivot toward the burgeoning AI sector, maintaining the firm's focus on early-stage momentum. By continuing to prioritize nascent stages of company building, Bain Capital Ventures positions itself alongside other prominent backers of the AI revolution. The closure underscores sustained investor confidence in artificial intelligence's potential to reshape industries globally, from infrastructure to specialized services.