Bain Capital Ventures (BCV), the venture division of private equity firm Bain Capital, has raised a new, $1.6 billion fund, which is 14% larger than its previous $1.4 billion fund the firm announced three years ago.
Like many other venture investors, BCV says it will use the fresh funds to back startups primarily focused on AI. The firm believes artificial general intelligence (AGI), which it defines as agents performing many tasks as well as humans can, has already arrived, and the next wave of startups will not only harness its power, but also build the infrastructure needed to make it run efficiently.
