· Investment Strategies · 2 sources · Updated · Verified
Bain Capital Ventures Closes $1.6B Fund XI — Not Bain Capital’s $225B AUM
Bain Capital Ventures said on September 16, 2026 that Fund XI is $1.6 billion of total capital for early- and growth-stage technology. Bloomberg put the predecessor at $1.4 billion. Bain Capital’s about $225 billion AUM is the parent platform, not this vehicle.
By Venture Capital Tracker Editorial
Bain Capital Ventures said on September 16, 2026 that it has raised $1.6 billion of total capital for Fund XI, to make early- and growth-stage investments in technology companies. The number that will get copied wrong is about $225 billion — that is Bain Capital parent AUM, not this vehicle. Bloomberg put the predecessor at $1.4 billion and said Fund XI is slightly larger; BCV’s own post did not name the prior size. LP names were not disclosed. Last verified September 17, 2026. Sources: BCV, Bloomberg.
A $1.6 billion multi-stage venture close is real dry powder. It is not a $225 billion “Bain” headline and it is not a16z Growth’s $8.5 billion scaling book.
Five-minute decision
| If you need… | Verdict |
|---|---|
| What happened | Fund closed. Fund XI $1.6B total capital. Sep 16, 2026. |
| Mandate | Early- and growth-stage “outlier technology businesses” (BCV). Bloomberg: infrastructure, physical world, security, services. |
| $225B | Parent AUM (BCV). Not Fund XI. |
| Prior fund | $1.4B is Bloomberg, not the BCV post. |
| LPs / first vs final | Not disclosed. |
| Directory | Yes — /fund/bain-capital-ventures. |
Investigate further when: you want a Bain-platform multi-stage check next to names we already cover (Redis lineage, Etched, Rillet).
Wait or pass when: you add Fund XI to Bain Capital PE AUM, or treat $1.6B as a first close of a larger target the firm did not state.
What closed
| Field | Detail |
|---|---|
| Firm | Bain Capital Ventures — NYC, 590 Madison. Site: baincapitalventures.com. |
| Vehicle | Fund XI · $1.6B total capital · Sep 16, 2026 |
| Parent | Bain Capital ~$225B AUM (BCV post). Firm origin story: $37M in 1984. |
| Predecessor | $1.4B (Bloomberg). Not restated by BCV. |
| Thesis language | Post-AGI / “duty to the future” essay. Deployment still early + growth tech. |
| LPs | None named. No Form D cited here. |
Bloomberg’s sector list — infrastructure, physical world, security, services, including customer-support or IT work — is reporter paraphrase of where the firm will look. It is not a published exclusion list.
BCV $1.6B vs Swish $250M vs a16z Growth $8.5B
| BCV XI | Swish III | a16z Growth | |
|---|---|---|---|
| Date | Sep 16, 2026 | Sep 3, 2026 | Aug 31, 2026 |
| Amount | $1.6B new vehicle | $250M new vehicle | $8.5B existing Growth total |
| Job | Multi-stage venture | Concentrated Seed / A | Scale already-winning companies |
| Directory | Yes | No | Yes |
Do not add them. They answer different founder questions. Cherubic VI is a $68.88 million solo-GP book — smaller still.
Named BCV overlap already on this site includes Etched and Rillet. This close is not a new round for those companies.
What remains undisclosed
No LP letter. No first-versus-final split. No check-size grid. No BCV-only AUM besides this $1.6 billion print. Predecessor $1.4 billion is Bloomberg. “Post-AGI” is editorial framing in the essay, not a portfolio rule you can diligence from the post.
Related: BCV fund page · September 16–17 index · a16z Growth $8.5B.
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.
