Bain Capital Ventures raised $850 million for its two latest funds. The company started to raise the funding around two months ago, according to TechCrunch.
Bain Capital started fundraising for its $650 million BCV 2014 investment vehicle and $200 million co-investment fund on April 2nd. The core venture fund saw an 8% increase from the previous $600 million fund that was raised in 2012. Both funds were two times oversubscribed.
Bain Capital Ventures now has $3 billion under management. Bain Capital Ventures is the venture arm of Bain Capital, which was founded by former Massachusetts governor and Republic presidential candidate Mitt Romney in 1984.
Bain Capital Ventures will invest in technology companies that focuses on open source development, compliance, cloud computing, and security. The investments will range at under $1 million to $50 million.