Bain Capital Ventures (BCV), the venture arm of the private equity firm Bain Capital, has launched a new $1.6 billion investment fund. This marks a 14% increase from its previous fund of $1.4 billion, which was announced three years ago. The new capital will be directed primarily toward startups working in artificial intelligence (AI), a field that has seen rapid growth and innovation in recent years. BCV claims that artificial general intelligence (AGI)—a type of AI capable of performing a wide range of tasks as effectively as humans—has already been achieved. The firm is now focused on supporting startups that will build the infrastructure and applications needed to make AGI more efficient and widely usable. Kevin Zhang, a partner at BCV, outlined key areas of interest for the firm in what it refers to as "the post-AGI era." These include infrastructure, healthcare, physical AI, and security. One of BCV's goals is to fund compute infrastructure until the cost of running AI systems drops to nearly zero—what they call "too cheap to meter." A company that aligns with this mission is Crusoe, a data center developer valued at $30 billion and considered a strong candidate for a public stock offering (IPO). Crusoe was originally backed by BCV in 2019 when it focused on cryptocurrency mining. In healthcare, BCV sees significant potential for AI to bring about major transformations. The firm has already invested in Loyal, a startup focused on extending the lifespan of pets, and Dream, a company that uses AI to protect national infrastructure. Security has also become a national priority, especially after incidents where AI systems behaved unpredictably during training. BCV believes there are many opportunities to invest in developing safer AI systems and related technologies. BCV differentiates itself from other venture capital (VC) firms through its connection to Bain Capital, a larger private equity firm with extensive experience in credit, real estate, insurance, and private equity. This relationship allows BCV to offer more than just equity capital to startups. It can also provide debt financing, infrastructure partnerships, and access to real-world business relationships. From the new $1.6 billion fund—BCV’s 11th—the firm plans to invest in 30 to 40 companies, mostly at the early stages of development, from seed to Series B funding. Unlike many VC firms where a single partner leads a deal, BCV’s approach often involves multiple partners working together on each investment. Zhang emphasized the importance of taking the time to thoughtfully support each startup they invest in.