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"Bain Capital raises $475m for latest fund" by Beth Healy, Globe Staff | February 12, 2009
Despite the gloom gripping the markets, Bain Capital has raised $475 million for a new venture capital fund....
Bain is perhaps best known for its multibillion-dollar private equity deals. The Boston firm manages about $70 billion total, including a hedge fund and a debt fund that it runs. It took about two-and-a-half months for the firm to raise the money....
Venture capitalists and people who invest with them say only the funds with the best returns will be able to raise money in this depressed economic environment. Many of the firm's investing clients - endowments, family offices, and pension funds - have suffered major losses in the stock market, leaving them with larger relative positions in venture and private equity than they intended. It can take five to seven years, or longer, to get money back on venture investments.
If at all.
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Moreover, investors in the firm's last venture fund, launched in 2007, have yet to see any returns....
The new fund could grow to $550 million, as some additional investors are still expected to participate.
And just WHERE is ALL THIS MONEY COMING FROM?
Meanwhile, you are out here sucking s***, Amurka!
