Bain Capital Ventures raises a $1.6B AI fund

Bain Capital Ventures launched a $1.6 billion Fund XI for early- and growth-stage technology companies, naming AI infrastructure, healthcare, physical AI, and security among its target areas in its fund announcement. TechCrunch reports the firm expects to deploy the money across 30–40 seed-to-Series B companies in its account of the new fund, a concentration that makes this more than another AI-fund headline. Builders can read it as fresh competition for scarce AI infrastructure and security deals, alongside Alibaba’s recent AI-capex financing test.