Bain Capital Ventures closed Fund XI at $1.6 billion, above target, to back early-stage AI, infrastructure, security and related technology. The fund is described as 14% larger than Bain’s $1.4 billion predecessor, and Bain said more than 82% of the capital deployed from its previous fund went into pre-seed, seed, Series A or Series B investments. Bain Capital Ventures said it plans to invest in roughly 30 to 40 companies, primarily at the seed through Series B stages, while positioning the broader Bain Capital platform to provide additional resources beyond venture equity. Its portfolio includes infrastructure companies such as Crusoe and Poolside, applied AI companies including Cognition, Decagon and Legora, and physical AI startups Atoms and Sunday Robotics; it also lists AI services investments including Crosby Legal and Norm. Co-managing partner Enrique Salem framed the strategy around AI’s transformation and the firm’s decade-long approach, saying, “AI will transform our world in ways we’ve only begun to experience and we’ve been investing against that idea for the past decade.” Fund XI will concentrate on AI infrastructure, AI applications, physical AI, science, cybersecurity and AI-enabled services, and is positioned as part of Bain Capital’s broader $225 billion investment platform. Partner Kevin Zhang said the firm defines artificial general intelligence as agents performing many tasks as well as humans, and described a goal to fund compute infrastructure until intelligence becomes “too cheap to meter.” TechCr