TLDR:
– Bain Capital Tech Fund Partner, Darren Abrahamson, is steering clear of AI startups and focusing on later-stage companies in application software, infrastructure and cybersecurity, fintech and payments, and healthcare IT.
– The fund has a portfolio that includes companies like Blackpoint Cyber, Athenahealth, and Hudl with a focus on leveraging generative AI tools for productivity gains.
A Bain Capital tech investment fund may be one of the few that isn’t looking to back the next cutting-edge generative AI startup. Bain Capital Tech Opportunities partner Darren Abrahamson said that the fund focuses on established businesses rather than early-stage ventures. The fund’s portfolio includes companies such as security firm Blackpoint Cyber, healthcare company Athenahealth, and sports video analysis firm Hudl. The fund’s approach is to provide support and capital to these businesses to help them grow to the next level.
The fund also aims to leverage generative AI tools to enhance productivity in its portfolio companies. However, Abrahamson mentioned that the fund is not currently seeking to invest in “the next model or pure AI company” as they feel it is too early and speculative for their focus. Instead, the fund is focused on partnering with founders worldwide who have reached a certain scale and are looking for support to grow their businesses.
