Bain Capital has raised $800 million in recent capital to again companies that the agency bets will profit not solely fund buyers but in addition society at massive.
Bain Capital Double Influence, the Boston agency’s impression funding unit, has raised its second fund as funding automobiles targeted on producing environmental, social and governance advantages have confronted their share of promoting headwinds.
Lockdowns and journey restrictions imposed on account of the coronavirus pandemic have made fundraising more difficult as buyers carried out due diligence remotely. On the similar time, a new rule by the U.S. Labor Division made it considerably trickier for sure buyers to again impression funds.
World impression funds have attracted simply $14.6 billion throughout 52 managers to this point this 12 months by Nov. 20, nicely off tempo from the $76.2 billion raised throughout 92 such funds in 2019, in line with information supplier Preqin Ltd.
Whereas short-term stay-at-home orders slowed the agency’s fundraising, Todd Prepare dinner, managing companion of Bain Capital Double Influence, mentioned he believes investor curiosity within the technique stays robust.