Bain Capital Ventures, the venture arm of Bain Capital, is coming off of a big year in 2012. It was one where Bain raised a $600 million fund, the firm opened an office in Silicon Valley and, we are learning Monday, also added a slew of new partners to its ranks.
Bain Capital recently added five new partners to its ranks, with four hires and one promotion, the Wall Street Journal reported Monday.
The firm hired four new partners that were hired in 2012 were Salil Deshpande, Todd MacLean, Matt Harris and Jack Sweeney. MacLean and Harris previously worked at Bain Capital Ventures.
- Deshpande is a former general partner with San Francisco-based Bay Partners
- Sweeney is the former chief executive of cloud software company Axeda and former CEO of five other companies.
- Harris, who was one of the co-founders of Village Ventures, rejoined Bain Capital Ventures to leading the firm's New York office, it says on his company bio. He will focus on business services companies, with a particular interest in financial services.
- MacLean, who is a former co-head of the growth capital unit of Accel Partners, will be focused on growth-stage investments in SaaS, financial technology and information-based businesses, his Bain bio says.
Deshpande and Sweeney do not have Bain company biographies at the moment.
In addition to the four new hires, Bain also promoted Ben Holzman to partner. Holzman joined Bain in 2007 and he co-leads the software practice, focusing on investments in software, technology and technology-enabled businesses.
On top of that, Bain also named Managing Director Ben Nye as the firm’s second co-managing partner to lead the firm alongside Mike Krupka. Nye leads Bain’s software and infrastructure group.
While Bain has added a slew of new people, it will soon be losing one of its original partners. Jeff Schwartz will be retiring at the end of 2013. Until then, he will continue to work with three or four portfolio companies through the end of the year, but will not be taking on any new board seats.
Until Schwartz leaves, Bain will have a total of 11 partners, a full one-third of its entire 33 person investment team.
Bain Capital Ventures has approximately $2 billion of assets under management worldwide. The firm has been investing in early stage companies dates back to 1984 with over 125 venture investments, including Staples, LinkedIn, Kiva, Shopping.com, Taleo Corporation, Liberty Dialysis, SolarWinds, DoubleClick, Lala Media, m-Qube, ProfitLogic, SurveyMonkey and MinuteClinic.
Bain manages approximately $67 billion of committed capital, has over 65 active portfolio companies, and has offices in Boston, New York, and Palo Alto.
Bain Capital Ventures could not be reached for comment.
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