Bain Capital Ventures Raises $1.6B Fund for Post-AGI AI Startups

The fund's framing around a post-AGI world is notable: it treats general intelligence as an eventual given rather than a speculative bet, and allocates toward infrastructure, the physical world, and security — the layers that would matter regardless of how model capabilities evolve. That is a bet on durability of demand rather than on any single model or application. The open question is whether this thesis-driven raise, amid high costs and cybersecurity incidents, signals sustained LP appetite for AI's picks-and-shovels layer or simply a concentration of capital into one narrative.