Bain Capital LP aims to raise $1 billion for a new technology-focused fund that will target takeovers and late-stage minority investments, CNBC reported, citing people with knowledge of the matter.
The fund, dubbed Bain Capital Tech Opportunities, will invest mainly in software and cybersecurity companies, targeting equity investments of up to $200 million, the unnamed sources told the news outlet.
The vehicle, which will also target smaller companies, will be co-managed by Bain Capital Private Equity LP Managing Director Darren Abrahamson and Bain Capital Public Equity Managing Director Dewey Awad.
Bain Capital Tech Opportunities will add about 15 people externally and internally, the sources added.
A Bain spokesperson declined to comment, according to CNBC.