With $3B funding round, Bain set to make more biotech bets

With a strong track record for identifying diamonds in the rough, Bain Capital Life Sciences (BCLS) has become a powerful force in biotech investing, pulling in more funding for each of its big-money rounds.

On Tuesday, eight-year-old BCLS revealed that it has raised $3 billion in commitments for its fourth funding round, with $2.5 billion coming from new and current investors and $500 million from its partners and affiliates.