Bain & Company Acquires Startup Development Studio Rainmaking APAC

Bain & Company, a prominent global management consulting firm, has revealed its plans to acquire the Asia-Pacific division of Rainmaking, a renowned venture-building and startup development studio.

The acquisition will support businesses throughout the region in enhancing their innovation capabilities and successfully launching and expanding new ventures. The specific terms and details of the deal have yet to be disclosed, and the transaction is expected to be finalized by the end of July 2023, pending the fulfillment of certain conditions.

“The region, especially Singapore, is a thriving innovation hub that continues to attract talent and multinational companies to establish new businesses,” stated Satish Shankar, Bain’s Asia Pacific regional managing partner, in a release.

Founded in 2017, Rainmaking APAC is a startup development company dedicated to helping businesses launch, build, and scale in their industries.

Rainmaking APAC’s portfolio centers around co-founding startups in collaboration with corporate partners and entrepreneurial founders. It also focuses on fueling the growth of Series A+ startups, supporting them in scaling their operations and expanding into new markets.

The company maintains dedicated offices in Singapore, South Korea, and Japan while also operating in Malaysia, the Philippines, Thailand, and Australia.

As part of the acquisition, Bain & Company aims to strengthen its business-building services known as NextSM, which were introduced in 2022 to support founders in navigating the journey from initial seed funding to achieving scalable growth.

Rainmaking APAC, comprising a team of 50 talented individuals based in Singapore, Japan, and South Korea, will retain its brand identity and operate autonomously within Bain’s existing ecosystem.

This initiative, delivered by a diverse group of over 200 professionals encompassing entrepreneurs, strategists, designers, data scientists, and engineers in the Asia-Pacific region, aims to provide comprehensive support to foster the growth and success of innovative ventures.

Both Bain and Rainmaking APAC were selected to participate in the Corporate Venture Launchpad 2.0 program, a SGD 20 million initiative introduced by the Singapore Economic Development Board. Additionally, Rainmaking is a partner of Enterprise Singapore’s Global Innovation Alliance, facilitating access to market opportunities in international regions for startups and technology-driven small and medium-sized enterprises (SMEs) based in Singapore.

Florian Hoppe, the Asia Pacific leader in VectorSM, Bain’s digital delivery platform, shared the vision of becoming the leading venture-building studio in the Asia Pacific region. By joining forces with Rainmaking APAC, Bain aims to assist clients in validating, building, and scaling new businesses, particularly during this era of necessary innovation driven by emerging technologies and disruptions.

Samuel Hall, CEO of Rainmaking APAC, highlighted the studio’s position as one of the leading venture studios in the Asia Pacific region. With expertise spanning the entire startup lifecycle, Rainmaking APAC takes pride in its ability to build new companies and help growth-stage enterprises achieve scalability. The studio’s entrepreneurial culture and innovative approach to equity co-investment and risk-sharing with corporate partners have set it apart in the market.