Bain & Company, a global management consulting firm, has announced its intention to acquire the Asia Pacific arm of Rainmaking, a renowned venture-building and start-up development studio. The acquisition aims to bolster Bain’s business-building offering, Next℠, and enhance its capabilities in innovation and design (I&D) across the region. With the deal set to close at the end of July 2023, Bain seeks to leverage Rainmaking APAC’s entrepreneurial talent and expertise to help companies innovate, launch, and scale new businesses in Asia Pacific.
Bain’s acquisition of Rainmaking APAC is contingent upon several conditions precedent to completion. Upon closing, Rainmaking APAC’s operations, consisting of 50 entrepreneurial talents across Singapore, Japan, and South Korea, will be integrated into Bain’s Next℠ offering. Next℠ is a comprehensive business-building platform that brings together over 200 entrepreneurs, strategists, designers, data scientists, and engineers in the Asia Pacific region.
Bain’s Asia Pacific regional managing partner, Satish Shankar, highlighted the region’s position as a thriving innovation hub, particularly Singapore, which attracts talent and multinational companies for new business ventures. The acquisition of Rainmaking APAC represents a strategic move to scale Bain’s I&D capabilities and deliver market-leading results to clients seeking innovative growth opportunities.
Both Bain and Rainmaking APAC have participated in prominent initiatives that support entrepreneurship and innovation. They were appointed to the Corporate Venture Launchpad 2.0 program, a SGD 20 million initiative by the Singapore Economic Development Board. Additionally, Rainmaking is a partner of Enterprise Singapore’s Global Innovation Alliance, facilitating market access for Singapore-based start-ups and tech SMEs.
Florian Hoppe, Asia Pacific leader in Vector℠, Bain’s digital delivery platform, emphasized the need for companies to innovate in the face of emerging technologies and disruptions. By joining forces with Rainmaking APAC, Bain aims to assist clients in validating, building, and scaling new businesses, leveraging Rainmaking’s expertise in venture-building.
Rainmaking APAC’s CEO, Samuel Hall, expressed excitement about the growth opportunities presented by the partnership with Bain. As one of the leading venture studios in Asia Pacific, Rainmaking APAC has built ventures across various industries, including agriculture, energy, engineering, real estate, retail, and financial services. With Bain as their backer, Rainmaking APAC anticipates launching more studios and ventures, forging deeper partnerships with corporations and industry leaders, and driving greater opportunities for its ecosystem.
Upon completion of the acquisition, Rainmaking APAC will maintain its brand and operating structure, continuing to work with partners independently as a branded service line within Bain’s I&D ecosystem. Bain’s expanded capabilities and resources will enable Rainmaking APAC to further strengthen its corporate connectivity and investment capability, enhancing its ability to build and scale new ventures.
As companies face increasing pressure to innovate and adapt, Bain’s acquisition of Rainmaking APAC solidifies its commitment to providing comprehensive solutions for clients in the Asia Pacific region. With the integration of Rainmaking APAC’s entrepreneurial talent, Bain is poised to empower businesses to navigate disruptions, leverage emerging technologies, and thrive in the dynamic landscape of the region’s innovation ecosystem.
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