BAIN & Company is acquiring the Asia-Pacific (Apac) arm of venture-building studio Rainmaking for an undisclosed amount.

The proposed acquisition, announced on Friday (Jul 7), is part of Bain’s efforts to ramp up venture-building.

Rainmaking Apac will join Bain’s innovation and design unit, which includes the consulting firm’s venture studio, Next, launched in April 2022.

“Our deal thesis is very much 1+1=3,” said Florian Hoppe, Apac leader of Vector, Bain’s digital delivery platform that houses the innovation and design unit.

Venture studios have been gaining popularity in recent years, as more companies turn to them for help with expansion and maintaining relevance.

Both firms continue to record significant growth in demand, added Samuel Hall, chief executive of Rainmaking Apac.

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Rainmaking Apac – with its team of 50 across markets in Singapore, Japan and South Korea – will operate independently under its existing brand. Current clients will not be affected.

Hoppe expects to grow the team in the coming years, noting that there will be no redundancies from the acquisition.

Bain’s Next and Rainmaking Apac are both part of the Singapore Economic Development Board’s corporate venture programme, which partners large companies to identify and spin off new businesses in high-growth areas.

The acquisition, subject to conditions that Bain and Rainmaking declined to disclose, is expected to close at the end of this month.