Battery Ventures, a global, technology-focused investment firm, has closed new funds totalling $3.8 billion to continue backing innovative companies worldwide in a variety of sectors.
The new funds—raised as Battery approaches 40 years of continuous operations—include Battery Ventures XIV and a companion fund, together capitalised at $3.3 billion, and the $530 million Battery Ventures Select Fund II, a vehicle intended to make additional investments primarily in portfolio companies of the firm’s other funds.
Battery will use the new capital to continue investing in companies at all stages, from seed and early-stage venture to buyout, in areas such as business software, including fin-tech and healthcare-IT; infrastructure software, including data/AI, developer tools and cybersecurity; consumer technology; and industrial technology and life-science tools. The firm pursues a collaborative, research-driven style of investing and operates as one global team from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv.
In conjunction with the new funds, Zack Smotherman has been promoted to general partner. He will continue to grow the firm’s efforts investing in the industrial-technology and life-science tools market.
In addition, Battery’s Shiran Shalev, based in Tel Aviv, was promoted to partner. Shalev joined Battery in 2013 and focuses on venture- and growth-stage investments in financial technology and business software.
Battery also recently hired veteran technology-sales executive Bill Binch as an operating partner and promoted several professionals in its growing portfolio-services and operations group. These include Karen Bommart, now investor-relations partner; Rebecca Buckman, marketing partner; Scott Goering, business-development partner; and Jenny Kang and Susanne Richman, now both talent partners. Additionally, Max Schireson—the former CEO of MongoDB who has been serving as a Battery executive-in-residence since 2015—was named operating partner.
Battery closed its thirteenth family of funds totaling $2 billion in February 2020 and announced Battery Ventures Select Fund I, capitalised at $400 million, a year later.
