Battery Ventures Closes $750M Fund
Battery Ventures, which has offices in Waltham, MA, Menlo Park, CA, and Herzeliya, Israel, said today that it has closed its latest fund at the targeted level of $750 million. The firm says it plans to invest the fund—its ninth—in Internet, digital media, financial and information services, cleantech, software, enterprise IT, semiconductors, and industrial technologies. Managing partner Tom Crotty said in a statement that Battery could not have closed the ninth fund at the $750 million target (the same size as its eighth fund) without the “strong support” of existing limited partners, who make up 85 percent of the fund’s investors. Battery’s Boston-area portfolio companies include ITA Software, Pursway, and Viridity; the firm was also an investor in Akamai (NASDAQ: AKAM), which went public in 1999.