Battery Ventures closes Two funds totaling $950 million

battery ventures

Battery Ventures has closed two new funds: Battery Ventures XI, a $650 million vehicle, and Battery Ventures XI Side Fund, a $300 million fund intended to support larger investments. Battery raised predecessor fund family Battery X and Battery X Side Fund, totaling $900 million, in February 2013.

As with its predecessor funds, Battery will continue to target investments at stages ranging from seed to private equity, deploying capital in increments of a few hundred thousand dollars up to deals worth $100 million for large growth and private-equity opportunities. In 2015, Battery opened a new office in San Francisco – adding to its presences in Boston, Menlo Park, CA and Herzliya, Israel – and will continue to make investments globally, with the majority of deals in North America, Israel and Europe.

Key investment sectors for the firm include application software/SaaS; IT infrastructure, including areas such as cloud computing, “big-data” technology and cybersecurity; consumer Internet and mobile; and industrial technology.

Battery Ventures investments in Israeli startups in 2016 include as part of the $50 million financing rounds of DevOps developer JFrog, date recovery company Zerto and big data company SiSense, and the $35 million financing round of flash storage startup Elastifile.

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