Battery Ventures raises $750 million

Matt Bowman · March 11, 2010 · Short URL:

The multi-stage venture firm is looking to pump cash into tech companies at any stage.

 Waltham-based Battery Ventures has finalized $750 million in commitments for its ninth venture fund. The firm casts a wide net for deals—it’s stage-agnostic, global (with most of its money going to North America, Israel and India) and almost sector agnostic (within technology). The firm says it wants to help companies focused on “Internet and Digital Media, financial and information services, clean tech, software, enterprise IT, communication services, semiconductors, and industrial technologies.”

Battery has had a pretty good run recently, with two exits already in 2010. The firm’s investment in Healthvision paid off when the company sold to Lawson for $166M in January. Its portfolio company Nova Analytics, which Battery helped buyout in 2003, was bought by ITT in February for an undisclosed amount, though Battery says they did well on the exit.

Many venture firms have either gone out of business or taken in less money in the last two years, as the venture industry hits hard times. The fact that Battery’s new fund is the same size as its preceding one, BV VIII raised during the heyday of 2007, is impressive. Eighty-five percent of the limited partners in BV IX were repeat investors.

Battery’s recent investments include marketing technology startups BlueKai, LiveIntent and Pursway, and education platform eduFire, which pairs up teachers and students online.

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