Battery Ventures is a global, technology-focused investment firm founded in 1983 and headquartered in Boston, Massachusetts. One of the longest-standing technology-focused venture firms in the world, Battery has spent over four decades backing category-defining companies across software, infrastructure, industrial technology, and life sciences. The firm operates as a single, integrated global team from offices in Boston, San Francisco, Menlo Park, New York, London, and Tel Aviv, and has invested in more than 530 companies since inception, producing over 70 public listings and hundreds of acquisitions. Battery is well known for its stage-agnostic, research-driven approach, backing companies from seed through growth and buyout, and for generating more than $10 billion in returns for its LPs over the past five years alone.
Battery Ventures XV closed in February 2026 at $3.25 billion, making it one of the largest technology-focused venture closes of the cycle and roughly in line with its predecessor, Battery Ventures XIV, which closed alongside a companion fund in July 2022 at a combined $3.3 billion. The new fund was raised in approximately four months, a remarkably fast pace given broader LP caution across the venture industry, and roughly 80 percent of the capital came from existing limited partners, reflecting deep institutional loyalty to the Battery franchise.
The firm did not publicly disclose a target before the close. Battery XV follows 15 announced exit events for the firm in 2025, including the sale of UK-based Physical Properties Testers Group to SK Capital, and arrives as the broader VC market is under pressure from muted IPO activity and a compressed software valuation environment. General Partner Michael Brown framed the fund's timing around AI, describing the current moment as "one of the most consequential eras in the history of technology" and expressing confidence in Battery's positioning given its global reach and multi-decade focus on software and enterprise infrastructure.
The fund will continue Battery's multi-stage strategy, deploying capital across seed, early, growth, and buyout opportunities in the firm's core sectors. Alongside the fund close, Battery promoted Zak Ewen, Satoshi Harris-Koizumi, and Justin Rosner to partner, and also hired Barak Schoster as a partner in its Tel Aviv office. The firm also recently moved into a new London office to anchor its expanding European investment operation.
Leadership
Battery Ventures is led by a broad partnership. Michael Brown serves as General Partner and is a primary face of the firm's current AI investment thesis. Jesse Feldman is a General Partner leading the firm's industrial technology and life-science tools practice, operating primarily out of the Boston office. Marcus Ryu is a General Partner with a strong background in enterprise software. Zak Ewen is a London-based partner who anchors the firm's European deal sourcing and evaluation efforts, and recently hired former Forterro executive David Coste as an executive-in-residence to deepen that practice. Satoshi Harris-Koizumi and Justin Rosner were both promoted to partner during the deployment of Fund XIV. Barak Schoster was hired as a partner in Tel Aviv. The team of 117 people includes 31 partners, and the firm sits on the boards of 13 companies at any given time. Battery operates as one global team rather than regional silos, which is central to how it sources and supports cross-border investment opportunities.
Investment Strategy
Battery pursues what it calls a collaborative, research-driven style of investing. The firm conducts deep market and competitive analysis before making investments, favoring a thesis-first approach over reactive deal chasing. Its multi-stage mandate gives it the flexibility to invest at any point in a company's lifecycle, which also allows it to back companies early and follow on aggressively as they scale. Battery has a strong platform of post-investment services covering go-to-market coaching, talent and recruiting, business development, marketing and communications, and finance and analytics, all of which are made available to portfolio companies.
The firm is deliberately selective, aiming for concentrated positions in high-conviction bets rather than broad portfolio diversification. In Europe specifically, Battery has completed more than 150 transactions across the UK and 12 European countries since 2005, and its recent expansion of its London office signals a continued commitment to deepening that presence. The firm has a long history of co-investing alongside top-tier firms including Andreessen Horowitz, EQT, and Atomico.
Notable Investments
Battery's portfolio of over 530 companies spans some of the most recognized names in technology.
Among its most prominent bets are:
Notable Exits
Battery has an extensive exit track record spanning over 70 public listings and hundreds of acquisitions. Among its most celebrated exits are:
In 2025 alone the firm announced 15 exit events, including the sale of Physical Properties Testers Group to SK Capital. Over the past five years Battery's funds have returned more than $10 billion in liquidity to LPs.
Other
Founders should know that Battery is one of the few venture firms with both the scale and the institutional durability to support a company from seed all the way through to a public listing or buyout, making it a particularly valuable long-term partner for founders who want a single firm that can stay in the cap table across multiple rounds. The firm's research-driven approach means founders should expect a thorough diligence process and should be prepared to engage substantively on market sizing, competitive dynamics, and product differentiation. Battery is especially active in Europe and Israel in addition to the United States, so founders outside of the US tech hubs should not assume they are out of reach. The firm's industrial technology and life-science tools practice, led by Feldman, is a specific area of expanding focus and is underrepresented in most VC coverage of Battery despite being a meaningful part of the fund strategy. One point of context worth noting: Feldman has publicly flagged concern about the impact of US federal research funding cuts on the life sciences sector, particularly in Massachusetts, suggesting Battery may be looking more actively at European and Asian markets for deals in that vertical in the near term.
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