TechFlow News, February 18: According to Tech Funding News, veteran venture capital firm Battery Ventures has announced the successful close of its fifteenth fund, Battery Ventures XV, with $3.25 billion in committed capital—nearly flat compared to its prior fund raised in 2022. The fundraising process took just four months. Approximately 80% of the capital came from existing limited partners, with the remainder from new LPs. Battery Ventures stated that it has generated over $10 billion in returns for investors over the past five years—a track record widely regarded as a key driver behind the swift fundraising success.
Regarding investment strategy, Battery Ventures plans to continue focusing on software applications and infrastructure layers, with priority areas including AI, developer tools, and cybersecurity, while also expanding its coverage into industrial technology and life sciences. Partner Michael Brown believes the recent sell-off in software stocks reflects market overreaction. Although the AI wave will transform how software is sold and delivered, leading incumbents are already actively adapting to this shift. The firm also stated it will closely monitor product roadmaps from foundational model builders such as OpenAI and Anthropic to avoid direct competition.
Battery Ventures was founded in 1983 and is headquartered in Boston, with offices in London and Tel Aviv. To date, it has invested in over 530 companies, facilitated more than 70 IPOs, and supported hundreds of M&A transactions. Its notable portfolio companies include Coinbase, Databricks, Affirm, Shopify, and Wayfair.
