Battery Ventures has raised $3.25 billion of new capital to invest in technology companies around the world, as it doubles down on artificial intelligence and enterprise software opportunities.
The new vehicle, Battery Ventures XV, was oversubscribed and closed in a single round, one of the largest recent fundraises in the tech-focused private equity and venture capital market.
The Boston- and San Francisco-headquartered firm said the fund will support businesses in the US, Europe and Israel, investing from seed and early-stage rounds to growth equity and buyouts.
The increase comes after a year of strong discharges, with the battery announcing 15 discharge events in 2025. Over the past five years, its fund has generated more than $10 billion in liquidity, reflecting what the firm describes as its stage-diversified strategy.
Battery's general partner Michael Brown said the current technology cycle is being reshaped by AI. “AI is ushering in one of the most consequential eras in the history of technology,” he said. “We believe our global reach and long-standing focus on software and enterprise technology position us well to capitalize on this opportunity.”
Battery plans to invest the new capital in applications software, infrastructure software, including data, AI, developer tools and cybersecurity, as well as industrial technology and life-science tools.
The firm operates from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv, with a collaborative research-based investment model in the venture and buyout markets.
Jesse Feldman, a general partner who leads Battery's industrial technology and life-sciences devices practice, said the company sees continued potential in both the U.S. and European markets. “We are highly selective investors focused on driving meaningful value in exceptional businesses,” he said, adding that the capital will be deployed to support research and development, sales expansion and targeted acquisitions.
Battery has invested in over 530 companies globally since its inception, resulting in 73 IPOs and over 225 mergers and acquisitions. The firm has been active in Europe since 2005 and has completed over 150 transactions in the UK and 12 other European countries.
Late last year, Battery moved to a new London office to run its European operations, signaling a long-term commitment to the region's technology ecosystem.
The company has also strengthened its leadership team, with an internal promotion of Guidewire Software co-founder and former CEO Marcus Ryu to general partner and the addition of Barak Schoster to partner in Tel Aviv.
With AI investment accelerating globally and competition intensifying among enterprise companies, Battery's latest fund positions it to compete aggressively in both early-stage innovation and large-scale technology purchases, at what it describes as a defining moment for the sector.
Amy Ingham
Amy is a newly qualified journalist specializing in business journalism with responsibility for news content at Business Matters, the UK's largest print and online source of current business news.