Monday, July 9, 2007

Battery Closes $750M Fund, Appoints General Partners

Battery Ventures, which maintains offices in both Waltham, Mass. and Menlo Park, California, said today that it has closed a $750M venture capital fund, BV VIII. The fund is the firm's eighth, and brings the total committed capital in its funds to $2.9B. The company said that with the closing of the new fund, it has promoted Neeraj Agrawal, Michael Brown, and Sunil Dhaliwal to General Partners. Battery did not disclose the names of the Limited Partners in the new fund, but said that they were mainly long-time investors in its previous funds, including corporations, endowments, pension funds, and fund of funds.