Battery Ventures Private Equity Firm Profile and AUM

Battery Ventures is a private equity firm that's been around since 1983. They're based in Massachusetts and have a strong presence in the venture capital industry. Founded by two Harvard Business School graduates, Dennis Boyle and Ed Kelly, the firm has grown significantly over the years.

Battery Ventures has a long history of investing in successful companies, with a focus on growth equity and venture capital. They've made investments in a wide range of industries, from software and fintech to healthcare and e-commerce. With a team of experienced investors and operators, they're able to provide guidance and support to their portfolio companies.

One of the key factors that sets Battery Ventures apart is their commitment to investing in companies that have the potential for long-term growth and success. They take a collaborative approach to investing, working closely with their portfolio companies to help them achieve their goals. This approach has led to some impressive returns on investment, with many of their portfolio companies going on to achieve significant success.

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Battery Ventures was founded in 1983 in Boston, Massachusetts by Rick Frisbie, Howard Anderson, and Bob Barrett. The firm has since raised over $13 billion in capital through 14 funds and corresponding side funds.

Battery's first fund, Battery I, was launched in 1984 with $34 million in committed capital. This was followed by Battery II in 1988, which had $42 million in committed capital.

Here's a breakdown of Battery's funds:

Battery Ventures was founded in 1983 in Boston, Massachusetts by Rick Frisbie, Howard Anderson, and Bob Barrett. They've been around for over 39 years, which is impressive!

The firm has raised more than $13 billion in capital through 14 funds and corresponding side funds. That's a significant amount of money!

Battery I was the first fund, raised in 1984 with $34 million in committed capital. It's interesting to see how the firm has grown from there.

Battery II was raised in 1988 with $42 million, followed by Battery III in 1994 with $85 million. It's clear that the firm was expanding its reach.

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Battery IV was a major milestone, raised in 1997 with $200 million. This was followed by Battery V in 1999 with $444 million and Battery VI in 2000 with $850 million.

The firm continued to grow, with Battery VII raised in 2005 with $450 million and Battery VIII in 2007 with $750 million. Battery VIII SF was raised in 2008 with $200 million, showing that the firm was diversifying its funds.

Battery IX was raised in 2010 with $750 million, followed by Battery X in 2013 with $650 million and Battery X SF with $250 million. It's clear that the firm has been consistently raising large amounts of capital.

Battery XI was raised in 2016 with $650 million, followed by Battery XI SF with $300 million. This was followed by Battery XII in 2018 with $800 million and Battery XII SF with $450 million.

The firm's most recent funds include Battery XIII, raised in 2020 with $1,200 million, and Battery XIII SF with $800 million. Battery Select Fund I was raised in 2021 with $400 million, and Battery XIV in 2022 with $3,300 million.

The current investing general partners include Neeraj Agrawal, Michael Brown, Morad Elhafed, Jesse Feldman, Russell Fleischer, Roger Lee, Chelsea Stoner, Dharmesh Thakker, and Zack Smotherman.

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Battery Ventures has a rich history that spans over three decades. Founded in 1983 in Boston, Massachusetts, the firm has raised more than $13 billion in capital.

The firm's first fund, Battery I, was launched in 1984 with $34 million in committed capital. This was just the beginning of a long journey of growth and expansion.

Battery's funds have consistently increased in size over the years, with the most recent fund, Battery XIV, raising $3.3 billion in 2022.

Here's a breakdown of Battery's funds and their corresponding committed capital:

Battery Ventures has made a significant impact in the investment world. As of 2021, they have invested in over 450 companies.

The firm's investment strategy is focused on various sectors, including application software, infrastructure software, consumer, and industrial tech + life sciences. This diversification has led to notable deals such as Avrios, Cheq, and DataBricks.

Battery Ventures operates 16 funds and has a strong track record of successful investments, with 69 companies going public and another 185 merging or being acquired.

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Battery Ventures has made a significant number of investments, with a total of 837 investments since inception, according to their portfolio.

Their investment focus includes application software, infrastructure software, consumer, and industrial tech + life sciences.

Battery Ventures has invested in over 450 companies, with 69 going public and another 185 merging or being acquired.

Some notable deals include Avrios, Cheq, and DataBricks, which have been part of their investment portfolio.

Their investment strategy has led to 311 portfolio exits, with their latest exit being Learnosity on January 16, 2025.

Battery Ventures operates 16 funds and has made over 1,129 investments, with their latest investment being in Coram AI as part of their Series A on January 16, 2025.

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Battery Ventures is a prolific acquirer, having made 66 investments in companies.

Their acquisition pace is impressive, and it's likely that they have a robust process in place to identify and vet potential targets.

One notable acquisition was Signiant, which was acquired on January 1, 2025.

Battery Ventures has a busy track record, having acquired 10 companies in the last 3 years and invested in 6 others.

The Firm's investment focus is on software, making up 30% of its portfolio, and information technology, which accounts for 18%.

Battery Ventures has invested in 23 US states and 11 different countries, showing its global reach.

Battery Ventures is a private equity firm that has been quite active in the last three years, acquiring 10 companies and investing in 6 others. It's impressive to see how they've expanded their portfolio.

Their most common sectors for investment are software, making up 30% of their investments, and information technology, which accounts for 18%. This focus on tech is no surprise, given the rapid growth and innovation in these areas.

Battery Ventures has invested in 23 US states and 11 different countries, showing their willingness to take on opportunities beyond their local market. Their global reach is quite extensive.

In the last three years, the firm has exited 13 companies, with 53% of those exits being through trade sales. This suggests that they're successful at finding buyers for their portfolio companies.

Their largest disclosed exit was in 2022, when they sold Forterro UK for $1.1B. This is a significant amount of money, and a testament to the firm's ability to deliver strong returns on investment.

AUM stands for Assets Under Management, which is a crucial metric for private equity firms to measure their success.

Battery Ventures manages a significant amount of assets, with $17.8 billion under management as of March 31, 2022.

If you're asked "Why Battery Ventures", it's not just about spouting off generic answers. You need to show that you've done your research and have a genuine interest in the company.

Interviewers at Battery Ventures want to know if you have solid reasons for wanting to work there. They like to see if you've done your homework and can connect the dots between the company's mission and your own goals.

Listening to interviews with the firm's founders, investors, and key personnel can give you valuable insights and help you come up with a more impressive answer. For instance, checking out an interview with Bill Binch, operating partner at Battery Ventures' San Francisco office, can give you a better sense of what the company values and what they're looking for in a candidate.

Having a personal connection to someone at the company can also make your answer more compelling. If you've done networking, you can mention the people you've met and how they've made a really amazing impression on you.

If you're considering an interview at Battery Ventures, be prepared for a thorough process that can take up to several weeks. The firm typically conducts 4 to 6 rounds of interviews, with the HR team or junior investment professionals supervising the initial interviews and the more senior staff conducting the later rounds.

The interview process will likely include fit questions, behavioral questions, and technical/investing questions, so make sure to brush up on your skills and experience. You can expect to be asked about your background, motivations, and problem-solving abilities.

Here are some estimated salary ranges for investment professionals at Battery Ventures:

Keep in mind that these figures are based on median salaries and can vary depending on your level of experience and qualifications.

You'll likely go through 4 to 6 rounds of interviews at Battery Ventures or similar firms.

The interview process can be extensive, taking up to several weeks, unless it's "on-cycle" or "on-campus" recruiting.

You can expect to answer fit questions, behavioral questions, and technical/investing questions during the interview process.

To prepare, be ready to discuss your fit for the firm, share examples of your past experiences, and demonstrate your knowledge of investing and business concepts.

The interviewers will include both junior investment professionals and more senior staff, with the HR team supervising the initial interviews.

Compensation for investment professionals at Battery Ventures are quite competitive, with a median total pay of $110,933 per year for Analysts and $118,412 per year for Associates.

Recent data suggests that Associates at the firm have earned up to $120,411 per year.

These figures can vary depending on your level of experience and qualifications, and are based on publicly available data and Glassdoor estimates.

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Battery Ventures' investment in Zoom was a perfect example of their unconventional playbook. They invested in the company when it was still a relatively small player in the video conferencing market.

Their willingness to take a risk on a smaller company paid off, as Zoom's user base grew exponentially and the company went on to become a household name. This investment strategy allowed Battery Ventures to reap significant returns on their investment.

Battery Ventures' expertise in identifying and investing in innovative companies has been a key factor in their success. Their investment in Zoom is just one example of this expertise in action.

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Case Study is a crucial part of the hiring process at firms like Battery Ventures, where candidates need to demonstrate both technical knowledge and good communication skills.

Firms use case studies to evaluate these two attributes, and most case studies dive deep on investment recommendations and financial modeling.

Junior roles often require a cold calling case study as well, which is a unique aspect of the hiring process.

For in-depth lessons on case studies, you can check out resources like the Growth Equity Interview Guide.

Here's an unconventional playbook for $3B+ funds that's worth considering.

Start by identifying a unique niche within the private equity space, such as investing in emerging markets or focusing on sustainability.

This approach can help you stand out from the competition and attract a dedicated team of professionals.

A key challenge is finding the right talent, but partnering with top-tier universities and leveraging their networks can help you tap into a pool of skilled and motivated individuals.

By investing in their education and providing opportunities for growth, you can build a loyal team that shares your vision.

One successful example is investing in a company that has a strong track record of innovation and growth, such as a fintech firm with a scalable business model.

This type of investment can provide a high potential for returns and help you achieve your fund's goals.

Another approach is to focus on creating a strong ecosystem around your portfolio companies, including access to top-tier talent, resources, and networks.

This can be achieved through strategic partnerships and collaborations that provide value to both your fund and the companies you invest in.

By taking a long-term view and being willing to take calculated risks, you can achieve significant returns and build a reputation as a successful and innovative investor.

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