Battery Ventures Raises $750 Million For New Fund
Battery Ventures has closed in on a $750 million fund. The new fund was raised over a 5 month period. Some people decided to put in funding without even having a meeting at all.
One of the reasons why investors were encouraged to put money into Battery Ventures is because the venture capital firm lowered the interest fee from profits to 20% from 25%. However if Battery Ventures was able to provide returns that were three times the capital, the fee would rise to 30%. [WSJ]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry