Battery Ventures announced the close of a new $3.25 billion fund, Battery Ventures XV, to continue backing technology companies globally, with a focus on the U.S., Europe, and Israel. The oversubscribed fund was completed in a single close and comes as the firm continues investing across both the venture capital and buyout markets. The raise follows 15 announced exit events for Battery in 2025 and more than $10 billion in liquidity realized over the past five years, reflecting the firm’s stage-diversified approach.
Battery said the new capital will be deployed across all stages, from early- and growth-stage to buyout, targeting areas including application software; infrastructure software such as data and AI, developer tools, and cybersecurity; as well as industrial technology and life-science tools. The firm operates as one global team with offices in Boston, San Francisco, Menlo Park, New York, London, and Tel Aviv.
Since its founding in 1983, Battery has invested in more than 530 companies globally, excluding seed-stage deals, resulting in 73 IPOs and more than 225 M&A events through Sept. 30, 2025.
The fundraising also follows a series of leadership developments at the firm. In September, Battery promoted Marcus Ryu, co-founder and former CEO of Guidewire Software, to general partner. Zak Ewen, Satoshi Harris-Koizumi and Justin Rosner were each promoted to partner during the deployment of the firm’s most recent fund, and Barak Schoster joined as a partner in the Tel Aviv office. Late last year, Battery moved into a new London office to serve as the base for its European investment operations, where it has completed more than 150 transactions across the U.K. and 12 European countries since 2005.
KEY QUOTES
“We’re excited to build on our past success and partner with new, innovative companies in this dynamic market—driven, in large part, by the rise of artificial intelligence. To us, AI is ushering in one of the most consequential eras in the history of technology. We understand the gravity of this moment and feel well-suited to capitalize on the opportunity, given our global reach and decades-long focus on software and enterprise tech.”
Michael Brown, General Partner at Battery Ventures
“We are highly selective investors whose goal is driving meaningful value in exceptional businesses. We see enormous, continued opportunity in the software and industrial-tech markets across the U.S. and Europe—businesses we can help grow with focused investment in R&D, sales and add-on acquisitions.”
Jesse Feldman, General Partner at Battery Ventures
