Venture Capital Firm Battery Closes Two New Funds Worth $1.25 Billion

Venture capital firm Battery Ventures LP has closed two new funds with a combined worth of $1.25 billion, the company announced Tuesday. The two funds will focus on investments in business software, enterprise-IT infrastructure, consumer internet and mobile and industrial tech. The new funds may be used to fuel investments in Israeli technology firms, according to Scott Tobin, a general partner with the firm’s Israel office.

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For Battery, investment opportunities outside of the U.S. “are bigger than domestic opportunities,” Mr. Tobin said in a phone interview with Calcalist Tuesday. Founded in 1983 and headquartered in Boston with additional offices in San Francisco, Menlo Park, California, London, and Herzliya, a northern suburb of Tel Aviv, Battery has invested in 385 companies worldwide to date, excluding seed investments. One of the key venture capital players in the Israeli technology hub, Battery has two partners and a team of six more employees on-ground in Israel. Battery invested in Israeli chip company Anobit Technologies Ltd. acquired by Apple in 2011, and in Israeli flash storage company XtremIO Ltd. acquired by EMC in 2012. The firm’s portfolio companies also include Israel-based cloud backup company Zerto Ltd., cybersecurity startup GuardiCore Ltd., and cloud infrastructure startup Stratoscale Ltd.

The numerous Israeli firms seeking to raise growth rounds and stay private longer supply Battery with investment opportunities for its new funds, Mr. Tobin said.