Battery Ventures raises $3.8B, becoming latest venture firm to garner billions in new capital – Silicon Valley Business Journal – The Business Journals

Battery Ventures is the latest venture outfit to join the billion-dollar club.

The Boston firm, which has offices in Menlo Park and San Francisco, announced Thursday it’s raised $3.8 billion for a trio of new funds. Some $3.3 billion of that total will go to its 14th flagship fund and a companion investment vehicle. The firm is dedicating the other $530 million to a “select” fund for making add-on investments in its existing portfolio companies.

Battery is the second firm this week with Bay Area ties to score billions in new capital. On Tuesday, Menlo Park-based Lightspeed Venture Partners announced it had raised $7.1 billion total for four new funds.

Those jumbo-sized fundraising efforts come amid a gonzo year for the venture industry. In the first six months of the year, U.S. venture firms raised $121.5 billion, according to PitchBook Data. That tally would already be the second highest amount for an entire year and is well on its way to topping last year’s record of $138.9…

Read Full Story: https://www.bizjournals.com/sanjose/news/2022/07/15/battery-ventures-reloads-with-3-8b-in-new-capital.html

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