Battery Ventures Raises $3.25 Billion For New Fund

The oversubscribed Fund XV will continue backing technology companies globally, with a focus on the U.S., Europe, and Israel.

Published on Feb. 21, 2026

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Battery Ventures, a leading venture capital and private equity firm, has announced the close of a new $3.25 billion fund, Battery Ventures XV. The fund will be used to continue backing technology companies globally, with a focus on the U.S., Europe, and Israel. The raise follows 15 announced exit events for Battery in 2025 and more than $10 billion in liquidity realized over the past five years.

Why it matters

The new fund highlights Battery Ventures' continued commitment to investing in innovative technology companies, particularly in the areas of application software, infrastructure software, industrial technology, and life-science tools. The firm's stage-diversified approach and global reach position it well to capitalize on emerging trends, such as the rise of artificial intelligence.

The details

The oversubscribed fund was completed in a single close and will be deployed across all stages, from early- and growth-stage to buyout. Battery has invested in more than 530 companies globally since its founding in 1983, resulting in 73 IPOs and more than 225 M&A events through September 30, 2025. The firm has also made several leadership developments, including the promotion of Marcus Ryu, co-founder and former CEO of Guidewire Software, to general partner.

  • Battery Ventures announced the close of the new $3.25 billion fund on February 21, 2026.
  • The firm has realized more than $10 billion in liquidity over the past five years, through September 30, 2025.
  • Battery promoted several employees to leadership roles, including Marcus Ryu to general partner, in September 2025.

The players

Battery Ventures

A leading venture capital and private equity firm that invests in technology companies globally, with a focus on the U.S., Europe, and Israel.

Michael Brown

General Partner at Battery Ventures.

Jesse Feldman

General Partner at Battery Ventures.

Marcus Ryu

Co-founder and former CEO of Guidewire Software, promoted to General Partner at Battery Ventures in September 2025.

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What they’re saying

“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 (pulse2.com)

“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 (pulse2.com)

The takeaway

Battery Ventures' new $3.25 billion fund highlights the firm's continued commitment to investing in innovative technology companies, particularly in areas like AI, software, and industrial tech. The firm's global reach, stage-diversified approach, and recent leadership developments position it well to capitalize on emerging trends and drive value for exceptional businesses.