Battery News
FOR IMMEDIATE RELEASE
Battery Ventures Adds Partner to Silicon Valley Office
Mike Scanlin Joins Team; Will Focus on Expansion Deals in Technology Sector
WALTHAM, MA and MENLO PARK, CA; January 18, 2007 – Battery Ventures, a venture capital and private equity firm focused on investing in technology and innovation worldwide, today announced the addition of Mike Scanlin as Partner in its Silicon Valley office. Scanlin will focus on investments in mid- to later-stage revenue-generating technology companies. He joins from Silicon Valley-based Sierra Ventures.
“We’ve been fortunate to be able to consistently attract talent to Battery, and Mike rounds out a solid team of GPs, partners and investment professionals in our Silicon Valley office,” said Ken Lawler, General Partner at Battery Ventures. “His background and investing skills extend our firm’s core competency working with later stage companies, an area where we continue to see opportunity. And, he’s very successfully made the transition in his career from an engineer to an experienced business person and investor, so will bring tremendous value to entrepreneurs.”
Battery’s Silicon Valley office opened in 1995 and the firm is currently investing BV VII, a $450M fund. The firm’s investments extend across stages and technology sectors worldwide, including clean tech and advanced materials, Internet and digital media, semiconductors, software, communications services, and infrastructure. The BV VII portfolio comprises approximately half start up/early stage companies, and half expansion and private equity investments.
Battery’s Menlo Park-based team has invested in a number of notable area companies, including: Advanced Analogic (Nasdaq: AATI), AireSpace (acquired by Cisco), Lara Networks (acquired by Cypress Semiconductor), Neoteris (acquired by Netscreen/Juniper) and SigmaTel (Nasdaq: SGTL).
“Battery has an enviable twenty-plus year track record and I’m honored to join the team,” said Scanlin. “There’s an incredible number of entrepreneurs with breakthrough ideas who require experience, capital and a partner-minded investor to help them grow quickly and efficiently. I’ve coded products from the ground-up, and scaled with companies from founding teams through IPO. I’m hopeful this perspective and experience will benefit the management teams we’re looking to support.”
Mike Scanlin Background
Prior to joining Battery, Mike spent 4 years with Silicon Valley based Sierra Ventures. Mike is currently on the Board of Air Media and Steelbox Networks, and has also held board seats with 360Commerce (acquired by Oracle) and Micro Power (acquired by Westin Presidio). He was a board observer for Axentis, DBS Communications, Element Labs, Vykor, and Zebra Imaging. Before Sierra, Mike was VP Entrepreneur Development Operations at Garage.com (now Garage Technology Ventures) where he personally read more than 10,000 executive summaries and helped dozens of companies raise $330 million in venture financing. Mike spent many years on the technical side of the house, and has been published more than 50 times during his software career. Career highlights include: General Magic (Nasdaq IPO in ‘97) and Storm Technology (Nasdaq IPO in ‘94). Mike graduated with honors from UC San Diego with a Bachelor’s Degree in Management Science. He has held NASD Series 7, 24, and 63 licenses.
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts.
Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (AKAM), Cbeyond (CBEY), LIFFE (acquired by Euronext), Neoteris (acquired by Netscreen), and SigmaTel (SGTL). Its current portfolio includes emerging firms such as Advent Solar, Lion Cells, Netezza, Spot Runner, and Tejas Networks, as well as more established companies such as ITA Software, Made2Manage, MetroPCS, and Nova Analytics.
From offices in Boston, Silicon Valley and Israel, Battery manages more than $2B in committed capital. For more information, visit www.battery.com.
Contact:
Karen Bommart
Battery Ventures
781-478-6672
kbommart@battery.com