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Rebecca Buckman  |  February 12, 2020
The More Things Change . . . Announcing Battery Ventures XIII and XIII Side Fund

In an industry marked by increasingly big numbers, big personalities and big technology trends, one small fact remains: A tried-and-true strategy can still stand out.

Today, global investment firm Battery Ventures announces its thirteenth family of funds, Battery Ventures XIII and XIII Side Fund, capitalized at a combined $2 billion. It represents the firm’s largest-ever fundraise. But the investing strategy behind the new funds has stayed much the same over the past decades.


Battery, which was founded out of one office in Boston in 1983, continues to rely on several core principles as it invests. These include backing tech companies at all stages of maturity, from very small, seed-stage startups all the way to more-established companies in which Battery takes a majority position. We also seek to establish ourselves as a domain expert in various tech sectors to spot the most promising deals and company founders; right now, that means immersing ourselves in areas as diverse as B2B software, cloud computing, healthcare-IT, fin-tech and consumer marketplaces, among others.

Finally, Battery has always tried to develop a strong internal culture and promote from within. To that end, we’re also announcing today that we’ve promoted Zack Smotherman, who has been at Battery for just over six years, to the role of partner. Smotherman specializes in later-stage deals in the industrial-technology sector.

What’s more, our group of 10 general partners boasts an average tenure of 14.7 years. The longest-tenured Battery GP has been with the firm for 23 years.

Of course, some things have changed over time: Battery now operates out of six global offices, not just one, and relies on an investment team of 49 people to carry out its mission. We’re also working more closely with portfolio companies to help them build revenue, make acquisitions, find new customers, hire the best talent and implement the best marketing and branding strategies.

Here’s a look at more facts and figures that tell the Battery story today.

Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website. For a complete list of portfolio companies, please click here.

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