Tuesday, September 9, 2008

Battery promotes partner, principals; plans India office as fund closes

Battery Ventures has named a new firm partner — Ramneek Gupta, who joined Battery in 2006 — and is working to open the venture capital firm’s new office in Bombay, India.

Battery, which operates an office in Waltham, also promoted Jesse Feldman, who focuses on growth equity and buyout investing, to firm principal. He joined Battery in 2005, company officials said. Brian Lieber, who joined Battery in 2004, was promoted to principal. He oversees investments from the firm’s entrepreneur-in-residence program. Brian O’Malley, who joined Battery in 2004, was also promoted to principal.

The promotions and appointment come one week after Battery confirmed that it closed a $250 million supplement fund to complete more big-ticket growth-equity and buyout investments. The new fund, which attracted 64 investors, is listed as a side fund to supplement Battery’s $750 million eighth fund that the firm closed in July 2007, according to a filing with the U.S. Securities and Exchange Commission. The side fund closing came the same week Battery announced that it was expanding its office in Israel, but officials said the two events were unrelated.

Battery has also recently added three senior associates (clean tech, communications services, private equity) and three associates (software, private equity) to its investment team, officials said.

Last month, Battery expanded its Israel office by moving U.S.-based general partner Scott Tobin and senior associate David Sokolic to the firm’s Herzilya office, which Battery opened in 2005. Battery, founded in 1983, also operates an office in California. The firm invests in various stages and several industry sectors. Investments include seed and startup combined with expansion financing, growth equity and buyout deals.