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Two Asia-focused investors are leaving Battery Ventures, the company has confirmed this morning.
General Partner Mark Sherman, who oversees Asia-Pacific investments from the firm’s Palo Alto office, will not participate in the firm’s upcoming ninth fund, a spokeswoman confirmed. Managing Director Gautam Patel will also leave the firm, she said.
The news was first reported early this morning on the India-based news site Daily News and Analysis.
Both investors plan to leave the Waltham-based venture capital and private equity firm once the new-investment phase of its current eighth fund ends this January, spokeswoman Karen Bommart said. That would leave only Ramneek Gupta, who joined the firm in 2006 and was promoted to partner in 2008, running the firm’s office in Mumbai, India.
Battery raised a $750 million main fund and a $250 million supplement for its eighth fund in 2007, bringing the fund’s total worth to $1 billion.
Last week senior associate Adam Marcus confirmed that he has left Battery Ventures to take a position as a principal at OpenView Venture Partners, an expansion-stage venture capital fund based in Boston. Marcus confirmed the move but declined to comment until after his official start at OpenView, which will be in September.
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