Battery Ventures Closes $3.25B Fund to Back Software and Industrial Tech

Battery Ventures just locked down $3.25 billion for its XV fund. That's roughly on par with what the firm raised back in 2022 — no small feat in today's market.

The global investment firm plans to deploy the capital into new tech deals, with a focus on software companies and industrial tech firms. The backdrop? Growing concerns about AI disruption reshaping entire sectors.

It's a notable signal. While plenty of investors are either chasing pure AI plays or sitting on the sidelines, Battery is doubling down on the broader software ecosystem — the kind of companies that either ride the AI wave or risk getting swallowed by it.

Raising a fund this size shows LP confidence remains strong for firms with established track records, even as the venture landscape continues to shift under AI pressure.