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NEW YORK -- Battery Ventures, a venture capital firm specializing in early stage tech
investments, has added a new venture partner to help its portfolio companies raise
additional funding.
The move, announced Monday, underscores how difficult it is for start-ups to lure new
investors since the burst of the dot-com bubble, as well as the burden VC firms face if
their portfolio companies can't secure more funding.
New-hire Stephen Terry, a former investment-banking director at Credit Suisse First
Boston, will serve as a liaison between the private capital market industry and Battery's
portfolio companies that are seeking additional rounds of funding.
"Even when times were good and there was plenty of money, having Steve would have
made it that much easier for our companies to raise capital," said Ken Lawler, a general
partner in Battery's San Mateo, Calif., office. "Today, the need is just that much more
acute."
Having a venture partner specifically dedicated to portfolio companies' fund-raising
needs will free up more time for general partners to focus on their companies' strategic
needs.
Perhaps more importantly, it will offset the need for Battery (www.battery.com) itself to
put more of its own capital to keep previous investments afloat. "Occasionally we find
ourselves having to support companies," said Mr. Lawler.
Battery is by no means the only venture firm making such follow-on investments these
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit
http://www.djreprints.com.
http://www.wsj.com/articles/SB100497502976968440
VENTURES MAIN
Battery Adds Partner to Help Its
Portfolio Firms Raise Cash
Updated Nov. 5, 2001 11:03 a.m. ET
By JANET WHITMAN Dow Jones Newswires
days. The clampdown on venture investing, as well as a lack of viable exit strategies, such
as mergers or IPOs, has prompted a growing list of high-profile VC firms to raise annex,
or "bailout," funds to keep their portfolio companies going.
"Cash is no longer the plentiful commodity we once enjoyed," Mr. Terry, who will be
based in Battery's San Mateo office, said in an interview. "The idea is that I will be able to
get in very early -- 12 months ahead of the actual fund-raising process -- and work with
companies to best position them. ... I'll also be working with funding sources to see
where they got burned and where they're excited to best match them with our portfolio
companies."
The new position is the latest in a string of hires by Battery over the past couple of years
in an effort to provide pockets of expertise to allow the general partners to focus on
strategic issues.
Among the firm's other specialty venture partners are two in marketing and one in
executive recruitment.
Battery has more than 60 portfolio companies. The firm's investments include Akamai
Technologies Inc., Arbor Networks, Storigen, Looking Glass and others.
So far this year, Battery has invested a total of $28 million in seven technology
companies.
Four of the firm's portfolio companies have been acquired this year, including LIFFE,
which was acquired by Euronext last week for $700 million; RiverDelta, acquired by
Motorola Inc. for $300 million; Lara Networks, acquired by Cypress Technologies for
$255 million; and Altra Energy, which was acquired by Caminus for $65.5 million.
Write to Janet Whitman at janet.whitman@dowjones.com
CMOCMO
Altice Will Rely on Cost Cuts to Make
Cablevision Deal Work
POLITICS AND POLICYPOLITICS AND POLICY
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Libya Risk,...
HEALTH & WELLNESSHEALTH & WELLNESS
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FOOD & DRINKFOOD & DRINK
Frosted Flakes as Dining Event:
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WHAT TO READ NEXT...
Copyright 2014 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For
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Battery Adds Partner to Help Its Portfolio Firms Raise Cash - WSJ

  • 1. NEW YORK -- Battery Ventures, a venture capital firm specializing in early stage tech investments, has added a new venture partner to help its portfolio companies raise additional funding. The move, announced Monday, underscores how difficult it is for start-ups to lure new investors since the burst of the dot-com bubble, as well as the burden VC firms face if their portfolio companies can't secure more funding. New-hire Stephen Terry, a former investment-banking director at Credit Suisse First Boston, will serve as a liaison between the private capital market industry and Battery's portfolio companies that are seeking additional rounds of funding. "Even when times were good and there was plenty of money, having Steve would have made it that much easier for our companies to raise capital," said Ken Lawler, a general partner in Battery's San Mateo, Calif., office. "Today, the need is just that much more acute." Having a venture partner specifically dedicated to portfolio companies' fund-raising needs will free up more time for general partners to focus on their companies' strategic needs. Perhaps more importantly, it will offset the need for Battery (www.battery.com) itself to put more of its own capital to keep previous investments afloat. "Occasionally we find ourselves having to support companies," said Mr. Lawler. Battery is by no means the only venture firm making such follow-on investments these This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. http://www.wsj.com/articles/SB100497502976968440 VENTURES MAIN Battery Adds Partner to Help Its Portfolio Firms Raise Cash Updated Nov. 5, 2001 11:03 a.m. ET By JANET WHITMAN Dow Jones Newswires
  • 2. days. The clampdown on venture investing, as well as a lack of viable exit strategies, such as mergers or IPOs, has prompted a growing list of high-profile VC firms to raise annex, or "bailout," funds to keep their portfolio companies going. "Cash is no longer the plentiful commodity we once enjoyed," Mr. Terry, who will be based in Battery's San Mateo office, said in an interview. "The idea is that I will be able to get in very early -- 12 months ahead of the actual fund-raising process -- and work with companies to best position them. ... I'll also be working with funding sources to see where they got burned and where they're excited to best match them with our portfolio companies." The new position is the latest in a string of hires by Battery over the past couple of years in an effort to provide pockets of expertise to allow the general partners to focus on strategic issues. Among the firm's other specialty venture partners are two in marketing and one in executive recruitment. Battery has more than 60 portfolio companies. The firm's investments include Akamai Technologies Inc., Arbor Networks, Storigen, Looking Glass and others. So far this year, Battery has invested a total of $28 million in seven technology companies. Four of the firm's portfolio companies have been acquired this year, including LIFFE, which was acquired by Euronext last week for $700 million; RiverDelta, acquired by Motorola Inc. for $300 million; Lara Networks, acquired by Cypress Technologies for $255 million; and Altra Energy, which was acquired by Caminus for $65.5 million. Write to Janet Whitman at janet.whitman@dowjones.com
  • 3. CMOCMO Altice Will Rely on Cost Cuts to Make Cablevision Deal Work POLITICS AND POLICYPOLITICS AND POLICY GOP-Written House Benghazi Report Faults Obama Administration on Libya Risk,... HEALTH & WELLNESSHEALTH & WELLNESS When Your Gym Is Your Office FOOD & DRINKFOOD & DRINK Frosted Flakes as Dining Event: Welcome to the Experience Economy WHAT TO READ NEXT... Copyright 2014 Dow Jones & Company, Inc. All Rights Reserved This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.