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Battery Ventures promotes two for tech investing

The firm made the promotions as part of its efforts to grow its later-stage software investments.

Battery Ventures, a Menlo Park-based venture and private equity firm, has promoted Russell Fleischer to general partner to play a key leadership role in the firm’s investing team.

Fleischer was initially an executive-in-residence at the software investment firm and was promoted to partner from October 2014, according to his LinkedIn profile.

Prior to that, he was CEO of Battery’s portfolio company HighJump Software, which the firm bought in 2008 from 3M and exited in 2014 by selling it to Accellos Software.

Morad Elhafed was promoted to partner. He will help lead the Battery investing team, focusing on growth and private equity software investments in the US and Europe.

Alicia Halatsis, spokeswoman for Battery, told PEI that Elhafed's role in the two regions will play a key role in growing the firm's later-stage software investments there.

Battery general partner Scott Tobin said in a statement that the promotions come as the firm seeks to grow its later-stage, software-investment activities globally.

Battery manages $4.7 billion in assets and is based in Boston, according to PEI’s Research & Analytics division. It invests globally from its offices in Boston, California and Israel in companies in both seed and later stages in the tech sector, Halatsis said.

The firm’s private equity investments target companies with $20 million to $200 million in sales and less than $25 million EBITDA.