Big Changes at Battery Ventures
A bunch of changes over at Battery Ventures: Mark Sherman and Battery have “come to the mutual conclusion” that Sherman will leave the firm once the new investment period of Battery VIII is concluded. That apparently will be at the end of Q1 2010, which means that new blue books might be out before year-end (seems a bit fast to me -- considering that the firm raised $1 billion in 07/08 -- but this is straight from a firm spokeswoman). Sherman had been part of the firm’s push into India, but that now will be scaled back significantly. Battery will no longer build a team in Mumbai, instead focusing on India investments out of Silicon Valley. Guatam Patel, currently Battery’s sole employee in Mumbai, will leave to “seek other opportunities.” That move also is expected to occur at the end of Q1 2010.
