Battery Ventures Nears Fund Close

Expect that Battery Ventures will announce a final close on its ninth fund within a week or two.

I spoke to several of its LPs yesterday, who say they believe it’s effectively closed, but have not yet received formal notification. Another LP emails this morning to say that a second, and final, close is slated for this week. He adds that the firm appears to have stuck to its $750 million target, rather than succomb to the temptations borne of oversubscription.

[Update: Battery has closed in $710m so far, with the other $40 to be hard circled later this week]

Battery raised $750 million for its eighth fund in 2007, and later added a $250 million “overage” fund (very little of which was called).

In other Battery news, Israeli venture partner Avi Domoshevizki is leaving to form his own firm. He plans to retain his Battery board seats at least through the end of 2010.