Battery Ventures raises $3.25B fund betting software companies will survive AI disruption

Global investment firm Battery Ventures raised $3.25 billion — one of its largest funds — as a direct bet that software companies won't be toppled by AI-led disruption. The fund targets software applications, infrastructure software (including AI, developer tools, and cybersecurity), industrial technology, and life sciences. Battery backs Coinbase, Affirm, and Databricks. The contrarian raise comes as over $2 trillion has been wiped from software company valuations in the past year on fears that AI will make traditional SaaS models obsolete. Battery's fund is a wager that the most defensible software companies will adapt and thrive rather than be displaced.

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