SOURCE: Battery Ventures

Battery Ventures

October 02, 2015 07:00 ET

Russell Fleischer Promoted to General Partner, Morad Elhafed to Partner at Battery Ventures

New Roles Highlight Battery's Continuing Focus on Software

BOSTON, MA--(Marketwired - Oct 2, 2015) - Russell Fleischer, a longtime technology-industry operator and CEO, and Morad Elhafed, a seasoned software dealmaker, have been promoted to new roles at Battery Ventures, a global investment firm.

Fleischer, who previously was a Battery partner and, earlier, an "executive in residence" at the firm, becomes a general partner; Elhafed, formerly a principal, becomes a partner.

In these positions, both will continue to play leadership roles on the firm's investing team, scouting new, later-stage and private-equity opportunities in various segments of the software industry. Battery invests broadly across investment stages, from seed to venture to private equity, and has long maintained a focus on business software.

"I am honored to join the GP ranks at Battery, a firm I've always trusted and respected -- both as an outside, industry executive and, more recently, as an internal team member," said Fleischer, who earlier in his career served as the CEO of both HighJump Software, a supply-chain management software firm, and Healthvision Solutions, which made software and services for the healthcare industry. Both were Battery investments before being acquired. He also was the CEO of TriSyn Group, a banking applications-software provider, and has served as a board director for both public and private companies.

Since joining Battery as a partner in 2014, Fleischer worked closely on Battery's acquisition of Enviance, a provider of cloud-based software for managing companies' environmental, health and safety compliance, and Enviance's add-on purchase of Remedy Interactive. He also assisted with Battery's acquisition of a video-analytics and physical-security business formerly owned by NICE Systems. In addition, Fleischer has been focused on developing new talent for Battery, both inside the firm and at portfolio companies. Fleischer earned a BA in economics from Johns Hopkins University and an MBA from Vanderbilt.

Elhafed has been at Battery for seven years and focuses on growth and private-equity software investments in the U.S. and Europe. He was involved with Battery's investment in French software company Neolane prior to its acquisition by Adobe and with portfolio company Vero Software, of the U.K., before its acquisition by Hexagon AB of Sweden last year.

Elhafed also has been active with Battery investments IHS GmbH, a German company making technology for the hospitality industry; CrunchTime!, a Boston-based restaurant-software company; ERP-software provider Forterro, formerly known as Jeeves Information Systems; application-platform company Mendix, based in Boston and with offices in the Netherlands; and SingleHop, a Chicago cloud-hosting provider. Prior to joining Battery, Elhafed worked in the technology investment-banking practice at RBC Capital Markets. He holds a degree in business from the Ross School of Business at the University of Michigan.

"I've spent the bulk of my working life at Battery, and I could not feel luckier to work alongside so many talented people as we continue to expand our business-software portfolio," Elhafed said. "I am excited to begin this new chapter of my career."

Added Scott Tobin, a Battery general partner: "Both Russ and Morad have distinguished themselves over the years as extremely thoughtful investors and valued contributors to the Battery team, particularly as we grow our later-stage, software-investment practice globally. I could not be more thrilled about their promotions."

Through the second quarter of 2015, more than 50% of the investments in Battery's latest funds have been software deals.

About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.