Good morning, Term Sheet readers.
NEW FUND ALERT: Battery Ventures, a private equity and venture capital investment firm, raised $1.25 billion across two new funds. Battery Ventures XII is an $800 million fund, and Battery Ventures XII Side Fund is a companion vehicle with $450 million to fund larger growth and private equity investments. The firm also promoted Morad Elhafed to general partner.
Battery is stage-agnostic and it will make investments ranging from seed- and...