Global private equity and venture capital news and research

Battery Ventures turns to tablets with Charles Jolley hire

24 Apr 2013

Charles Jolley Battery VenturesBattery Ventures has put its faith in the burgeoning tablet computing market by hiring former Facebook mobile platform head of product Charles Jolley as entrepreneur in residence.

The firm believes that as business users go tablet-centric, the workflow and business-critical applications must follow suit and are scrambling to catch up.

Jolley, pictured, who will work in the firm’s Menlo Park office, said, “Demand is exploding as tablets like the iPad Mini fall in price.

“Just like companies had to quickly adapt as employees abandoned their company-issued Blackberries for personal smartphones, they will face a similar challenge as people drop their PCs in lieu of tablets.”

Battery Ventures principal Mike Dauber said, “Few people have spent more time in mobile than Charles, and he is particularly insightful around how users’ adoption of tablets differs from smartphones.

“We’ve been intently watching the rapid move of tablets from fun consumer gadgets to go-to devices in the enterprise, and agree with Gartner’s recent prediction that they will overtake laptops within a few years.

“We have believed for some time that this spells opportunity, and are thrilled to bring Charles on board to help catalyze our work here.”

The move comes a month after Battery Ventures reportedly raised $900m across two separate vehicles.

The firm, which has been an early backer in high-profile businesses such as Groupon and ExactTarget, has raised a $650m vehicle and a separate $250m side fund according to the Wall Street Journal.

It suggests the fund closed amid an internal inter-generational shift has taken place across the firm through a number of retirements – including partner Tom Crotty – and several promotions.

The move marked Battery’s shift to a third-generation management team.

Copyright © 2013 AltAssets

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016