Memory management system performance is of increasing importance in today's managed languages. Two lingering sources of overhead are the direct costs of memory allocations and write barriers. This paper introduces allocation folding, an optimization technique where the virtual machine automatically folds multiple memory allocation operations in optimized code together into a single, larger allocation group. An allocation group comprises multiple objects and requires just a single bounds check in a bump-pointer style allocation, rather than a check for each individual object. More importantly, all objects allocated in a single allocation group are guaranteed to be contiguous after allocation and thus exist in the same generation, which makes it possible to statically remove write barriers for reference stores involving objects in the same allocation group. Unlike object inlining, object fusing, and object colocation, allocation folding requires no special connectivity or ownership relation between the objects in an allocation group. We present our analysis algorithm to determine when it is safe to fold allocations together and discuss our implementation in V8, an open-source, production JavaScript virtual machine. We present performance results for the Octane and Kraken benchmark suites and show that allocation folding is a strong performance improvement, even in the presence of some heap fragmentation. Additionally, we use four hand-selected benchmarks JPEGEncoder, NBody, Soft3D, and Textwriter where allocation folding has a large impact.