Accel Partners closes two new funds

Printer Print Email Email
Palo Alto: Accel Partners, a global venture capital firm, has announced the closing of two new funds - Accel Growth Fund at $480 million and Accel London III at $525 million. Accel Growth Fund represents an important extension to the Accel Palo Alto team's twenty-five year old venture capital practice. The fund will focus on growth equity opportunities across a broad range of sectors, including: information technology, internet, digital media, mobile, networking, software, and services. As with Accel's early-stage efforts, Accel Growth Fund will play an active role in helping entrepreneurs and management teams build category-defining, global businesses. The Accel Growth Fund will be managed by Andrew Braccia, Jim Breyer, Kevin Efrusy, Sameer Gandhi, Ping Li, Arthur Patterson, Theresia Gouw Ranzetta, Jim Swartz, Peter Wagner, and Rich Wong, the same partners from Accel's most recent early-stage partnership, Accel X. Jim Breyer, Partner at Accel, said, "This milestone represents a continued validation of Accel's strategy to back the leading technology and media companies globally, from inception through growth." Accel London III will continue to invest in early stage and growth companies across Europe and Israel in Accel's historical sectors of expertise, including information technology, internet, software, media, mobile, and communications.