Thursday, December 11, 2008
Accel Partners Raises $1 Billion in “Unique Economic Times”
Bucking a trend of contraction in the venture industry, Accel Partners today announced that it had raised two funds totaling $1 billion.
The well-known VC firm said that it had closed the $480 million Accel Growth Fund and the $525 million Accel London III.
The first will be managed from its Palo Alto, Calif., HQ, focusing on “growth equity” across several sectors, while the London fund will be managed there and aim to invest in early-stage and growth companies across Europe and Israel.
