VC firm Accel Partners raises $2.5 billion for three new funds, likely to exit productivity app Slack
Venture capital firm Accel Partners will allocate capital to three new funds called Accel XIV LP, Accel Leaders Fund II LP, and Accel Growth Fund V LP. The firm had recently exited hotel booking platform HotelTonight through a buyout by accommodation sharing company Airbnb.
- Out of .5 billion, Accel has raised 5 million for Accel XIV LP, which is the firm’s 14th venture fund and also the largest flagship fund it has raised so far.
- One of the world’s most prolific venture capital firms Accel Partners, which manages more than $1 billion worth assets under management in India, has raised more than $2.5 billion to back startups.
- Another fund called Accel Growth Fund V LP, Accel’s fifth growth-stage fund, has raised $1.5 billion from 168 investors.
- Founded in 1983, Accel has made 1, 256 investments and has raised $11.7 billion for its 23 funds so far.