VC firm Accel Partners raises $2.5 billion for three new funds, likely to exit productivity app Slack
16 March 2019 12:00 AM IST
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.
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