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Business

Global VC firm Accel announces $4 bn late-stage fund

IANS | June 22, 2022 04:42 PM

NEW DELHI: Global VC firm Accel has announced a new $4 billion later-stage fund to provide expansion capital to promising companies within its own portfolio worldwide, as well as other aspiring firms.

Accel set up local teams and establish a deep presence in exciting regions such as Europe (since 2000) and India (since 2008).

The VC firm has a sizable presence in India and has invested in companies like Flipkart (now Walmart-owned), Freshworks, Swiggy, Spinny, Vedantu, Zetwerk, Infra.Market, Moglix, Browserstack and others.

In March this year, Accel announced its seventh India fund with $650 million.

"Our decades-long experience has also taught us the importance of patience and discipline - especially during periods of volatility and change like we are experiencing today, " Accel said in a statement late on Tuesday.

"With that in mind, we are announcing the close of a $4 billion global, later-stage fund. This fund is a critical element in our global strategy, " the firm said.

The $4 billion fund also complements its early-stage and growth-stage funds where "we will stay focused on being the first partner to Seed, Series A, and bootstrapped or lightly-capitalized businesses".

Other companies where Accel has invested in include Atlassian (Sydney), Celonis (Munich), Chainalysis (New York), CrowdStrike (Irvine), Slack (Vancouver), Spotify (Stockholm), UiPath (Bucharest) and dozens more.

"Through this prepared approach, we can strip away competing distractions and focus on helping these exceptional teams build defining companies, " said the VC firm.

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