Global VC firm Accel announces $4 billion late-stage fund
- ByStartupStory | June 23, 2022
The multinational venture capital company Accel on Tuesday unveiled a new $4 billion global late-stage fund as part of its strategy to increase its investment in both existing portfolio businesses and fresh startups. According to the business, “This fund is a vital part of our global strategy and will give expansion funding to promising companies across our portfolio as well as to ambitious new Accel family members.”
Particularly as an early investor in some of the most well-known companies, such as Flipkart, Freshworks, and Swiggy, to mention a few, Accel has been a prominent figure in the Indian startup ecosystem. This intriguing development occurs at a time when some of Accel’s competitors, such as Tiger Global Management and SoftBank, have either halted their startup investments or have not announced any new funds due to the macroeconomic conditions.
“Our decades-long experience has also taught us the value of discipline and patience, particularly during times of instability and upheaval like the ones we are currently experiencing. Accel has successfully navigated numerous economic cycles in a variety of locations and sectors in the past. We have remained tenacious, consistent, and inspired throughout it all by the objective of transforming fledgling technology startups into globally enduring corporations, in both good and terrible times,” the company said.
The $4 billion funds complete its early-stage and growth-stage funds, where “we will stay focused on becoming the first partner to Seed, Series A, and bootstrapped or lightly-capitalized enterprises,” according to its mission statement. Atlassian (Sydney), Celonis (Munich), Chainalysis (New York), CrowdStrike (Irvine), Slack (Vancouver), Spotify (Stockholm), UiPath (Bucharest), and numerous other businesses are among those in which Accel has made investments.
The VC company stated, “Through this planned strategy, we can remove competing distractions and focus on helping these extraordinary teams build defining companies.”
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