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Global VC firm Accel announces $4 bn late-stage fund
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IANS | 22 Jun, 2022
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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