PALO ALTO, Calif. and LONDON, Dec. 11 /PRNewswire/ -- Accel Partners, a
leading global venture capital firm, today announced the closing of two new
funds, Accel Growth Fund at $480 million and Accel London III at $525 million.
"We're very pleased with the support of our long-time investors in these
unique economic times," said Jim Breyer, Partner at Accel, "and this milestone
represents a continued validation of Accel's strategy to back the leading
technology and media companies globally, from inception through growth."
Accel Growth Fund represents an important extension to the Accel Palo Alto
team's twenty-five year old venture capital practice. The fund will focus on
growth equity opportunities across a broad range of sectors, including:
information technology, internet, digital media, mobile, networking, software,
and services. As with Accel's early-stage efforts, Accel Growth Fund will play
an active role in helping entrepreneurs and management teams build
category-defining, global businesses.
"We are excited to expand Accel's early-stage efforts to now include
investments in attractive, growing businesses across all stages of the private
company life cycle," said Theresia Gouw Ranzetta, Partner at Accel.
The Accel Growth Fund will be managed by Andrew Braccia, Jim Breyer, Kevin
Efrusy, Sameer Gandhi, Ping Li, Arthur Patterson, Theresia Gouw Ranzetta, Jim
Swartz, Peter Wagner, and Rich Wong, the same partners from Accel's most
recent early-stage partnership, Accel X.
Accel London III will continue to invest in early stage and growth
companies across Europe and Israel in Accel's historical sectors of expertise,
including information technology, internet, software, media, mobile, and
"We are proud to have earned the support of our industry's elite
investors," said Kevin Comolli, Partner at Accel London. "The successful
raising of Accel London III is a tribute to the quality of our team and
portfolio, the huge market opportunity in the region and the distinctiveness
of Accel's global approach."
"Accel London is uniquely positioned as the only leading venture firm
operating in Europe with a Silicon Valley heritage and a global footprint,"
said Bruce Golden, Partner at Accel London. "Entrepreneurs who are truly
focused on building defining, standalone public companies, are seeking
investors with the expertise, global network of resources, patience and
ambition to help them achieve their dream of creating the next market leader.
Our mission is essentially to find and support this growing community of
talented entrepreneurs in Europe and Israel."
Accel London has experienced tremendous success working in the European
and Israeli early stage and growth environment, where it has been able to
offer world-class entrepreneurs a combination of Silicon Valley best practice
experience, and intimate knowledge of local investment requirements in Europe
and Israel. A few of Accel London's current investments include Alfresco,
Amobee, Check24, Gameforge, Kayak, Qliktech, Playfish, Super Derivatives, and
Accel London is led by Partners Kevin Comolli, Sonali De Rycker, Bruce
Golden, Harry Nelis, Simon Levene and Kaj-Erik Relander. The team offers a
unique blend of experiences in investment, technology, and management.
About Accel Partners
Founded in 1983, Accel Partners has a long history of excellence and
innovation in the venture capital business and is dedicated to partnering with
outstanding entrepreneurs and management teams to build world-class companies.
Accel today invests globally using dedicated teams and market-specific
strategies for local geographies, with offices in Palo Alto, California;
London, UK; and Bangalore, India; as well as in China via the IDG-Accel
With over $6 billion under management, Accel has helped entrepreneurs
build over 300 successful category-defining companies including: Actuate,
Alfresco, AMCC, Arrowpoint, Baidu, BBN, Brightcove, ComScore, Etsy, Facebook,
Focus Media, Foundry Networks, Gameforge, GlamMedia, Imperva, Infinera,
Interwoven, JBoss, Kayak, Macromedia, metroPCS, Mu Sigma, Polycom/PictureTel,
Portal Software, QlikTech, Rapt, Real Networks, Redback Networks, Riverbed,
Sohu.com, UUNet, Veritas, Walmart.com, Webroot, XenSource, and Zimbra. For
more information, visit the Accel Partners web site at http://www.accel.com.
SOURCE Accel Partners