First read Feb 24
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peHUB First Read

Catch up on the latest midweek happenings including a new IR head for Vector Capital, Florida SBA hiring CalPERS PE officer and some research on the secrets of venture fundraising success.

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Accel backs mobile game developer Industrial Toys

Accel Partners, which is no stranger to the gaming sector, having backed Playfish, Rovio, Supercell and others, has announced it led a $5 million Series A investment in Industrial Toys. This is the first institutional round raised by the Pasadena, Calif.-based company, which is led by CEO Alex Seropian, a video game veteran and former president of Bungie.

Circle Internet Financial closes $17 mln Series B

Circle Internet Financial, a digital currency company has closed $17 million in Series B financing, bringing its total raise to date to $26 million. Breyer Capital, Accel Partners and General Catalyst Partners were joined by new investor Oak Investment Partners to lead the round.

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Redpoint Ventures leads $40 mln round for RelateIQ

According to a company spokesperson, RelateIQ has raised $40 million in Series C funding. Redpoint Ventures led the round with participation from Kleiner Perkins Caufield & Byers and return backers Accel Partners and Formation 8. The funding gives the company a more than $200 million valuation. Headquartered in Palo Alto, Calif., RelateIQ is a provider of solutions that improve business relationships.

Bitcoin startup Circle Internet Financial snags $17 mln

Boston-based bitcoin company Circle Internet Financial said Wednesday that it has raised $17 million in Series B funding. Investors included Breyer Capital, Accel Partners, General Catalyst Partners, Oak Investment Partners, Pantera Capital and Fenway Summer.

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Accel Partners and Redpoint Ventures backs Tactile

Tactile has received $11.2 million in Series A funding. The investors were Accel Partners and Redpoint Ventures. Based in Redwood City, Calif., Tactile is a provider of solutions that empower people in their work lives.

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Top security investors include unexpected names — VCJ

Security investing continues to run at high throttle, affiliated publication VCJ reports. Overall venture dollars committed to security startups dipped slightly last year, but still broke the $1 billion mark, according to data from Thomson Reuters.

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peHUB First Read

Today First Read brings you the winners of the Buyouts deal of the year award, mobile messaging app Tango’s mega Series D round, Apax set to launch an Israel mid-market fund and Accel Partners raising some $1.5 bln in two new funds.

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Accel Partners closes two funds adding up to nearly $1.5 bln

Accel Partners, the Palo Alto, Calif.-based venture firm that was an early investor in Facebook, has closed two news funds totaling $1.475 billion. The firm raised $475 million for its 12th main fund, the same size as Accel XI, which closed in 2011. The firm also raised $1 billion for Accel Growth III, exceeding the $875 million that the firm raised for its second growth fund, which also dates back to 2011, according to Thomson Reuters.

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