Scoop: Peter Wagner Parts Ways with Accel After Nearly 15 Years


Peter Wagner is leaving Accel Partners after nearly 15 years with the firm, peHUB has learned.

Wagner sent an email to friends on Wednesday (Feb. 23) announcing his departure, but he did not say where he is headed or whether he will continue to invest in tech companies. A peHUB reporter read the email.

Wagner is no longer listed as a partner in the “Investment” section on Accel’s website. Instead, he has been moved to a  section called “Venture Development.”

PeHUB reached out to Wagner through a third party, but did not hear back.

An Accel spokesperson told me Wednesday night that “in his time at Accel, Peter has made many great contributions to the firm, the entrepreneurs he’s backed, and the companies he’s helped to build. We wish him well in his future endeavors.”

Wagner’s LinkedIn profile says he joined Accel in July 1996. Before that, he was a product line manager at Silicon Graphics. At Accel, Wagner has focused on startups and growth-stage companies in cleantech, digital media, virtualization, cloud computing, storage, networking and mobility.

His current investments include Blue Jeans Network (an open video communications service); Broadsoft (a VoIP applications platform); ComplexMedia (a vertical media network); Fusion-io (a provider of enterprise-class Flash-based storage); Nimble Storage (a provider of next generation storage); OPOWER (a SaaS company focused on energy efficiency); and Qwilt (a video network solutions provider).

Wagner’s departure comes roughly a week after peHUB confirmed a Wall Street Journal report that Accel plans to raise four funds this year totaling a combined $2 billion.

Wagner also recently told peHUB affiliate publication Venture Capital Journal that the firm is preparing to boost its participation in the cleantech sector, and he was one of the firm’s partners leading the charge. VCJ subscribers can read the full interview here.