Accel Closes Two Funds

Accel Partners has announced the closing of Accel Growth Fund, an extension of its core venture fund, with $480 million in commitments, and the closing of Accel London III, its Europe and Israel investment fund, with $525 million in commitments. Read more.

December 11, 2008 – Palo Alto and London: 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 communications.
“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 Varonis.
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 Partnership.
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 www.accel.com.