Global venture capital firm Accel casually rolled out a new $ 4 billion later-stage fund by announcing it on a blog post. The 40-year-old seasoned VC firm has announced the new funds to provide impetus to promising startups within its portfolio and other aspiring ones that have already closed a few deals earlier.
Accel has established itself as a global VC firm by cementing its presence in Europe since 2000 and in India from 2008 onward through its regional centers. The firm has the most promising startups from India under its portfolio, the likes of Flipkart (acquired by Walmart). It also has several Indian unicorns in its portfolio, including Vedantu, Acko insurance, Freshworks, Swiggy and more.
The firm will now leverage these regional centers to focus on late-stage investments using the latest funds for startups it has been nurturing from the startup’s nascent stages, especially in India and Europe.
The fund critical to Accel’s global strategy will provide expansion capital to promising companies
In the blog post, the VC firm said, “Accel has navigated multiple economic cycles before, across many different regions and industries. Through it all, we have been persistent, steadfast, and energized by the goal of turning emerging technology companies into enduring global businesses, both in good times and bad.”
As far as the new funding is concerned, the company makes it clear that this capital raise is critical in Accel’s global strategy. The company statement read that the new fund will complement their early-stage and growth-stage funds, where the VC firm will stay focused on being the first partner to Seed, Series A, and bootstrapped or lightly-capitalized businesses.
Accel has navigated multiple economic cycles across many different regions and industries. Through the blog-post Accel said, “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. Through it all, we have been persistent, steadfast, and energized by the goal of turning emerging technology companies into enduring global businesses, both in good times and bad.”