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Accel Partners Raises $94M For Funds

Venture firm Accel Partners has secured $94 million in all for two sidecar funds.

Venture firm Accel Partners has secured $94 million in all for two sidecar funds, Private Equity Hub reports. The early backer of Facebook has raised $59.9 million for Accel Growth Fund II Strategic Partners. It has also raised $33.7 million for Accel XI Strategic Partners, a sidecar for its main early-stage fund Accel XI which had in June closed on $475 million.

Set up in 1983, the company invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London, New Delhi and Bangalore, as well as in China through its partnership with IDG-Accel.

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