Facebook backer Accel Partners closes $475 million fund
SAN FRANCISCO (Reuters) - Accel, the venture capital firm behind social network Facebook, has closed a new $475 million fund, the firm said on Thursday.
Accel London IV will invest in early- and growth-stage companies in the consumer Internet, big data, cloud, software and mobile sectors, the firm said.
Accel London's current portfolio includes companies such as Rovio, the Finnish developer behind the popular Angry Birds game, and Wonga, the British consumer-lending site.
Accel's last big funds include Accel Growth Fund II, an $875 million vehicle that closed in June 2011, and Accel XI, a $475 million vehicle that also closed in June 2011.
The firm said the latest fund was raised in 8 weeks.
(Reporting by Sarah McBride; Editing by Dan Grebler)
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Uruguay becomes first country to legalize marijuana trade
- Pope Francis named Time's Person of the Year
- Thousands of South Africans line up to see Mandela lie in state |
- China bitcoin arbitrage ends as traders work around capital controls