Venture Capital firm Accel on Tuesday unveiled a new $4 billion global late-stage fund as part of its strategy to double its investment in both existing portfolio businesses and fresh startups.
“This fund is a critical element in our global strategy, and will provide expansion capital to promising companies within our portfolio worldwide, as well as to aspiring companies new to the Accel family.” Accel wrote in their blog post.
The VC firm added, this new global late-stage fund will complement its early-stage and growth-stage funds, even if it remains focused on investments at the seed to Series A stage.
Accel has been a marquee player in the Indian startup ecosystem, especially as an early investor in some of the leading names, including Flipkart, Freshworks, and Swiggy, to name a few.
Accel Bullish about investing in fresh startups even in depressed markets
The blog post mentions, “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. Accel has navigated multiple economic cycles before, across many different regions and industries. Through it all, we have been persistent, steadfast, and energised by the goal of turning emerging technology companies into global enduring businesses, both in good times and bad.”
This interesting development comes at a time when some of Accel’s peers like Tiger Global Management and SoftBank have either slowed their investments in startups or have not announced any new funds, owing to the macroeconomic conditions.
While Accel’s fiercest rivals — SoftBank and Tiger Global Management — are low on capital, it must be a particularly sweet moment for the firm, which now employs around 100 investors (and 200 employees altogether) across offices in San Francisco, Palo Alto, London and Bangalore.
