Accel raises $5B to back late-stage bets

In Brief

Accel announced connected Tuesday that it raised $5 cardinal in caller superior to backmost late-stage companies.

The venture steadfast told Bloomberg that $4 cardinal volition spell to its late-stage Leaders Fund, for which it hopes to chopped astatine slightest 20 checks, averaging $200 cardinal each. Accel is looking to put successful companies gathering AI-powered technology, with a absorption connected software, hardware, robotics, defence tech, and information halfway infrastructure.

Accel constricted partners besides poured successful $650 million, which volition spell to a “sidecar” fund, Bloomberg reported, allowing the steadfast to summation its investments successful definite companies. 

Accel has backed much than 800 companies to date, including Anthropic, Perplexity, and Lovable. This latest fundraise comes arsenic the steadfast hopes to support up with the AI roar competition.

A spokesperson for Accel did not respond to a petition for comment.

Subscribe for the industry’s biggest tech news