Accel Partners to Raise $450M European Fund

▤ Summary

According to Bloomberg (read here), global venture capital firm Accel Partners is in the effort of raising a $450m European fund.The investment vehicle, called Accel London IV, will focus on backing companies operating in the IT, software, internet and consumers sectors.A 75% portion of the total amount will be invested in startups and the remaining 25% for later-stage businesses.Founded in 1983, Accel Partners has invested in over 300 companies, including Rovio (Angry Birds), Braintree, Cloudera, ComScore, Dropbox, Etsy, Facebook, Groupon, Imperva, Lookout, Spotify, Trulia, Walmart.com, and Wonga.The firm has offices in Palo Alto, New York City, Bangalore, London and China (via a partnership with IDG).

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