Accel announced on Tuesday that it has raised $5 billion In fresh capital to support late stage companies.
The venture firm told Bloomberg That $4 billion will go to his late-stage Leaders Fund, for which he expects to cut at least 20 checks, each averaging $200 million. Accel looks to invest in companies creating AI-powered technology with a focus on software, hardware, robotics, defense technology and data center infrastructure.
Bloomberg reported that Accel Ltd. partners also invested $650 million, which will go into a “sidecar” fund, allowing the company to increase its investments in certain companies.
Accel has supported more than 800 companies to date, including Anthropic, Perplexity, and Lovable. This latest fundraise comes as the company hopes to stay afloat in the AI boom competition.
An Excel spokesperson did not respond to a request for comment.
