Accel Partners has raised about $94m for two sidecar funds.
These new funds will support Accel Growth Fund II and Accel XI, for which the firm raised $1.35bn last june (read here).
According to a filing with the S.E.C., Accel raised:
– approximately $59.9m for Accel Growth Fund II Strategic Partners LP, a sidecar for its $875m Accel Growth Fund II LP (read here)
– approximately $33.7m for Accel XI Strategic Partners LP, a sidecar for its $475m Accel XI LP (read here)
Through these funds, the venture capital firm will continue to focus on investing in companies working in areas such as Cloud Services & Next Gen Infrastructure, Social Media & Commerce, Gaming As A Service, Consumerization of Software, and Open Mobile, among others.