Accel Partners Closes $1.35 Billion In Two Funds
June 16, 2011 at 16:15 PM EDT
Mega funds are back. Accel Partners closed two funds today for a total of $1.35 billion in new capital. The funds are Accel XI, which raised $475 million, and Accel Growth Fund II, which raised $875 million. It took less than two months to raise the $1.35 billion. The fundraising kicked off on April 26, 2011.The firm's last fund, Accel X, was a $520 million fund and closed in 2007