Accel announced raising $5 billion on Tuesday to support late-stage companies. The venture firm informed Bloomberg that $4 billion will be allocated to its late-stage Leaders Fund, aiming for at least 20 investments, with each averaging $200 million. Accel plans to focus on AI-powered technology companies in software, hardware, robotics, defense tech, and data center infrastructure.
Additionally, Accel’s limited partners contributed $650 million to a “sidecar” fund, allowing the firm to expand investments in certain companies, according to Bloomberg.
Accel has supported over 800 companies, including Anthropic, Perplexity, and Lovable. This fundraising comes as the firm seeks to compete in the growing AI landscape.
A spokesperson for Accel did not comment when asked.