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Accel Partners
Private Ownership
Industry Venture capital
Founded 1983
Headquarters Palo Alto, California, U.S.
Products Venture capital, Growth capital
Website www.accel.com

Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments. The company has offices in Palo Alto, California and San Francisco, California, with additional operating funds in London,[1][2] India[3] and China (through a partnership with International Data Group (IDG-Accel)).[4]

Accel has funded technology companies including Facebook,[5] Slack,[6] Dropbox,[7] Atlassian,[8] Flipkart,[9] Supercell,[10] Spotify,[11] Etsy,[12] Braintree/Venmo,[13] Vox Media,[14] Lynda.com,[15] Qualtrics,[16] DJI,[17] Cloudera,[18] Jet.com[19], GoFundMe,[20] and Vectra Networks Inc.[21].

History[edit]

In 1983, Accel was founded by Arthur Patterson and Jim Swartz.[22] The co-founders developed the firm's "Prepared Mind" investment philosophy based on the Louis Pasteur quote "Chance favors the prepared mind.",[23] which requires "deep focus[24]" and a disciplined and informed approach to investing.[25]

In 2000, Accel entered a joint-venture with Kohlberg Kravis Roberts to form Accel-KKR a technology-focused private equity investment firm focused on control investments in middle-market companies.[26]

In 2001, Accel opened its London office as a separate fund, to invest in European technology companies,[27] focusing on Series A and Series B investments.[28] Its European investments include Avito (acquired by Naspers for $1.2 billion),[29] BlaBlaCar,[30] Deliveroo,[31] Spotify and Supercell (acquired by Tencent for $8.6 billion), among others.

In addition to Accel's continued investments in early-stage startups from the Accel early stage fund, the firm announced a $480 million growth fund in December 2008, focused on growth equity opportunities in information technology, the internet, digital media, mobile, networking, software, and services.[32]

In March 2016, Accel raised $2 billion, $500 million for an early stage venture fund and $1.5 billion for growth investments.[33] In April 2016, Accel raised a separate $500 million fund for investments in Europe and Israel.[34] In November 2016, Accel's India arm closed its fifth fund with $450 million, about two years after closing its fourth fund with $325 million.[35][36]

Portfolio[edit]

Accel is a venture capital firm that concentrates on the following technology sectors:[37][38]

  • Consumer
  • Infrastructure
  • Media
  • Mobile
  • SaaS
  • Security

Investments[edit]

Accel works with seed, early and growth-stage investments.[39] Its seed and early stage investments include Cloudera, Dropbox, Dropcam, Facebook, Flipkart, Jet.com and Slack. The firm’s growth capital investments focus on more developed companies that require a larger amount of capital to expand their business.[40] Examples include Atlassian, DJI and Qualtrics.

Recent exits include:

  • Arista Networks: IPO valuation of $2.7 billion in 2014[41]
  • Atlassian: IPO valuation of $4.4 billion in 2015[42]
  • Avito: acquired by Naspers for $1.2 billion in 2015[43]
  • Braintree: acquired by Paypal for $800 million in 2013[44]
  • Cloudera: IPO valuation of $2.3 billion in 2017[45]
  • Despegar: IPO valuation of $1.97 billion in 2017[46]
  • Etsy: IPO valuation of $1.78 billion in 2015[47]
  • Facebook: IPO valuation of $104 billion in 2012[48]
  • ForeScout: IPO valuation of $935+ million in 2017[49]
  • Fusion-io: acquired by Sandisk for $1.1 billion in 2014[50]
  • IronPlanet: acquired by Ritchie Bros. for approximately $758.5 million in 2017[51]
  • Jet: acquired by Walmart for $3.3 billion in 2016[52]
  • Krux: acquired by Salesforce for $700 million in 2016[53]
  • Lynda.com: acquired by LinkedIn at a $1.5 billion valuation in 2015[54]
  • Legendary Pictures: acquired by Wanda Group for $3.5 billion in 2016[55]
  • Rovio: IPO valuation of $1 billion in 2017[56]
  • Supercell: acquired by Softbank for $5.5 billion in 2015 and acquired by Tencent for $8.6 billion in 2016[57]
  • Trulia: IPO valuation of $448 million[58] and acquired by Zillow for $3.5 billion in 2014[59]

Geographies[edit]

Accel's US fund is headquartered in Palo Alto, California, with offices in San Francisco, California.[60]Accel's European fund is headquartered in London, England and Accel's India fund is headquartered in Bangalore, India.[61] In addition to the U.S., Accel has investments across in France,[62] Germany,[63] Israel,[64] Australia,[65] New Zealand,[66] Brazil,[67] Canada,[68] China,[69] Finland, India, Switzerland[70] and more.

References[edit]

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  2. ^ "Private Equity Week Wire for Tuesday 6/12 - PE HUB". PE HUB. Retrieved 2016-03-04. 
  3. ^ Russell, Jon. "Accel Announces New $305 Million Investment Fund For India". TechCrunch. Retrieved 2016-03-04. 
  4. ^ Mac, Ryan (March 19, 2014). "Accel Partners Raises New Funds Totaling Over $1 Billion As Facebook Investor Jim Breyer Reduces Role". Forbes. 
  5. ^ Levy, Ari. "Accel Facebook Bet Poised to Become Biggest Venture Profit: Tech". Bloomberg.com. Retrieved 2016-08-15. 
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  13. ^ "Mobile Payments Startup Venmo Acquired by Braintree". 2012-08-16. Retrieved 2016-08-15. 
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  15. ^ Empson, Rip. "After 17 Years, Education Platform Lynda.com Raises Its First Round Of Funding, $103M From Accel & Spectrum". TechCrunch. Retrieved 2016-08-15. 
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  30. ^ Rao, Leena. "Accel Leads $10M Round In European Airbnb For Car Ride-Sharing, BlablaCar". TechCrunch. Retrieved 2016-08-23. 
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  33. ^ https://www.nytimes.com/2016/03/16/business/dealbook/accel-raises-2-billion-to-invest-in-start-ups.html?_r=0
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  41. ^ "Arista Networks IPO values company at about $2.75 billion". Retrieved 2014-06-05. 
  42. ^ "The Strategist". www.thestrategist.media. Retrieved 2016-08-18. 
  43. ^ ChrisSpillane, Ilya Khrennikov Christopher Spillane. "Naspers Takes Control of Russia's Avito in $1.2 Billion Purchase". Bloomberg.com. Retrieved 2016-09-06. 
  44. ^ Rao, Leena; Perez, Sarah; Lunden, Ingrid. "EBay's PayPal Acquires Payments Gateway Braintree For $800M In Cash". TechCrunch. Retrieved 2016-09-06. 
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  49. ^ Barinka, Alex. "Accel-Backed ForeScout Climbs After Raising $116 Million in IPO". Bloomberg. Retrieved 2017-10-27. 
  50. ^ Cao, Jing; King, Ian. "SanDisk to Buy Fusion-io for $1.1 Billion". Bloomberg.com. Retrieved 2016-09-06. 
  51. ^ "Ritchie Bros. Completes Its Acquisition of IronPlanet". Retrieved 2017-05-31. 
  52. ^ Selina_y_wang, Shannon Pettypiece spettypi Selina Wang. "Wal-Mart to Acquire Jet.com for $3.3 Billion to Fight Amazon". Bloomberg.com. Retrieved 2016-08-18. 
  53. ^ "Salesforce Buys Krux, the Data-Management Platform, for $700 Million". Retrieved 2016-10-03. 
  54. ^ "LinkedIn Enters Ed Tech with Lynda.com Acquisition – Its Largest Acquisition Ever". 2015-04-09. Retrieved 2016-08-18. 
  55. ^ "It's Official: China's Wanda Acquires Legendary Entertainment for $3.5 Billion". Retrieved 2016-08-18. 
  56. ^ Forsell, Thomas (2017-09-28). "Angry Birds maker Rovio valued at $1 billion in IPO". Reuters. Retrieved 2017-09-28. 
  57. ^ Osawa, Juro; Needleman, Sarah E. (2016-06-21). "Tencent Seals Deal to Buy 'Clash of Clans' Developer Supercell for $8.6 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-18. 
  58. ^ "'A sigh of relief' for Silicon Valley as consumer-Web stock Trulia soars in IPO". Retrieved 2016-09-06. 
  59. ^ Christie, Les (2014-07-28). "Zillow buys Trulia for $3.5 billion". CNNMoney. Retrieved 2016-09-06. 
  60. ^ "Accel". www.accel.com. Retrieved 2016-09-15. 
  61. ^ "Accel". www.accel.com. Retrieved 2016-09-15. 
  62. ^ "Boosting the French Ecosystem, by Philippe Botteri (Accel Partners) - Bonjour la French Tech". 2015-10-15. Retrieved 2016-09-15. 
  63. ^ "Accel Partners is coming to town and here is how you meet them". 2014-07-09. Retrieved 2016-09-15. 
  64. ^ "Accel Partners hires Facebook exec to focus funds on Israel". Geektime. 2016-06-08. Retrieved 2016-09-15. 
  65. ^ "Inside Accel Partners' $US200m search for Australia's next tech titan". 2014-10-07. Retrieved 2016-09-15. 
  66. ^ Ryall, Jenni. "New Zealand startup Xero scores $147 million from Silicon Valley investor". Mashable. Retrieved 2016-09-15. 
  67. ^ Shieber, Jonathan. "Accel Renews Commitment To Brazilian Startups With $10M EduK Investment". TechCrunch. Retrieved 2016-09-15. 
  68. ^ "As Canadian startups grow, local venture capital funding dries up". Retrieved 2016-09-15. 
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  70. ^ "100 Tech Investors Active in the Nordics - Standout Capital". 2014-04-02. Retrieved 2016-09-15. 

External links[edit]

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