Accel raises $3.5 billion, sets up four funds to invest in early-stage AI startups globally

Odaily News: Global venture capital firm Accel has announced that it has raised $3.5 billion in new funds for early-stage investments worldwide. A total of four funds were raised, including a global expansion fund of $1.35 billion for larger early-stage rounds and follow-on investments; a U.S. fund and a Europe and Israel fund, each sized at $800 million; and an India fund of $550 million.

Accel partner Harry Nelis said that companies are raising more capital earlier in their lifecycle than ever before, creating opportunities for investors, while the scale of risk remains.

Accel has invested in AI companies such as Anthropic, Cursor, and Perplexity. (bloomberg)