Accel Partners

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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 a venture capital firm. Accel funds companies from inception through the growth stage. The company manages over $8.8 billion from its US offices in Palo Alto, California and San Francisco, California. It has separate operating funds in London,[1] India[2] and China (through a partnership with International Data Group (IDG-Accel)).[3]

Accel has funded more than 300 companies, including Facebook,[4] Slack,[5] Dropbox,[6] Atlassian,[7] Flipkart,[8] Supercell,[9] Spotify,[10] Etsy,[11] Braintree/Venmo,[12] Vox Media,[13] Lynda.com,[14] Qualtrics,[15] DJI,[16] Cloudera,[17] Jet.com[18] and GoFundMe.[19]

History[edit]

In 1983, Accel was founded by Arthur Patterson and Jim Swartz.[20]

In 2000, Accel entered into a joint-venture with Kohlberg Kravis Roberts to form Accel-KKR a technology-focused private equity investment firm focused on control investments of middle-market companies.[21]

In 2001, Accel opened its first London office to invest in European technology companies,[22] focusing on Series A and Series B investments.[23] Its European investments include Avito (acquired by Naspers for $1.2 billion),[24] BlaBlaCar,[25] Deliveroo,[26] 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 X early stage fund, the firm announced a $480 million growth fund in December 2008, focused on growth equity opportunities in information technology, internet, digital media, mobile, networking, software, and services.[27]

In March 2016, Accel raised $2 billion, $500 million for an early stage venture fund and $1.5 billion for a growth investments.[28] In April 2016, Accel raised a separate $500 million fund for investments in Europe and Israel.[29]

Portfolio[edit]

Accel is a venture capital firm that concentrates on the following technology sectors:[30][31]

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

Investments[edit]

Accel specializes in seed, early and growth-stage investments.[32] 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.[33] Examples include Atlassian, DJI and Qualtrics.

Recent exits include:

  • Atlassian: IPO valuation of $4.4 billion in 2015[34]
  • Etsy: IPO valuation of $1.78 billion in 2015[35]
  • Facebook: IPO valuation of $104 billion in 2012[36]
  • Jet: acquired by Walmart for $3.3 billion in 2016[37]
  • Lynda.com: was acquired by LinkedIn at a $1.5 billion valuation in 2015[38]
  • Legendary Pictures: acquired by Wanda Group for $3.5 billion in 2016[39]
  • Supercell: acquired by Softbank for $1.5 billion in 2015 and acquired by Tencent for $8.6 billion in 2016[40]

References[edit]

  1. ^ "Private Equity Week Wire for Tuesday 6/12 - PE HUB". PE HUB. Retrieved 2016-03-04. 
  2. ^ Russell, Jon. "Accel Announces New $305 Million Investment Fund For India". TechCrunch. Retrieved 2016-03-04. 
  3. ^ Mac, Ryan (March 19, 2014). "Accel Partners Raises New Funds Totaling Over $1 Billion As Facebook Investor Jim Breyer Reduces Role". Forbes. 
  4. ^ Levy, Ari. "Accel Facebook Bet Poised to Become Biggest Venture Profit: Tech". Bloomberg.com. Retrieved 2016-08-15. 
  5. ^ Loizos, Connie. "Andrew Braccia's Big Bet on Slack". TechCrunch. Retrieved 2016-08-15. 
  6. ^ "Dropbox - Dropbox Raises $250 Million in Series B Funding". Dropbox. Retrieved 2016-08-15. 
  7. ^ Tam, Pui-Wing. "Accel Invests $60 Million in Atlassian". Retrieved 2016-08-15. 
  8. ^ "Flipkart raises $150m from Accel partners and Tiger Global at $850 million valuation". 2012-01-31. Retrieved 2016-08-15. 
  9. ^ "Supercell is Accel's fastest growing company ever. (And it has a ball pit)". Pando. 2012-11-28. Retrieved 2016-08-15. 
  10. ^ "SPOTIFY: Now It's A $1 Billion Company". Retrieved 2016-08-15. 
  11. ^ Schonfeld, Erick. "Etsy Raises $27 Million; Accel's Jim Breyer Joins Board". TechCrunch. Retrieved 2016-08-15. 
  12. ^ "Mobile Payments Startup Venmo Acquired by Braintree". 2012-08-16. Retrieved 2016-08-15. 
  13. ^ Eldon, Eric. "Why Accel Is Leading A $40M Round In Vox Media, A Digital Content Company (!)". TechCrunch. Retrieved 2016-08-15. 
  14. ^ Empson, Rip. "After 17 Years, Education Platform Lynda.com Raises Its First Round Of Funding, $103M From Accel & Spectrum". TechCrunch. Retrieved 2016-08-15. 
  15. ^ Ha, Anthony. "Qualtrics Raises $70M From Accel And Sequoia: "The Biggest Software Company You Haven't Heard Of"?". TechCrunch. Retrieved 2016-08-15. 
  16. ^ Reuters (2015-05-06). "Chinese Drone Maker DJI Gets $75 Million From Accel Partners". Recode. Retrieved 2016-08-15. 
  17. ^ Wauters, Robin. "Cloudera Raises $5 Million Series A Round For Hadoop Commercialization". TechCrunch. Retrieved 2016-08-15. 
  18. ^ "The Man Who Knows Amazon's Brutal Tactics Better Than Anyone Just Sealed $80 Million In Funding For His New Company". Retrieved 2016-08-15. 
  19. ^ "GoFundMe Gets Undisclosed Funding Led by Accel Partners, TCV | Xconomy". 2015-06-24. Retrieved 2016-08-15. 
  20. ^ "Accel Team Jim Swartz". 
  21. ^ "History of Kohlberg, Kravis, Robert & Co.". 
  22. ^ Kapner, Suzanne (2001-05-30). "U.S. Venture Capital Sees Treasure in Europe". The New York Times. ISSN 0362-4331. Retrieved 2016-08-23. 
  23. ^ Dillet, Romain. "Venture firm Accel just raised a new $500 million European fund". TechCrunch. Retrieved 2016-08-23. 
  24. ^ "Naspers acquires Russia's Avito in $1.2 billion transaction". Retrieved 2016-08-23. 
  25. ^ Rao, Leena. "Accel Leads $10M Round In European Airbnb For Car Ride-Sharing, BlablaCar". TechCrunch. Retrieved 2016-08-23. 
  26. ^ "Deliveroo grabs $25M to bring its premium meal delivery service to more cities". VentureBeat. Retrieved 2016-08-23. 
  27. ^ "Accel closes two funds totaling more than $1B". 
  28. ^ http://www.nytimes.com/2016/03/16/business/dealbook/accel-raises-2-billion-to-invest-in-start-ups.html?_r=0
  29. ^ Dillet, Romain. "Venture firm Accel just raised a new $500 million European fund". TechCrunch. Retrieved 2016-08-11. 
  30. ^ "Accel". www.accel.com. Retrieved 2016-08-12. 
  31. ^ "Accel Partners Teardown". 2016-02-05. Retrieved 2016-08-12. 
  32. ^ "Accel Partners Teardown". 2016-02-05. Retrieved 2016-08-19. 
  33. ^ Loizos, Connie. "Venture firm Accel Partners just raised $2B from its investors". TechCrunch. Retrieved 2016-08-19. 
  34. ^ "The Strategist". www.thestrategist.media. Retrieved 2016-08-18. 
  35. ^ "Etsy prices its IPO at $16 per share, making it worth $1.78 billion". Retrieved 2016-08-18. 
  36. ^ Raice, Shayndi; Das, Anupreeta; Letzing, John (2012-05-18). "Facebook Prices IPO at Record Value". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-18. 
  37. ^ 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. 
  38. ^ "LinkedIn Enters Ed Tech with Lynda.com Acquisition – Its Largest Acquisition Ever". 2015-04-09. Retrieved 2016-08-18. 
  39. ^ "It's Official: China's Wanda Acquires Legendary Entertainment for $3.5 Billion". Retrieved 2016-08-18. 
  40. ^ 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. 

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