Accel Plans To Raise $2B In New Funds This Year

Jim Breyer

Leading VC firm Accel Partners is trying to raise four new funds with a value of $2 billion this year, according to a report in the Wall Street Journal. Two of the funds will focus on growth companies and early-stage ventures, and two on China.

Accel has big investments in Facebook and Groupon, both of which are expected to have huge IPOs within the next 18 months, and has had some big sales of portfolio companies, including AdMob to Google for $750 million in 2009 and to Amazon for $545 million last December.

This track record should give Accel a shot at raising the huge new funds at a time when many big institutional investors are pulling back from Internet investments.

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