Accel Partners closes $520m Accel X fund

Accel Partners has closed its latest fund, Accel X, on $520m. The fund will be invested over roughly a three-year time frame. Early-stage companies across a broad range of information technology, internet, digital media, mobile, networking and enterprise software subsectors will be targeted.

Accel was established in 1983 with offices in Palo Alto and London, as well as in China via the IDG-Accel partnership. Accel has also partnered with Kohlberg Kravis Roberts & Co to create the Accel-KKR fund for technology management buyouts. The company has more than $4bn under management.

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