Accel is raising $5 billion to back late-stage bets

Accel announced Tuesday that it has raised $5 billion In new capital to support late-stage companies.

the The project company told Bloomberg That $4 billion will go to the Leaders Fund in the final stretch, which it hopes will cut at least 20 checks, averaging $200 million each. Accel looks to invest in companies building AI-driven technology, with a focus on software, hardware, robotics, defense technology and data center infrastructure.

Accel Limited Partners also injected $650 million, which will go into a “side” fund, allowing the company to increase its investments in certain companies, Bloomberg reported.

Accel has supported more than 800 companies to date, including Anthropic, Perplexity, and Lovable. This latest fundraising comes as the company hopes to keep up with the AI ​​boom.

An Accel spokesperson did not respond to a request for comment.