Accel Said to Seek $450 Million for Europe Venture Fund
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Accel Partners, the investment firm that backed Facebook Inc. and Groupon Inc., is seeking $450 million for its next European venture-capital fund, according to two people familiar with the matter.
Accel London IV LP expects to hold a first and final close by March, said the people, who asked not be identified because the plans are private. The amount sought is less than the $525 million the firm gathered from investors for its prior fund in 2008. Rich Wong, a partner at Palo Alto, California-based Accel, declined to comment on the fundraising.