Accel announced on Tuesday that it raised $5 billion in fresh capital to back late-stage companies.
The venture firm told Bloomberg that $4 billion will go to its late-stage Leaders Fund, for which it hopes to cut at least 20 checks, averaging $200 million each. Accel is looking to invest in companies building AI-powered technology, with a focus on software, hardware, robotics, defense tech, and data center infrastructure.
Originally reported by TechCrunch
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