Accel has raised $5bn for a new late-stage fund aimed at supporting high-growth technology companies in the artificial intelligence era.

The fund marks a significant step in Accel’s platform evolution, enabling the firm to deploy capital beyond early-stage investments and support portfolio companies through their scaling phase.

Accel described the current market cycle as an early stage of a broader transformation, with AI reshaping how companies are built and scaled.

The firm’s approach centres on continuity, with the same investment teams working alongside founders from early-stage through to later stages of development. This model has underpinned investments in companies such as Atlassian, CrowdStrike, Flipkart, and Slack.

In addition, Accel continues to back a new generation of technology companies, including Lovable, Vercel, and Cyera, as they navigate the evolving AI landscape.

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