Robinhood faces $ 35 million fine from New York DFS
Based in Palo Alto, California, Accelerate has been around since 1983. It was founded by Arthur Patterson and Jim Swartz, two visionary investors who believe in a “prepared mind” approach to the industry – referencing a quote attributed to Louis Pasteur, “Chance favors l mind prepared. As such, the company combines preparation with a sense of opportunity.
Over the years, Accel has built a solid stable of technology investments including Facebook, Dropbox, Spotify, Etsy, Venmo, UiPath, and GoFundMe. Obviously, the company has an eye for talent and its pace doesn’t seem to be slowing down.
Its latest $ 3.05 billion fundraising campaign breaks down as follows:
- $ 650 million for its 15th US start-up fund
- $ 650 million for its seventh European and Israeli start-up fund
- $ 1.75 billion for its sixth growth fund
“We are once again grateful for the support shown by our sponsors, many of whom have been with us for almost forty years,” noted Accel.
“These partners, which include many large foundations, academic foundations and research institutes, fund charitable purposes and do vital and groundbreaking work to advance important social and scientific causes. In these difficult times, work is more important than ever. It gives us the energy to participate in their efforts.
Breaking down geographic boundaries
One of the most striking things about Accel’s portfolio is its geographic reach: from Canada to California, Romania and India. The company is dedicated to locating innovation wherever it may be found, “today’s exceptional founders are not bound by geography in the pursuit and realization of their visions,” he said .
This certainly fits with popular opinion in the VC world; in our article ”A change in venture capital culture democratizes investing in 2021‘, Manuel Silva Martínez, general partner at Capital Mouro, suggested that there would soon no longer be a ‘London stage’ or ‘San Francisco stage’, ‘which is great news for small ecosystems traditionally underserved by capital, but it will make competition much fiercer venture capital ”.
However, competition is rarely a bad thing for a good business. As technology companies continue to break down the geographic boundaries that hinder their international growth, we can certainly expect increased connection, integration and inclusion for customers globally.
Image source: Accel