Accel raises $3.05bn

The California-based private equity firm has closed three funds.

Fund name: Accel XV, Accel London VII and Accel Growth Fund VI
Amount raised: $3.05 billion
Stage of fundraising: Final close

Accel has raised a total of $3.05 billion across three funds, according to a recent press release by the firm. The US early-stage vehicle Accel XV has raised $650 million, the early-stage vehicle for Europe and Israel Accel London VII has raised $650 million, while the sixth growth fund, Accel Growth Fund VI, has raised $1.75 billion in commitments.

Capital raised by the funds will be used to invest in technology firms.