Venture capital firm Accel announces largest ever fund focused exclusively on AI startups.
Venture capital firm Accel has launched a $1.5 billion fund exclusively focused on AI startups, representing the firm's largest fund dedicated to a single technology sector.
The fund will invest in AI startups across stages, from seed to growth, with particular interest in applications of AI in enterprise software, healthcare, and financial services. Accel has been an early investor in several successful AI companies including UiPath and Grammarly.
"AI is transforming every industry, and we want to back the entrepreneurs building the next generation of AI companies," said Accel's General Partner.
The fund will leverage Accel's global platform to help portfolio companies expand internationally, with dedicated teams in the US, Europe, and Asia.
The launch signals continued venture capital appetite for AI investments despite concerns about valuation bubbles in the sector.
