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Venture Capital firm Accel has raised $5 billion in late-stage capital to allocate towards artificial intelligence startups.
Of that $5 billion, $4 billion will be allocated towards 20-25 late-stage investments globally, while $640 million will be used as a sidecar fund for investors to allocate money towards some of the company’s largest investments, Bloomberg reports.
“In our view, this market cycle represents the early phase of a broader transformation. We’ve seen big shifts before, and they tend to build on each other. But the momentum behind AI is entirely new. Markets are refreshing, opportunities are broadening, and the next decade will be one of the most meaningful in modern …
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