The flagship Accel XIV fund totals $525 million, up from $500 million in 2016. Accel also raised a growth fund of $1.5 billion, up from $1.2 billion, and a $500 million Leaders Fund.
The vehicle is likely to focus on venture investments and will be separate from SoftBank’s huge Vision Fund.
VC funds in the U.S. raised $55.5 billion from investors last year, according to a new report from the National Venture Capital Association and PitchBook—that’s the most since the dot-com era, and far more than last year’s $34 billion.
Ravi Viswanathan said he’s leaving NEA to run the newly hatched operation, called NewView Capital. His mandate was to take startups that were sitting on NEA’s books for a decade or longer and haven’t sold out or gone public.
Son joins a growing list of business leaders who have distanced themselves from the Future Investment Initiative conference, but his move is particularly notable because SoftBank’s $100 billion Vision Fund has a $45 billion commitment from Saudi Arabia’s Public Investment Fund.
Over the past three years through 2017, San Francisco startups won the most investment dollars, $81.8 billion. Beijing startups came close behind at $72.8 billion.
Slack last raised funds in September, when SoftBank Group Corp.’s Vision Fund led a $250 million round that valued the company at about $5 billion.
Arrivo, founded by a former senior engineer at Elon Musk’s Space Exploration Technologies Corp., said it secured a $1 billion credit line with Genertec America Inc., a subsidiary of a Chinese state-owned entity based in Beijing.
Sequoia Capital has raised $6 billion for the global fund, with new investors accounting for a majority of the capital commitments.
The new law would expand the purview of an existing government committee, which reviews deals involving foreign companies and technology that could pose national security threats.