Screw The Downturn. Accel Raises A Cool Billion In New Funds

Twenty five year old venture capital firm Accel Partners is announcing two new funds today that add more than $1 billion to their war chest: Accel Growth Fund at $480 million and Accel London III at $525 million.

The Growth Fund will focus on later stage investments information technology, internet, digital media, mobile, networking, software, and services. The London fund will continue to invest in early and late stage European and Israeli startups.

Accel has over $6 billion under management. The firm’s current and past portfolio includes Baidu, Brightcove, Comscore, Etsy, Facebook,, Zimbra and dozens of other startups. Accel has offices in Palo Alto, London and Bangalore as well as in China via a IDG-Accel Partnership.

If you want some of that new money, start here.