News Summary

• Accel announced on Tuesday that it raised $5 billion in fresh capital to back late-stage companies.
• The venture firm is looking to invest in companies building AI-powered technology, with a focus on software, hardware, robotics, defense tech, and data center infrastructure.
• Accel has backed more than 800 companies to date, including Anthropic, Perplexity, and Lovable.
• This latest fundraise comes as the firm hopes to keep up with the AI boom competition.
• A spokesperson for Accel did not respond to a request for comment.