This may explain some extraordinary strength today . . .
Internet Leaders Invest in Accel Internet Fund III
PALO ALTO, Calif.--(BUSINESS WIRE)--Dec. 6, 1999--
Corporate Investors Dell, Microsoft, Nortel, Novell, Sun and Walt
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Accel Partners, a leading venture capital firm, today announced the investment by major Internet partners in its Internet Fund III. In addition, the firm announced that, in 1999, Accel has had 11 IPOs that have created an aggregate market capitalization of over $40 billion.
Corporate investors include Dell Computer Corporation (Nasdaq: DELL), Microsoft Corp. (Nasdaq: MSFT), Nortel Networks (NYSE/TSE: NT), Novell, Inc. (Nasdaq: NOVL), Sun Microsystems, Inc., (Nasdaq: SUNW) and The Walt Disney Co. (NYSE: DIS). In addition executives and entrepreneurs from the defining Internet and communications companies have made personal investments in Accel Internet Fund III. These entrepreneurs include founders and executives from companies such as America Online, Inc., Amazon.com, Inc., Cisco Systems, Inc., CNET, Inc., eBay, Inc., Excite/@Home, Intel Corp., RealNetworks, Inc., and Yahoo, Inc.
Accel Partners has a history of excellence and innovation in the venture capital business. In the 11 companies that have completed IPOs in 1999, and created $40 billion of market capitalization, Accel invested $56 million, which is worth over $5 billion today. Notable public offerings in 1999 include Agile Software (Nasdaq: AGIL), Foundry Networks (Nasdaq: FDRY), Northpoint Communications (Nasdaq: NPNT), HearMe (Nasdaq: HEAR), Portal Software (Nasdaq: PRSF) and Redback Networks (Nasdaq: RBAK). In addition, current portfolio companies such as RealNetworks (Nasdaq: RNWK) have increased over 750% in 1999.
"Our strategy over many years has been focused on the goal of helping entrepreneurs build enduring world-class companies," said Jim Breyer, Accel's Managing Partner. "Young Internet companies have a short time to reach 'escape velocity' from their competition. These deep relationships will greatly accelerate the opportunities of our entrepreneurs."
"Accel has a truly outstanding track record of investing in and helping to grow companies," said Michael Dell, Chairman and CEO of Dell Computer Corporation.
"Accel brings many resources to fast growing companies -- not the least of which is a premier network of strategic relationships," said Rob Glaser, Chairman and Chief Executive Officer of RealNetworks. "Accel's Internet Fund embodies this principle -- uniquely bringing together industry-leading corporations, Internet pioneers and the best and brightest entrepreneurs."
About Accel Partners
Founded in 1984, Accel Partners has a history of excellence and innovation in the venture capital business. The firm is dedicated to partnering with outstanding management teams to build world-class Internet and communications companies. With over $1.4 billion under management, Accel has a long legacy of helping entrepreneurs build highly successful companies. For more information, visit the Accel Partners web site at www.accel.com.
CONTACT:
Accel Partners
Jim Breyer, 650/614-4800
jbreyer@accel.com
www.accel.com |
