Accel Partners raises $520M

Accel Partners today announced it has raised $520 million for its 10th early stage fund.

The Palo Alto, Calif.-based firm plans to invest Accel X over the next three years in information technology, Internet, digital media, mobile, networking and enterprise software subsectors.

The close of the fund comes less than two months after Accel announced it was co-funding a new $10 million vehicle called fbFund with The Founders Fund, which will be administered by Facebook. The fund will invest between $25,000 and $250,000 in startups dedicated to developing Facebook applications. Founders Fund and Accel will then get the right of first refusal for the first round of financing of any company in the fund.

The close of Accel’s 10th fund comes as the firm has had 10 liquidity events over the last year, which includes four portfolio companies that went public and six that were acquired.