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Update: Accel raising up to $2.53B across 3 venture capital funds

Accel is raising up to approximately $2.53 billion across three venture capital funds.

The California-headquartered venture capital firm, which also has offices overseas, already pulled in $525.0 million for Accel XIV LP and $500.0 million for Accel Leaders Fund II LP. It is also raising $1.50 billion for Accel Growth Fund V LP, which has attracted 168 investors so far, according to separate SEC filings March 15.

The firm will use the funds to back technology startups, Bloomberg News reported March 14, citing a person with knowledge of the matter.

Accel seeks to invest in information technology, cloud computing, storage technologies and infrastructure, among other sectors, according to S&P Global Market Intelligence data.