Accel Partners: Exploring SaaS SMB Investments?
Representatives from Accel Partners, a leading venture capital firm, visited the SMB Nation trade show in recent days, according to multiple sources who attended the Las Vegas conference. What attracted Accel to the conference? Glad you asked.
Sources say Accel Partners may launch a venture fund that focuses on SaaS (software as a service) companies targeting small and midsize businesses. Not by coincidence, SMB Nation was packed with SaaS vendors serving VARs and SMB customers — including a heavy emphasis on MSP-centric software companies.
Accel Partners has quite a track record in the venture capital market. Key investments have included Brightcove, Macromedia, Foundry Networks, XenSource — and a social media site called, um, FaceBook.
So, is Accel Partners ready to open its wallet to SaaS companies in the SMB sector? Two sources seemed upbeat about the possibility. But high-tech Venture Capitalists have certainly faced their challenges amid the recession. The VAR Guy placed a call to Accel for comment on Oct. 5, but the call has yet to be returned.