Accel launches 100M Big Data Fund 2 for the 2nd Wave of Big Data Startups
Accel Big Data Fund 2 will have a different focus its first big data fund, which focused mainly on the 3 Vs of big data: variety, volume and velocity. The second fund will focus on fourth V, which is end user value.
TechCrunch, Colleen Taylor, June 17, 2013.
... According to venture capital firm Accel Partners, the excitement around the big data space is not set to die down any time soon - it's just about to enter into a new phase.
Accelis announcing that it has dedicated $100 million for a new investment fund called Big Data Fund 2. The fund is the same size as Accel's first big data focused fund, which launched with $100 million back in November 2011.
... Despite the nearly identical name, Accel's Big Data Fund 2 will mark a definite shift in focus from the firm's first big data fund, partner Jake Flomenberg said in a phone call today.
"Over the past few years, we've focused a tremendous amount of attention on what people like to call the 'three Vs' of big data: variety, volume and velocity," he said. "We now believe there is a fourth V, which is end user value, and that hasn't been addressed to the same extent," and that is where Big Data Fund 2 will be focusing the bulk of its investment and attention.
Specifically, Accel believes that "last mile" for big data will be served largely by startups focused on data-driven software, or "DDS." These startups have largely been made possible through the hardware and infrastructure technology innovations that defined big data's first wave, Flomenberg says.
See also 'Last mile' big data startups targeted by $100m fund, ZDnet, June 18, 2013