/// Accel Launches Second $100 Million Big Data Fund
This whole big data idea had better be real because there’s a lot of money beging invested in it. The latest is coming from Accel Partners, which will on Tuesday announce that it has raised its second $100 million Big Data Fund, formally named Big Data Fund 2. Led by Accel’s Pin Li (pictured), the firm announced that it has added two executives, Anthony Deighton, the CTO of Qlikview and Shlomo Kramer, the CEO of data security startup Imperva and the co-founder of Check Point Security to seats on its Big Data Fund Advisory Council. I talked with Li on Monday, and he told me that the target with this fund — the first was launched to invest in companies working primarily in the Hadoop ecosystem — is to fund companies working on what he calls “data driven software.” If the first wave of big data investment was about building platforms that from the foundation, this wave will be about building the software that actually helps reach the promise of big data. That promise is extracting valuable information that actually helps improve a business, and so far it’s a pretty tall order.
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Accel Launches Second $100 Million Big Data Fund