Accel Leaders Fund II L.P.
Accel · adviser of record: Accel Management CO. Inc. · 2019 vintage
Accel Leaders Fund II L.P. is a 2019 venture fund managed by Accel, with $500mm raised (Form D, amount sold). It reported $480mm in gross assets at year-end 2025, 0.96x its size, against a peak of $811mm in 2020.
- Latest value held
- $480mm year-end 2025
- Peak
- $811mm year-end 2020
- Fund size
- $500mm Form D, amount sold
- Held vs. size
- 0.96x peak 1.62x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $480mm | 0.96x | -25% over 2 yrs |
| 2023 | $642mm | 1.28x | +0% |
| 2022 | $642mm | 1.28x | -21% over 2 yrs |
| 2020 | $811mm | 1.62x | +65% |
| 2019 | $491mm | 0.98x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| Michigan SMIB | 2025-12-31 | – | – | – | $8.5mm |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
What registered funds report
| Holder | As of | Value of stake | Value ÷ cost |
|---|---|---|---|
| FS MVP Private Markets Fund | 2026-06-30 | $58k | 0.98x |
From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.
Other funds from Accel
- Accel XVI L.P. 2023
- Accel Leaders 4 Investors (2022) L.P. 2023
- Accel XVI Investors (2024) L.L.C. 2023
- Accel India VI Investors (2019) L.L.C. 2023
- Accel Leaders 4 L.P. 2022
- Accel India VII L.P. 2022
- Accel Growth Fund VI Investors (2021) L.P. 2022
- Accel XV Investors (2021) L.L.C. 2022
- Accel India VII Investors (2022) L.L.C. 2022
- Accel London VII L.P. 2021
- Accel London VII Investors (2021) L.P. 2021
- Accel London VI Investors (2020) L.P. 2021
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-8104910589. Data updated October 13, 2026.
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