Does Accel Have a New Facebook Fund?

According to Nicholas Carlson, Accel partners, one of the initial investors in Facebook, just close a $1 billion round, $480 million of which is going toward a new “Growth Fund”, for late-stage companies. While Facebook says that they have plenty of money in the bank, many have been speculating about the company’s cash position stating that the cost of growth has been extremely costly forcing them to raise another round.

Mike Arrington suggested that this was the reason behind a recent trip to Dubai by Gideo Yu of Facebook but Mark Zuckerberg later stated at Web 2.0