Simpson Grierson acts for Accel Partners

Simpson Grierson acts for Accel Partners on its investment in Xero

Simpson Grierson partner Michael Pollard and senior associate Andrew Matthews have acted for US private equity firm Accel Partners on its NZ$132.9 million private placement investment in Xero.

Accel Partners is a leading Silicon Valley venture capital firm, focussing on early and growth stage investments. Xero intends to use the investment to continue to innovate its products and grow the business globally, specifically in the United States and the United Kingdom.

Michael Pollard says: "We're delighted to be involved Accel's first investment into New Zealand. Its investment in Xero will assist the growth and expansion of one of New Zealand's most innovative companies."

ENDS

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