Briefly

Prominent venture capital firm Accel Partners is proposing to cut its $1.4-billion fund in half, providing yet another sign the industry continues to cool from its record fund-raising and investing activity over the last two years. Accel proposes to manage a $700-million fund and hold off investing an additional $700 million until at least late 2003. If approved by its investors, Palo Alto-based Accel’s cutback would be the latest in a series of similar moves among venture firms.