By Dan Primack
January 12, 2011

Accel Partners is about to become the latest venture capital firm to open shop in New York City.

The Palo Alto-based firm is expected to announce a Union Square satellite later this morning, joining other existing Accel offices in Bangalore, Beijing, London, New Delhi and Shanghai.

Accel has not yet decided whether or not to hire any full-time staffers in New York. Instead, it will feature a rotating cast of Accel partners from other offices. This includes partner Jim Breyer, who is expected to split his time evenly between New York and Silicon Valley, and partner Theresia Gouw Ranzetta, whose portfolio of companies include New York-based Glam Media.

Accel investments in the New York area include Glam, Diapers.com-Quidsi, Etsy, Squarespace, Collective Media, Learnvest, Bonobos, Bauble Bar, VenMo and Exclusivity.in.

Worth noting that this is a homecoming, of sorts, for Accel, which was founded 28 years ago in neighboring New Jersey.

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