New Delhi, Jan. 21 -- Accel's paper gains in Amagi Media Labs Ltd narrowed after the cloud software company's shares listed at a 12% discount to the offer price on Wednesday, as the broader market fell on renewed global trade concerns. But the global venture capital firm says it is in for the long term.

Given the choice, Accel would not have sold anything in the initial public offering (IPO), two of its partners told Mint.

"It's a phenomenal software company, with close to 70% gross margin. From an actual perspective, if there was an opportunity for Accel to not sell and hold for a very long time, that would have been great," said Shekhar Kirani, partner at Accel.

"We sold whatever minimum amount that we had to, to meet regulatory guid...