New Delhi, Jan. 21 -- Global venture capital firm Accel's paper gains in Amagi Media Labs Ltd declined 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.

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 guidelines to make the IPO happen," Rachit Pa...