American venture capital firm Accel has raised $650 million to support European and Israeli early-stage startups. This fund is the 8th of its kind that Accel has established in the region.
- Established in 1983 by Arthur Patterson, Jim Swartz, Prashanth Prakash, and Subrata Mitra, Accel is an international venture capital firm that invests in startups globally.
- It opened its London office as a separate fund in 2000. Since then, Accel has invested in more than 200 startups across 20 countries in Europe, including Lithuania, Portugal, Romania, and Serbia, and Israel. Some notable investments include BlaBlaCar, Doctolib, Vinted, UiPath, Monzo, and GoCardless.
- Accel managed to close its eighth fund for the region in just a couple of months, CNBC wrote. Along with the large volume of the fund, this may be a sign of an improving funding environment for tech firms.
- Accel's current 8th fund includes investment tickets ranging from $1 million to $20 million for startups at the seed and Series A stages. Accel aims to allocate these investments to around 30 startups across various sectors, including cybersecurity, enterprise software, and AI.
