The VC giant, which has backed Lovable, Synthesia and other current prominent European startups, has raised an enlarged $800m fund to invest in early-stage startups across Europe and Israel as part of an overall $3.5bn raise to invest in early-stage startups globally.
Accel, which has offices in Silicon Valley, London and Bangalore, has raised $3.5bn in new funds in total, which is split across four funds.
These are $1.35bn for a global expansion fund, geared to larger early-stage rounds and follow-on investments; $800m for investing in US startups; $800m targeting European and Israeli investments; and $550m placing bets on Indian startups.
Accel said: “These funds support our early-stage strategies in the US, Europe, Israel, and India, while providing additional capital for larger initial investments and follow-ons."
The global VC, which has also backed Anthropic and Cursor, set up its team in London over 25 years ago, and its latest dedicated European and Israel fund marks Accel’s ninth fund of its type. It is bigger than its $650m predecessor fund across Europe and Israel.
