Accel closes sixth European fund on $575m

It will follow the same strategy as its predecessor, Accel London V, which raised €500m in 2016 to invest in early-stage European and Israeli startups. 

The raise brings Accel's AUM in Europe to $3bn.

Investors
Public pension funds, including the State of Michigan Retirement Systems, backed the previous fund, according to Unquote Data.

Investments
Accel will invest in startups across Europe and Israel at the series-A stage.

People
Accel – Philippe Botteri (partner).

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