VC firm Accel has held a final close for its sixth European early-stage fund, Accel London VI, 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.
Public pension funds, including the State of Michigan Retirement Systems, backed the previous fund, according to Unquote Data.
Accel will invest in startups across Europe and Israel at the series-A stage.
Accel – Philippe Botteri (partner).
New fund has €25m committed to date and hopes to close in Q1 or Q2 next year
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AIMC recently co-invested in operations management company Davies, which is headquartered in the UK