Accel raises $475m for Europe and Israel venture fund

Accel's previous Europe- and Israel-focused fund was raised equally quickly, although the VC managed to attract more commitments: Accel London III closed on $525m in 2008, two months after its launch.

Accel's latest fundraising effort stands as one of the largest venture-focused raises in recent months. It just egdges the €350m raised by Index Ventures in June last year for its Early Stage Fund – IV6 vehicle.

Investments
Accel London IV will keep to the firm's previous strategy in Europe and Israel. The fund will invest in early- and growth-stage technology businesses. The specific sub-sectors considered will include consumer internet, big data solutions, cloud services, software-as-a-service (SaaS) and mobile.

Accel's current portfolio in the region includes Angry Birds developer Rovio, Spotify and Wonga.

People
The Accel London investment team includes Kevin Comolli, Sonali De Rycker, Bruce Golden, Harry Nelis, Philippe Botteri and Michiel Kotting.

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• Venture
• Accel Ventures