Raising Finance

$500m European fund from VC firm Accel has special UK investment focus

2 min read

12 April 2016

Former deputy editor

Venture capital firm Accel has revealed a new $500m fund that will back entrepreneurs across Europe and Israel, while the UK has been named a “priority market for investment”.

Having established a presence in the UK capital with the launch of its London office 16 years ago, Accel had a plan to partner “extraordinary entrepreneurs, who have the ambition to build category-defining businesses”.

2015 alone saw the London team’s investments generate over $15bn in exit market value alone. One of its most successful accomplishments over the past 12 months include Finnish Clash of Clans maker Supercell securing an exit with a sale to SoftBank.

Its existing British business investments include Deliveroo and Funding Circle, while it’s also backed French ride-sharing platform BlaBlaCar and German comparison service Check24.

Companies across 19 countries have secured backing from Accel to date. The VC firm targets a variety of technology markets, including mobile, fintech, cloud, SaaS, security and so on.

Read more on new funding developments:

Harry Nelis, partner at Accel London, said: “Entrepreneurship is flourishing everywhere across Europe and Israel; we’ve never seen so many great founders, both gritty and ambitious, come out of the region, and are excited to help them build the next generation of truly great, enduring businesses.”

Accel revealed its current funds under management in Europe and Israel are at $2.5bn. The new Accel London V fund will concentrate on early stage and growth investments, with marketplaces, SaaS and new infrastructure businesses of particular interest.

“We are grateful to be backed by many of the world’s best institutions, including premier endowments, pension funds and research institutes, and will continue to work hard to generate superior returns so that they too may be successful in serving their communities,” added Nelis.

VC firms are snatching up headlines by the handful when it comes to investments, but Angel CoFund provided us with exclusive access to numbers that show UK angels are providing a stairway to entrepreneurial heaven.

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