TLDR:
- US VC firm Accel raises $650 million fund to invest in Israeli and European startups.
- Fund will focus on early-stage startups in regions with growing tech ecosystems.
American venture capital firm Accel has announced the closure of a $650 million fund that will be dedicated to investing in early-stage startups in Israel and Europe. The company highlights the significant growth of the VC market in these regions, with $66 billion invested in 2023 compared to just $1 billion in 2003. Accel, which has already invested in several successful Israeli startups, aims to partner with exceptional founders and support the next generation of tech talent in areas such as AI, cybersecurity, fintech, and the modern data stack. The fund comes at a time when Europe and Israel are producing a growing number of unicorns and innovative companies, and Accel believes in the potential of these regions to create global, category-defining companies. Partner Harry Nelis expressed the firm’s long-standing commitment to finding and building relationships with founders regardless of their location, emphasizing the deep knowledge and networks the team has cultivated over more than two decades in the region.
