{"id":6651,"date":"2019-05-20T07:52:00","date_gmt":"2019-05-20T07:52:00","guid":{"rendered":"https:\/\/fintech.global\/digitalwealthtechforum\/?p=6651"},"modified":"2019-05-20T07:52:00","modified_gmt":"2019-05-20T07:52:00","slug":"accel-raises-575m-fund-to-back-european-israeli-startups","status":"publish","type":"post","link":"https:\/\/fintech.global\/digitalwealthtechforum\/accel-raises-575m-fund-to-back-european-israeli-startups\/","title":{"rendered":"Accel raises $575m fund to back European, Israeli startups"},"content":{"rendered":"

Global venture capital firm Accel has raised $575m for its sixth early-stage fund focused on European and Israeli startups.<\/strong><\/p>\n

This latest fundraise brings Accel\u2019s funds under management in Europe to $3bn, as it seeks out early-stage deals in the consumer and enterprise sectors.<\/p>\n

The firm had previously raised $500m for the fund\u2019s predecessor, Accel London V, in April 2016.<\/p>\n

In the past the VC has typically targeted Series A investment rounds, and has backed some Europe\u2019s biggest startup successes such as Deliveroo, DocuSign, Funding Circle and Spotify.<\/p>\n

Accel partner Philippe Botteri said, \u201cThe European technology market has truly come of age, and is home to a vibrant ecosystem of talented entrepreneurs, seasoned executives and an ample supply of capital at all stages.\u201d<\/p>\n

\u201cWhat has struck us is the unprecedented level of activity across the region: exceptional teams and ideas are emerging everywhere, not only from the traditional hubs of London, Paris, Berlin and Stockholm but also from the likes of Prague, Milan, Aarhus and Bucharest.<\/p>\n

\u201cEurope\u2019s successes over the last decade are inspiring a new generation of ambitious founders, and the emerging global players are growing faster than ever. It\u2019s a golden time to be an entrepreneur in Europe.\u201d<\/p>\n

Accel launched its London-based operations in 2000 with the aim of exploring new opportunities and partnering with innovative businesses across Europe.<\/p>\n

Accel recently joined a $568m Series D round for UiPath which valued the robotic process automation startup at $7bn.<\/p>\n

The investor also made a recent contribution to the $60m Series C round of AI-powered InsurTech startup Shift Technology. The company delivers technology to improve fraud detection within fraud, by analysing and scoring claims.<\/p>\n

Last month, Accel also contributed to the $10m funding round of derivative analytics platform Open Gamma. The startup delievers data analytics for banks, hedge funds, asset managers, and pension funds to better identify risks.<\/p>\n

In March last year, the firm reportedly raised $2.5bn across a trio of venture capital funds.<\/p>\n","protected":false},"excerpt":{"rendered":"

Global venture capital firm Accel has raised $575m for its sixth early-stage fund focused on European and Israeli startups. This latest fundraise brings Accel\u2019s funds under management in Europe to $3bn, as it seeks out early-stage deals in the consumer and enterprise sectors. The firm had previously raised $500m for the fund\u2019s predecessor, Accel London… <\/p>\n

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