This article was published on March 21, 2013

Accel London closes $475m fund, bringing total funds under management for Europe and Israel to $2 billion


Accel London closes $475m fund, bringing total funds under management for Europe and Israel to $2 billion
Robin Wauters
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Robin Wauters

Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

Global VC firm Accel Partners today announced the inaugural and final close of Accel London IV, a $475 million fund focused on Europe and Israel. The fundraising brings Accel’s total funds under management for the region(s) up to $2 billion.

In a press release, Accel Partners boasts that the fund was raised with “unprecedented speed and demand” but didn’t mention any names of investors.

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Kevin Comolli, a partner at Accel who opened the London office 13 years ago, did however say the fund was raised in eight weeks and was “significantly over-subscribed”.

Accel London IV, the firm says, will continue to invest in early and growth-stage companies focusing on consumer Internet, big data, cloud, SaaS and mobile.

Current portfolio companies include Rovio, Spotify, Hailo, Supercell, Avito and Wonga. Previous exits include Playfish, Kayak and QlikTech.

Also read:

Europe loses another VC: Adam Valkin leaves Accel for General Catalyst, London for Boston

Global Founders: A new stage-agnostic $194m fund from 2 Samwers, 1 Siegel

Top image credit: ERNESTO BENAVIDES for AFP / Getty Images