Global venture capital firm Accel Partners has held a first and final close for Accel London IV, a $475m investment fund focused on Europe and Israel.
Accel London IV will target growth-stage technology companies in sectors including consumer internet, big data, cloud, SaaS and mobile.
Its total funds under management for Europe and Israel now number close to $2bn.
“The fact that Accel London IV was raised in eight weeks and was significantly over-subscribed is a powerful endorsement of Accel London and the market opportunity in Europe and Israel from our world-class investors,” said Kevin Comolli, partner at Accel London, who opened the Accel London office 13 years ago.
Accel London’s recent investments include QlikTech, Playfish and Kayak, representing an aggregate market capitalisation of over $4bn. Its current portfolio includes Alfresco, Angry Birds (Rovio), Avito, CHECK24, ForgeRock, Gameforge, Hailo, Mind Candy, Showroomprive, Spotify, Supercell, Varonis and Wonga.
Harry Nelis, Partner at Accel London, said, “Europe has a strong talent base, including a growing community of repeat entrepreneurs, whose success, experience and ambition continue to fuel our ecosystem. Innovation and entrepreneurship are thriving in Europe and with technology hubs developing across the region, the next billion-dollar company could emerge from anywhere.”
The Accel London investment team includes Kevin Comolli, Sonali De Rycker, Bruce Golden, Harry Nelis, Philippe Botteri and Michiel Kotting.
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