The European and Israeli VC market has been growing rapidly, with investments reaching $66 billion in 2023, compared to $150 billion in the U.S. Accel partner Harry Nelis highlighted that AI is expected to be a major platform shift over the next decade, with London and Paris emerging as hubs for AI development. Accel is known for early investments in companies such as Meta, Dropbox, Deliveroo, Spotify, and Supercell.
Key takeaways:
- Accel has raised a $650 million fund to invest in early-stage companies in Europe and Israel, focusing on artificial intelligence and cybersecurity.
- This will be Accel’s eighth fund since opening its London office in 2000, and it plans to invest in 25 to 30 new companies.
- Accel has previously invested in major companies such as Meta, Dropbox, Deliveroo, Spotify, and Supercell.
- The European and Israeli VC market has been growing rapidly, with investments of $66 billion in 2023 compared to $150 billion in the United States.