Accel Defies Startup Anxiety With $500 Million European Fund
- Money will target early-stage companies in Europe, Israel
- Firm sees new promise in marketplaces, enterprise software
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Accel, the venture capital firm with offices in the U.S., U.K. and India, has raised a new $500 million fund to invest in European and Israeli startups, the company said Tuesday.
While venture capital investment in the U.S. has been in retreat since late-2015 because of concerns that many tech darlings have been accorded unsustainable valuations, Accel managed to raise its new fund "in weeks, not months," said Harry Nelis, a partner with Accel in London.