Accel Partners has completed the closing of Accel London IV, a $475 million fund focused on Europe and Israel. Accel said that the fund was raised with unprecedented speed and demand. Accel London IV will invest in the firm's core areas of expertise, including consumer Internet, big data, cloud, SaaS and mobile.
Accel partner Kevin Comolli said, "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."
Accel's previous funds have invested extensively in Israeli start ups. Recent exits include Amobee, which was sold to SingTel for $321 million in which Accel had a 10% stake. Current investments include online family history company MyHeritage, customer management company Pontis, mobile security company MobileSpaces, personal ads company myThings, transaction management company Correlsense, and gaming app company Dragonplay.
Published by Globes [online], Israel business news - www.globes-online.com - on March 21, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013