Accel launches $500m fund to fuel UK start-up growth

Accel London V will be used to invest in the "next generation of entrepreneurs" across the UK, Europe and Israel...

Venture capital firm Accel has today announced the launch of Accel London V; a $500m fund that will invest primarily in the UK’s start-up community.

The fund is intended to “support the next generation of entrepreneurs” across the UK and will also invest in burgeoning business opportunities in Europe and Israel, with a focus on marketplaces, software-as-a-service (SaaS), and next generation infrastructure.

Since launching its London office in 2000, Accel has invested in early to growth-stage businesses across 19 countries in a cross-sector of industries including software infrastructure, cloud computing, SaaS, and financial services.

The VC firm has participated in a number of major funding rounds in UK start-ups – most notably food delivery business Deliveroo, money transfer service WorldRemit, and data analytics start-up Qubit.

Accel claims its London team’s investments generated more than $15bn in exit market value in 2015 alone.

Harry Nelis, partner at Accel London, said: “Entrepreneurship is flourishing everywhere across Europe and Israel; we’ve never seen so many great founders, both gritty and ambitious, come out of the region, and are excited to help them build the next generation of truly great, enduring businesses.”

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