Accel Partners yesterday closed a €367 Million fund to focus on Europe and Israel. With Accel London IV, the firm will invest in early-stage and growth stage companies in the consumer Internet, big data, cloud, SaaS and mobile.
The Nordics are a big focus of Accel’s new fund, as they seek to focus on their success with Rovio, Supercell, Spotify, and QlikTech, whose listing on NASDAQ resulted in a return of over $400 million to the Accel fund – one of the largest venture returns in Europe.
Sonali De Rycker, Partner at Accel London, said, “The Nordics has and continues to be a very important investment area for Accel. It has a vibrant start-up ecosystem that has produced a number of world-beating companies, including QlikTech. This legacy continues with companies like ForgeRock, Rovio, Spotify and Supercell, and this new fund allows us to continue to partner with the most innovative, ambitious companies in the region.”
Accel’s main offices are located in Palo Alto, but has local offices in London, New York, Bangalor, and in China. They’ve been able to throw money behind a number of huge digital properties, including Facebook, Atlassian, Cloudera, ComScore, Dropbox, Rovio, Groupon, Kayak, Playfish, QlikTech, Spotify, and Wonga.
Accel London boasts an aggregate market cap of over $4 billion. Their investment team includes Kevin Comolli, Sonali De Rycker, Bruce Golden, Harry Nelis, Philippe Botteri and Michiel Kotting.
