Venture capital firm Accel raises over $3 billion for three new funds

BARCELONA (Reuters) – Venture capital firm Accel has raised more than $3 billion across three new investment funds to back companies in the United States, Europe and Israel, it said on Tuesday.

The opening of the funds – a $650 million European and Israeli early-stage fund, a $650 million U.S. early-stage fund, and a $1.8 billion growth fund – follows the announcement of a $2.3 billion global later-stage vehicle last December.

“There’s an amazing golden age that’s happening in the European startup scene,” Accel partner Richard Wong said in an interview. “I think you have entrepreneurs that oftentimes are trained or educated not just in their home country but externally, so they have a global mindset.”

Since 2019, 10 companies Accel invested in have gone public, including Slack, Bumble, UiPath, CrowdStrike and Deliveroo.

UiPath floated in April and is currently valued at above $40 billion.

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