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Early - phase rounds continue to account for the majority of investments in the European inauguration market , and on Tuesday one of the biggest firms in the region announced a Modern fund to bolster that trend . Accel has raise $ 650 million to back startup from ejaculate to Series A across the U.K. , the Continent and Israel . The investment firm is the 8th of its kind for Accel since it first put down theme in London in 2000 .
Accel has invested in more than 200 startup in the neighborhood to day of the month , making it one of the more fecund VCs in this securities industry .
One of the fall back laments you hear in Europe is that even if the realm produces exceptional talent and thought , caller on the continent are challenged when it comes to scaling . There have been a number of exception over the age , however , that test that arrogate , and part of Accel ’s soberness as an investor comes from the fact that it ’s been a angel in a turn of them . They include some of the most successful startups to amount out of Europe , such as Supercell and Spotify ( also accidentally a couple of Nordic startups , respectively hatch in Finland and Sweden ) .
In the years since those investments , Accel ’s bet has been that the growth of startup in Europe has been inviolable enough to grow the commode of money that it ’s raising to back them . Notably , the $ 650 million announced Tuesday is the same size of it as the firm ’s early - phase fund in the U.S. ( announcedDecember 2023 ) . Given that the U.S. is a considerably bigger market in terms of overall venture funding and number of startup , that speaks to Accel ’s authority in what ’s playing out here .
“ The European tech prospect has really come of age , ” enounce Harry Nelis , a longtime partner at Accel in London . Current investments include cybersecurity firmsCyeraandOasis , the care home marketplaceLottie , and the buzzy AI telecasting startupSynthesia , among many others .
As you might expect from that list and late headlines , the focussing going ahead will be on timely business tapping into the needs and interests of the day . That includes those that are building creative solutions to pressing problems ( cybersecurity being a prime example of that ) , smart commerce solution ( include marketplaces that solicit into social and social needs ) and — need I write it ? — AI , AI , AI .
speculation seat in Q1 of this year , accord to research from PitchBook , shows flimsy but still encouraging signs of recovery . In full some € 16.3 billion was ploughed into startup across Europe in the first three months of this class . That ’s up on Q1 of 2023 , when € 13.7 billion found its way into startups ’ bank building accounts , but both are down by many billions from the exuberant , cyberspace - intoxicating twenty-four hour period of 2021 and 2022 .
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That drop might not be such a spoiled thing for the longer term : Right now the marketplace is trying not to get knocked over by the undulation of startups that were generously fund at abrupt valuations in years past , which are now crashing down as they find out themselves struggling to reach their gross projection , stand up their valuations and ineffectual to exit on the public mart or raise more funding .
Updated to remove Skype from the list of startups ( Accel did not invest in it ) .
