12 April, 2016, USA: Accel is riding high as after raising US $500 million seed funding recently, the company has announced that it has raised similar amount in it recently completed round. This time, Accel raised $500 million for Accel London V, a fund focused on Series A and B investments in Europe and Israel.
Despite of rough market conditions, the company has managed to pull the rabbit out of the hat. This can be considered as one of the healthy moves for the company as it proves that company is really doing well in the business.
Company’s recent investment include Deliveroo, Funding Circle, BlaBlaCar and ForgeRock. Accel plans to invest the recently raised amount in European and Israeli startups that are focusing on marketplace, fintech and software solution segment.
When it comes to exits, Supercell has been sold to SoftBank and was a spectacular exit for Accel. More recently, Showroomprive went public in France. In total, Accel’s London team has generated US $15 billion in exit market value in 2015 and taken a cut of this big cake — not too shabby, reports Tech Crunch.
Answering the media queries, Harry Nelis, Partner, Accel Partners said, “Yes, we’re going to continue to focus on Series A investments. Early stage is our sweet spot and where most of our investments are made — we typically invest in Series A and Series B rounds. Although, sometimes we go in a bit earlier when we meet an exceptional entrepreneur with a great idea or we’ll write larger checks when there’s a strategic opportunity to do so.”
Image-hercampus.com
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