This is the eighth fund of its kind, focusing on seed to Series A rounds across the U.K., Europe, and Israel. Accel, with over 200 investments in the region, backs prominent companies like Supercell and Spotify. Despite challenges in scaling, Europe has shown robust growth in the tech sector, leading to Accel's confidence in the market.

This new fund matches the size of their U.S. early-stage fund, highlighting their belief in Europe's potential. Accel's focus includes cybersecurity (Cyera, Oasis), marketplaces (Lottie), and AI (Synthesia). The European tech scene is maturing, with Q1 2024 venture investments reaching €16.3 billion, up from €13.7 billion in Q1 2023. This cautious optimism reflects a shift from the high valuations and exuberance of previous years to more sustainable growth.