Accel raises $575m

The global venture capital firm has closed its sixth fund focused on Europe and Israel.

Accel has announced the final close of its sixth fund focused on early stage companies in Europe and Israel. Accel London VI has raised $575 million for technology investments in both the consumer and enterprise sectors.

Accel London V closed at $500 million in April 2016 and was backed by the University of Michigan, the Michigan Department of Treasury, MetLife and the John S. and James L. Knight Foundation.