US-based venture capital firm Accel Partners has hired Fred Destin as a partner for its London office, according to a statement.
Destin will join the firm this summer, according to a spokesperson. He is joining from Boston-based Atlas Venture, where he had been since 2004, first in London and then in Boston starting in 2010. Destin’s appointment will reunite him with former Atlas executive Sonali de Rijcker, now a partner at Accel.
Destin, a well-known figure in the technology start-up space, has been involved in many early stage investments at Atlas. He was the sole investor director for UK online property website Zoopla. He also was a first round investor in Dailymotion, one the largest European digital media sites. He was also involved in the investment of travel website Secret Escapes, The Currency Cloud, the leading Payments-as-a-Service platform; and PriceMinister, a leading French e-commerce marketplace. He was also a co-founding investor of Seedcamp, where he was a board member for five years.
Prior to venture, Destin was an executive director at Goldman Sachs in London. He also worked at Zurich Capital Markets and JP Morgan in structured derivatives, according to its website.
Destin brings “a deep working knowledge of the European market and proven success investing in the region, particularly at the early stage”, Harry Nelis, a partner at Accel London, said in the statement.
The appointment comes as the European arm of Accel Partners is gearing up to invest its fourth fund, which closed on $475 million in March 2013. Founded in Silicon Valley in the early 1980s, Accel only opened a London office in 2000. With the appointment of Destin, Accel’s London office will have seven partners.
Last year, the firm invested in Calastone, a UK-based fund management transaction network. Following that investment, the firm’s European Fund III was almost fully invested.