Harry Nelis, a London-based partner at Accel, which has backed European startups including Vinted and Celonis Stephen McCarthy/Getty Images Silicon Valley VC Accel has raised $800 million to back early-stage founders across Europe and Israel, as US investors take a growing role…
closing the region’s capital gap. The capital is part of the Palo Alto-based firm’s $3.5 billion fundraising, with $800 million allocated to US investments and $550 million to India
Accel last raised capital for European investments in 2024, collecting $650 million for its eighth vehicle in the region. Since opening its London office in 2000, Accel has backed many of Europe’s best-performing startups, including Spotify and Monzo. The firm will be focusing on AI and defence with the new funds, already counting companies such as Swedish vibe coding startup Lovable, and UK-based counter-drone maker Cambridge Aerospace in its portfolio.
Accel’s haul underscores the growing presence of US investors in European VC dealflow. At the end of H1, 21.8% of the region’s rounds included US firms, according to PitchBook’s Q2 2026 European Venture Report, the highest percentage in a decade. More than two-thirds of the deal value came from capital from across the pond.