Accel raised $3.5bn. Europe now gets the same fund as the US
Accel is a venture capital firm. It gives money to startups early, usually before anyone else has, and takes a stake in return. It has done this since 1983, and it wrote the first institutional cheque into Atlassian, CrowdStrike, Flipkart and Slack.
On Tuesday it said it had raised $3.5bn for four new funds, Bloomberg reported. All four were raised at the same time, which the firm has not done before in 43 years.
The split matters more than the total. A $1.35bn global expansion fund will write bigger early cheques and follow on quickly. Then $800m for the United States, $800m for Europe and Israel, and $550m for India.
Europe and America now get the same money
Both the US and the Europe funds have grown from $650m to $800m. A Silicon Valley firm founded in California is now raising the same amount for European and Israeli startups as...
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