Accel raises a sixth fund to the tune of $575 million, now has a total of $3 billion under management

Venture capital firm Accel has raised a $575 million fund, its sixth to be invested in early-stage companies across Europe and Israel, and its biggest to date.

Accel, which set up shop in London back in 2000, has backed the likes of Spotify, BlaBlaCar, Monzo, UiPath, Deliveroo, Prezi, Supercell, Funding Circle and Rovio, so it's proven itself rather good in spotting winners on many occasions.

This track record has helped Accel close its latest fund at $575 million, helping it maintain its status as one of the largest VC firms in Europe. With the new fund, the core investment team of seven partners and principals will continue to focus on early-stage startups, the firm says.

Here's an overview of the funds Accel has raised since it landed in London:

1) $509 million (December 2000) 2) $450 million (June 2005) 3) $531 million (December 2008) 4) $475 million (March 2013) 5) $500 million (April 2016) 6) $575 million (May 2019)

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