Accel, a US-based venture firm, has raised $800m for its ninth early-stage Europe and Israel fund, alongside $2.7bn for three other funds. Despite its American headquarters, Accel has operated in Europe for over 25 years and has backed nearly 250 European companies. Notable investments include Romanian biotech Ui Path, UK fintech Monzo, and French health platform Doctolib.

The newly-raised fund emphasizes AI as the most transformative technology, with recent deals featuring Swedish AI agent startup N8n, German defence startup Cambridge Aerospace, and UK legaltech Legora. Partner Harry Nelis stated: "AI is the most transformative technology we've ever seen, opening new areas for innovation and compressing the time from idea to scaled business." This follows a previous $650m round for the early-stage Europe and Israel fund two years prior.