In a significant boost to the European and Israeli startup ecosystems, venture capital giant Accel has announced a new $650 million fund aimed at early-stage investments, particularly focusing on artificial intelligence and cybersecurity sectors.

The new fund is poised to invest in startups from seed to Series A stages across the U.K., continental Europe, and Israel. Accel's robust portfolio already includes over 200 companies in these regions, with more than 100 current investments. Noteworthy past investments include high-profile successes like Spotify and Supercell, which underscore the region's potential to produce globally competitive tech enterprises.

As European tech continues to mature, Accel's new fund not only underscores the firm's bullish stance on the region but also promises to catalyze the next wave of cutting-edge startups in Europe and Israel.

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