Venture capital firm Accel said on Tuesday it has raised a $650 million fund to invest in early-stage companies in Europe and Israel with a focus on...
STOCKHOLM - Venture capital firm Accel said on Tuesday it has raised a $650 million fund to invest in early-stage companies in Europe and Israel with a focus on artificial intelligence and cybersecurity.
The European and Israeli VC market has been growing fast, with investments of $66 billion in 2023 compared to $150 billion in the United States, according to data from Dealroom. In comparison, the investments amounted to just $1.1 billion in 2003 versus $17 billion in the U.S. London-based DeepMind is an AI research laboratory which is now owned by Alphabet. Meta opened FAIR in Paris in 2015 and it has become its hub for AI advancements.
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