• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
FinanceAccel Partners
Europe

Why a partner at early Facebook backer Accel grills jobhunters about the biggest risk they’ve ever taken

Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
Down Arrow Button Icon
Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
Down Arrow Button Icon
March 25, 2025, 4:35 AM ET
Harry Nelis, Partner, Accel Partners, on MoneyConf stage during day one of Web Summit 2022 at the Altice Arena in Lisbon, Portugal.
Harry Nelis, Partner, Accel Partners.Stephen McCarthy/Sportsfile for Web Summit via Getty Images

To head up one of Europe’s biggest venture capital groups for more than two decades, entrusted with hundreds of millions of dollars at a time to make visionary bets, you need a healthy appetite for risk.

Recommended Video

But Harry Nelis, who has been a general partner at Accel’s Europe office since 2004, knows this isn’t enough. Alongside academic prowess or proven success as an entrepreneur, he expects his future colleagues, armed with a $650 million purse, to have the right kind of appetite for risky bets.

Accel, the American-based fund has an admirable track record of successful startup bets. The group appeared early in the rise of multibillion-dollar companies including Facebook, Spotify, and Monzo. The fund’s employees are Ivy League and Oxbridge grads, former successful founders, and PhDs working on cutting-edge technologies that might create massive opportunities in the future. 

But when Nelis sits down to interview these prospective employees, there’s one mystery in particular he’s keen to decipher.

“What’s the riskiest thing that you’ve ever done in your life?” Nelis asks job candidates vying for a position at Accel.

His own answer? Getting married.

In an interview at Accel’s London offices, Nelis reassured Fortune that he has been happily married for 30 years. His question, though, speaks to a core tenet of his job.

“The hardest thing is to live with the knowledge that very likely you can be wrong,” Nelis told Fortune from Accel’s London office. “The biggest mistake in venture is not losing money on an investment. It is missing the outlier.”

Nelis’s question can reveal the character of his future employees. Perhaps more importantly, though, it gets to the heart of the mindset of investors working in venture capital.

VC funds work almost exclusively in the business of “moonshots,” making bold bets on a heap of companies in the hope a few will break through and provide a return on investment for a whole funding round. 

Unfortunately, that means most companies that gain financial backing will fail. By a range of estimates, it’s between 75% and 94% of startups that don’t make it to unicorn status. The odds aren’t much better than they are in gambling.

Nelis has witnessed the evolution of Europe’s startup scene since he began overseeing Accel’s London office in 2004. The group was an early backer of Spotify, replicating its success across the Atlantic as an early investor in Facebook. In Europe, the process of identifying new founders has become much more common since those early funding rounds.

According to a new report launched by Accel and Dealroom, employees of European unicorns have gone on to found 1,650 startups across Europe between 2008 and 2025. 

Fortune spoke with several founders who have emerged out of this ecosystem over the last two decades, beginning with Skype’s rise to one of Europe’s first unicorns.

Read more from Fortune

  • This entrepreneurial couple cashed out their 401(k)s and sold a $126 million company—now, they run a U.K. soccer team
  • Trump’s 25% tariffs are backfiring and threatening Gen Z’s trade career aspirations—putting car manufacturing jobs in peril
  • Gen Z women are being sold a risky dream: the realities behind ‘investing’ in designer bags like the Hermès Birkin
  • Like Tim Cook and Gen Z, AEG’s top exec eats the same lunch most days and wears the same outfit
  • Warren Buffett reveals the unique education strategy he took in school—and eventually paid off with a $170 billion fortune
  •  

    Nelis says the idea of failure can be a hard concept for junior candidates to grasp, given they have made it to an interview with Nelis thanks to a track record of success. 

    “Typically, people who have done well in school and done well in their careers, they don’t like getting it wrong. But in our business, you need to get it wrong a few times to get it right. And that’s what we look for in investors.”

    At the same time, Nelis expects candidates to know why they’re taking a risk, rather than fumbling into it. He recounted how one candidate shared their story of getting lost while hiking, something Nelis regarded as the wrong answer.

    “You didn’t think about the risk that you took. You kind of just stumbled into the thing that would be dangerous and stupid. That’s not proactive risk-taking,” said Nelis.

    “Risk-taking is about, ‘what do I get when it goes well?’ And is there a path where it can go well? Because sometimes there’s no scenario in which it goes well enough to compensate you for all the risks that you’re taking.”

    Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
    About the Author
    Ryan Hogg
    By Ryan HoggEurope News Reporter

    Ryan Hogg was a Europe business reporter at Fortune.

    See full bioRight Arrow Button Icon

    Latest in Finance

    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025

    Most Popular

    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Finance
    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
    By Fortune Editors
    October 20, 2025
    Fortune Secondary Logo
    Rankings
    • 100 Best Companies
    • Fortune 500
    • Global 500
    • Fortune 500 Europe
    • Most Powerful Women
    • World's Most Admired Companies
    • See All Rankings
    • Lists Calendar
    Sections
    • Finance
    • Fortune Crypto
    • Features
    • Leadership
    • Health
    • Commentary
    • Success
    • Retail
    • Mpw
    • Tech
    • Lifestyle
    • CEO Initiative
    • Asia
    • Politics
    • Conferences
    • Europe
    • Newsletters
    • Personal Finance
    • Environment
    • Magazine
    • Education
    Customer Support
    • Frequently Asked Questions
    • Customer Service Portal
    • Privacy Policy
    • Terms Of Use
    • Single Issues For Purchase
    • International Print
    Commercial Services
    • Advertising
    • Fortune Brand Studio
    • Fortune Analytics
    • Fortune Conferences
    • Business Development
    • Group Subscriptions
    About Us
    • About Us
    • Lists Calendar
    • Press Center
    • Work At Fortune
    • Terms And Conditions
    • Site Map
    • About Us
    • Lists Calendar
    • Press Center
    • Work At Fortune
    • Terms And Conditions
    • Site Map
    • Facebook icon
    • Twitter icon
    • LinkedIn icon
    • Instagram icon
    • Pinterest icon

    Latest in Finance

    douches
    RetailFood and drink
    Meet the man who invents new potato varieties for your potato chips: 5 new variants in the last 15 years
    By Dee-Ann Durbin, Mike Householder and The Associated PressApril 22, 2026
    1 hour ago
    hormuz
    PoliticsIran
    Iran fires on 3 ships in Strait of Hormuz amid supposedly indefinite cease-fire
    By Jon Gambrell, David Rising and The Associated PressApril 22, 2026
    1 hour ago
    Top CD rates from major banks April 22, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
    Personal FinanceCertificates of Deposit (CDs)
    Top CD rates from major banks on April 22, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
    By Joseph HostetlerApril 22, 2026
    2 hours ago
    Current price of Ethereum for April 22, 2026
    Personal FinanceEthereum
    Current price of Ethereum for April 22, 2026
    By Joseph HostetlerApril 22, 2026
    2 hours ago
    Current price of Bitcoin for April 22, 2026
    Personal FinanceCryptocurrency
    Current price of Bitcoin for April 22, 2026
    By Joseph HostetlerApril 22, 2026
    2 hours ago
    Current price of gold as of April 22, 2026
    Personal Financegold prices
    Current price of gold as of April 22, 2026
    By Danny BakstApril 22, 2026
    2 hours ago

    Most Popular

    The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
    Real Estate
    The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
    By Sydney LakeApril 21, 2026
    21 hours ago
    'Something sinister could be happening': FBI looks into dead or missing nuclear and space defense scientists tied to NASA, Blue Origin, and SpaceX
    Politics
    'Something sinister could be happening': FBI looks into dead or missing nuclear and space defense scientists tied to NASA, Blue Origin, and SpaceX
    By Catherina GioinoApril 21, 2026
    20 hours ago
    $166 billion in tariff refunds just became available, but small businesses may already be at a disadvantage
    Law
    $166 billion in tariff refunds just became available, but small businesses may already be at a disadvantage
    By Sasha RogelbergApril 20, 2026
    2 days ago
    Jeff Bezos once gave Eva Longoria and the admiral behind Osama bin Laden's capture $100 million—but she says you don't need wealth to give back
    Success
    Jeff Bezos once gave Eva Longoria and the admiral behind Osama bin Laden's capture $100 million—but she says you don't need wealth to give back
    By Orianna Rosa RoyleApril 21, 2026
    1 day ago
    John Ternus, the man stepping into Tim Cook and Steve Jobs' shoes, is a 25-year Apple veteran with zero LinkedIn posts
    C-Suite
    John Ternus, the man stepping into Tim Cook and Steve Jobs' shoes, is a 25-year Apple veteran with zero LinkedIn posts
    By Kelvin Chan and The Associated PressApril 21, 2026
    23 hours ago
    ‘Something sinister’: What we know about the FBI probe into dead and missing scientists linked to space and military industries
    Economy
    ‘Something sinister’: What we know about the FBI probe into dead and missing scientists linked to space and military industries
    By Jim EdwardsApril 22, 2026
    5 hours ago

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.