New Delhi, Aug. 12 -- Venture capital firm Accel on Wednesday announced its ninth India-focused early-stage fund, with $550 million in commitments, less than 18 months after closing its previous $650 million vehicle.

The new fund is part of a $3.5 billion global raise across four funds, including a $1.35 billion growth fund, as Accel positions itself for the next cycle of startup creation around artificial intelligence (AI), deep technology and advanced manufacturing.

The quick return to the market comes at a time when investor sentiment around India's startup ecosystem remains cautious. Funding activity and large late-stage deals have yet to regain momentum after a prolonged correction from the highs of 2021, widely seen as an outlier ...