New Delhi, Aug. 12 -- US venture capital firm Accel has raised $550 million (about Rs 5,250 crore at current exchange rates) for its ninth India-focused fund to invest in local startups, as its continues to expand its investment platform.
The vehicle is part of Accel's broader $1.35 billion fundraising across four funds to make early-stage investments across the US, Europe, Israel and India, the VC firm said. These funds will also provide additional capital for larger initial investments and follow-ons, the firm said in a statement.
Accel's new India fund follows its eighth local fund, which closed in January 2025 after raising $650 million (about Rs 5,500 crore then), and a similarly sized seventh vehicle in March 2022, meaning its previous India funds were larger than the newly disclosed vehicle. Accel had raised $550 million for its sixth India fund in 2019.
Accel has been investing in India since 2005 and has backed startups including Flipkart, Swiggy, Freshworks, Meesho, BlackBuck and Urban Company. The firm has also been increasing its focus on artificial intelligence, including through its partnership with Google to back early-stage Indian AI startups.
The new fund comes as Accel continues to increase its focus on early-stage opportunities in India, including artificial intelligence, enterprise software, fintech, consumer technology and manufacturing.
The firm also operates Accel Atoms, its pre-seed programme for Indian and Indian-origin founders. The programme provides capital, mentorship and access to Accel's global network of investors and operators, with cohorts focused on areas including AI, SaaS, fintech, consumer technology and Industry 5.0. Since its launch, companies from the first three cohorts have collectively raised more than $200 million from global investors, according to Accel.
Published by HT Digital Content Services with permission from VC Circle.