65
/
2
Min Read
Venture capital firm Accel has closed a USD 550 million India fund, its ninth dedicated fund for the country, according to TechCrunch. The fund was oversubscribed and closed within weeks, just 19 months after the firm’s previous India fund.
“The early movers have been on the LLM [large language model] side… but there is a significant opportunity in the application layer,” Prayank Swaroop a partner at Accel, said.
The new fund will back early-stage startups in India with Accel continuing its focus on technology-led companies. The firm has previously invested in Indian startups including Flipkart, Freshworks and Swiggy since entering the Indian market in 2005.
The latest fundraise comes as venture capital activity in India remains selective with investors increasingly focusing on companies with strong growth potential and technology-driven business models. Accel’s continued fundraising also reflects its ongoing strategy of investing in India’s startup ecosystem across multiple sectors.
The USD 550 million fund is Accel’s ninth India fund, adding to the firm’s existing portfolio of Indian technology companies. Its earlier investments include companies that have grown into major businesses across e-commerce, software and consumer technology.
The fund’s closure also comes relatively soon after Accel’s previous India vehicle, which was raised just 19 months earlier. The oversubscribed fund indicates continued investor interest in Accel’s India strategy despite a more cautious global venture capital environment.
Accel has been active in India for more than two decades and has built a portfolio spanning fintech, software-as-a-service, consumer internet and other technology categories. The firm’s latest fund will allow it to continue making early-stage investments in Indian startups as new areas of technology and entrepreneurship emerge.
This article was originally
published by the 
