BENGALURU: Accel has raised $650 million for its eighth India-focused fund, as shown in a US SEC filing. The commitment reflects confidence in India’s growing startup ecosystem, even as global economic uncertainty dampens investment sentiment.
With this capital, Accel plans to expand its support to both nascent ventures and existing portfolio companies across sectors. This investment is in line with Accel’s significant progress in its significant Indian investments. Swiggy, the food delivery service, and logistics firm BlackBook are preparing for public offerings, while Bluestone, the jewelry retailer, has submitted its draft papers for an IPO. This development demonstrates Accel’s expertise in helping companies move towards market leadership.
The firm has been instrumental in developing prominent startups, including FlipkartFreshworks, BrowserStack, Urban Company, and Zetwerk.