Accel raises $650mn for 8th India fund

BENGALURU: Accel secured $650 million for its eighth India-focused fund, as shown in the US SEC filings. This commitment demonstrates confidence in India’s growing startup ecosystem, despite global economic uncertainties affecting investment sentiment.
With this capital, Accel intends to enhance its backing for both nascent ventures and existing portfolio companies across sectors. This capital raise aligns with significant progress among Accel’s notable Indian investments. Swiggy, the food delivery service, and logistics firm BlackBuck are preparing for public offerings, whilst Bluestone, a jewellery retailer, submitted its draft papers for an IPO. These developments showcase Accel’s proficiency in supporting companies towards market leadership.
The firm was instrumental in developing prominent startups, including Flipkart, Freshworks, BrowserStack, Urban Company, and Zetwerk.