VC Accel Nears Close Of Its 8th India Fund At $650 Mn

Accel India, an early investor in flipkart and Swiggy, has raised $650 million for its eighth fund, according to sources. At the same time, Accel's global growth fund in the US has raised $1.35 billion, as per SEC filings. 

Some of the raised funds will be used to support Indian startups in their pre-IPO stages. Once officially closed, Accel’s total investments in India will approach $3 billion, indicating a more active approach to deploying capital across various stages of startup growth in both India and the US.

This comes as the venture capital firm has seen portfolio companies like Swiggy and Blackbuck go public, with more than six other Indian startups planning to do the same next year. This includes bluestone, the jewelry maker, which has filed for its public offering.

The new India fund will be used to increase investments in both new and existing companies, with a focus on reaching entrepreneurs in non-metro markets.

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Accel's next fund, expected to be announced in 2025, comes at a time when venture capital firms have large amounts of unspent capital from funds raised in the past two years.

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