Accel, a Leading Global VC Firm, Secures $650 Million Fund to Fuel Emerging Indian Entrepreneurs
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New Delhi, Jan 6 (NationPress) Accel, a leading global venture capital firm, declared on Monday that it has amassed a $650 million early-stage fund focused on empowering the next generation of entrepreneurs in India and Southeast Asia (SEA).
This new fund, representing Accel's eighth initiative in India and SEA, aims to enhance its dedication to collaborating with early-stage innovators to develop disruptive, category-defining enterprises that make a significant impact.
With this new capital, the VC firm intends to continue its partnerships with founders in the fields of artificial intelligence, consumer brands, fintech, and manufacturing.
As the world’s fastest-growing major economy, India is projected to see its GDP per capita increase by 60 percent, climbing from $2,700 in 2024 to $4,300 by 2029.
Accel believes that India’s consumption narrative will remain robust, with investments in public and digital infrastructure expected to yield sustained long-term economic growth.
“India is at a pivotal moment. Over the next decade, we are on track to contribute more to our GDP than we have throughout our economic history. The potential for Indian founders to create and expand businesses that generate large-scale impact is immense,” stated Prayank Swaroop, Partner at Accel.
With the establishment of this fund, “we are concentrating on AI, consumer, fintech, and manufacturing—fields that are transforming industries and addressing the demands of a swiftly changing market,” Swaroop further noted.
Despite the fact that India’s public markets have tripled in size over the past decade, companies backed by venture capital still account for less than 5 percent of the market capitalization.
The public markets have begun to accept technology-driven enterprises, as evidenced by recent listings such as BlackBuck and Swiggy. Accel played a pivotal role as a seed investor in both of these companies.
Accel has made significant investments across various sectors, including Amagi, Acko, BlackBuck, BlueStone, BrowserStack, Cult.fit, Flipkart, Freshworks, Swiggy, Urban Company, and Zetwerk.
As noted by Shekhar Kirani, Partner at Accel, “India’s startup ecosystem is increasingly becoming a driving force behind the nation’s economic advancement, with VC-backed companies exceeding $50 billion in public market capitalization.
