Accel , an early-stage backer of Flipkart and Swiggy , has closed its eighth India-focused fund, raising $650 million in investor commitments, according to regulatory filings seen by ET. With this, Accel’s total investment commitments in India will approach $3 billion. ET Year-end Special Reads 2024 Rewind: Elections, extreme weather, sporting glories, moments that made history, and heartfelt goodbyes Sensex & Nifty in 2025: Predictions, targets, must-have stocks for the new year From Adani bribery allegations to PayTM Bank ban: Six shocks that rocked India Inc in 2024 ET first reported about Accel’s new fund closure at $650 million in its December 21 edition.
Separately, Accel’s US-based global growth fund closed its latest round with a $1.35 billion corpus. A portion of this fund will also be directed towards Indian startups , particularly those in pre-IPO rounds.
A spokesperson for Accel did not immediately comment on the fund close. Accel’s latest fund coincides with some of its portfolio firms, including Swiggy and Blackbuck, going public. Several other Indian companies where it has invested are also preparing to make initial public offerings, including Bluestone that has already filed draft papers for an IPO.
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