Jan 6, 04:37 AM

Accel Raises $650 Million (₹5,500 Crore) Early-Stage Fund for AI, Fintech, Consumer Brands, and Manufacturing in India

Venture capital firm Accel has successfully raised $650 million for its eighth early-stage fund focused on India and Southeast Asia. The fund aims to support 'disruptive and category-defining' businesses, particularly in sectors such as artificial intelligence, fintech, consumer brands, and manufacturing. Accel's partners, Anand Daniel and Shekhar Kirani, have indicated that the new fund will help address the emerging needs of startups in a crowded market, where competition has intensified. The firm is also looking to facilitate initial public offerings (IPOs) for its portfolio companies in 2025, following the successful $1.4 billion IPO of Swiggy in 2024, which was the largest tech IPO of that year. With the Indian IPO market projected to raise over ₹2 trillion in 2025, Accel's new fund positions it strategically to capitalize on the anticipated growth in startup listings.