Accel makes $4-bn bet on late-stage funding
Global VC firm also complements early-stage and growth-stage funds
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Upbeat on India
- Accel has a sizable presence in India
- It invested in Flipkart, Freshworks, Swiggy, etc
- In March, Accel announced its 7th India fund with $650 mn
New Delhi: Global VC firm Accel has announced a new $4 billion later-stage fund to provide expansion capital to promising companies within its own portfolio worldwide, as well as other aspiring firms.
Accel set up local teams and establish a deep presence in exciting regions such as Europe (since 2000) and India (since 2008). The VC firm has a sizable presence in India and has invested in companies like Flipkart (now Walmart-owned), Freshworks, Swiggy, Spinny, Vedantu, Zetwerk, Infra.Market, Moglix, Browserstack and others. In March this year, Accel announced its seventh India fund with $650 million.
"Our decades-long experience has also taught us the importance of patience and discipline - especially during periods of volatility and change like we are experiencing today," Accel said in a statement late on Tuesday.
"With that in mind, we are announcing the close of a $4 billion global, later-stage fund. This fund is a critical element in our global strategy," the firm said.
