Accel raises $550 million ninth India fund

Silicon Valley-founded venture capital firm Accel has raised $550 million for its ninth India-focused fund, adding fresh capital for early-stage investments as artificial intelligence becomes a bigger part of its investment strategy.

The India fund is part of a broader $3.5 billion fundraising across four vehicles supporting Accel’s early-stage strategies in India, the US, Europe and Israel, as well as larger initial investments and follow-on funding.

Accel announced the global fundraising on Tuesday, 11 August.

“AI is powering a technology supercycle,” Accel’s partners said in the announcement, adding that they believe the transformation remains in its early stages.

Fund IX follows the $650 million eighth India fund announced in January 2025. At $550 million, the latest vehicle is $100 million smaller than both Accel’s seventh and eighth India funds and matches the size of its sixth fund, raised in 2019.

The new fund comes less than 18 months after Accel announced Fund VIII.

Accel has historically concentrated on early-stage investing in India. In 2022, the firm said it was the first institutional investor in more than 85% of its investments in India and Southeast Asia and that 95% were seed or Series A deals.

Its Indian portfolio includes Flipkart, Swiggy, Freshworks, Myntra, Urban Company, BlueStone, Zetwerk and Infra.Market. Accel has operated in India for more than 16 years and maintains its Indian investment team in Bengaluru.