Accel Partner India launches $400 million fund
Accel Partner, a Silicon Valley’-based venture firm, has set up a $400 million India-dedicated fund, with the aim of targeting opportunities in the domestic growth space, according to local media reports.
Accel Partners did not respond to AVCJ queries by deadline.
For the past two years, Accel has bolstered its India operation by hiring new staff, including Neeraj Bhardwaj from Apax Partners as Managing Director of its growth capital business and Prateek Dhawan, who previously worked as Vice President at Goldman Sachs Investment Partners, where he led its private equity operation. Accel’s fund comes as India undergoes a rapid economic transformation, which extends to the market’s venture space. Accel India primarily focuses on early stage opportunities, which is managed by four investment executives, and growth investments, overseen by three members.
Among its more recent investments, Accel Partners India in November injected a $2.8 million in Exclusively.In, the first web destination to bring Indian-infused fashion and home décor to a global audience. That investment came alongside Helion Venture Partners.
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