Accel raises $650 mn fund to invest in Indian and SE Asian start-ups

It was an early investor in unicorn start-ups like Flipkart, Swiggy, Zetwerk, Cultfit, Acko and others

Venture capital (VC) firm Accel, an early investor in unicorns like Flipkart, Swiggy, Zetwerk, Cultfit, Acko and others, has raised its seventh fund for India and SE Asia with a corpus of $650 million.

“India currently has 200 million digitally transacting consumers, a number that is expected to grow to 500 million in the next five years. In India and Southeast Asia we are the first institutional investor in over 85 per cent of our investments, and 95 per cent of our investments are Seed or Series A,” the firm said.

Its previous fundraise was closed in December 2019 with