Accel nears close of new India fund at $650 million
Accel India has secured $650 million for its eighth fund, while its global growth fund has raised $1.35 billion. A portion of this will be invested in pre-IPO rounds of Indian startups, bringing Accel's total India commitments to nearly $3 billion. This move comes as several Accel-backed companies, including Bluestone, are preparing for IPOs.