Accel India raises 450 million dollars in record time


Accel has raised its fifth and major India-dedicated fund of 450 million dollars and

will start making investments from 2017. The new funding takes Accel’s all assets

under management across vehicles to over one billion dollars making it third

biggest VC firm in terms of capital raised behind sequoia capital India’s 3 billion

dollars and Nexus venture partner’s 1.2 billion dollars. The latest funding is larger

than the 325 billion dollars which the VC firm raised in the previous funding

round. Accel India has again, adopted a strategy of investing in early

stage startups. Accel commented that the increase in the fund will help to cash in

on early bets by putting cash in companies in following rounds.

Future plans

The sector in which the company is focusing after the new funding round is SaaS,

consumer tech, financial technology, business to business companies and

healthcare. As per Prashanth Prakash, Accel India’s partner said ‘this is a perfect

and unique period in the market and entrepreneur formation and we hope that

things will be stable and steadier now’. The new funding will continue to help out

the partners with endowing and fostering exhilarating companies.

About Accel India

Accel India is a Venture firm founded by Prashanth Prakash, Mahendran

Balachandran , and Subrata Mitra and has grown steadily with strong leadership

from Dinesh Katiyar, Subrata Mitra. The company has set up a powerful portfolio

services team in India for assisting its invested companies with recruitment,

product management, technology, and digital marketing and data sciences. Accel

India is very much in news for its investment in 2009 up to 1 million dollars in

Flipchart which is now valued at 15.2 billion dollars. It also has a hold stake in

India’s largest cab hailing company Ola and also an online classified portal knows

as quikr.

Source: www.techcrunch.com

Accel India raises 450 million dollars in record time
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