Accel launches $4 bn late-stage fund

NEW DELHI: Global VC firm Accel has announced a new $4 billion later-stage fund to provide expansion capital to promising companies within its own portfolio worldwide, as well as other aspiring firms. Accel set up local teams and establish a deep presence in exciting regions such as Europe (since 2000) and India (since 2008).

The VC firm has a sizeable presence in India and has invested in companies like Flipkart (now Walmart-owned), Freshworks, Swiggy, Spinny, Vedantu, Zetwerk, Infra. Market, Moglix, Browserstack. In March this year, Accel announced its seventh India fund with $650 million. “Our decades-long experience has also taught us the importance of patience and discipline - especially during periods of volatility and change like we are experiencing today,” Accel said in a statement.