Accel Closes $550 Million India Fund for AI and Deeptech Investments

Venture capital firm Accel has raised $550 million for a new India-focused fund, aiming to increase its investments in artificial intelligence (AI), deeptech, and other emerging startup categories in the country.

The India fund is part of a larger $3.5 billion capital raise by Accel across four new funds, as the firm seeks to expand its exposure to AI and back startups at earlier stages of growth. This follows Accel's previous India fund, which closed at $650 million in January 2025.

Accel currently has over $3 billion in total commitments to India and has been increasingly focusing on AI/ML, deeptech, and consumer startups, while maintaining a largely sector-agnostic approach. The new fund provides Accel with fresh capital to support Indian startups amidst a reshaping of venture investment by AI.

With over two decades of investing in India, Accel has built a significant portfolio including major tech startups like Flipkart, Swiggy, and Freshworks. The firm has historically acted as an early institutional investor, often providing the first institutional check to companies in India and Southeast Asia.