Global venture capital firm Accel has announced $650 million fund for early stage startups across India and Southeast Asia, taking the total commitment in the region to over $2 billion.
Accel has set up its first fund in India in 2005. The VC firm has partnered with founders in India from the very earliest stages, supporting them as they work to create “exceptional” companies.
Flipkart and Freshworks – two of the most iconic companies – are examples of companies backed by Accel from their initial seed rounds through all subsequent financings.
In Southeast Asia, the global Accel team has backed leading companies such as Pluang, Xendit, Axie Infinity, Nansen, and Astro.
“As we look towards the next decade, we expect digital adoption in India and Southeast Asia to only accelerate. We see this trend playing out not only in categories like financial services and e-commerce, but also across core sectors like agriculture, education, insurance, logistics, healthcare, real estate, and manufacturing,” said Accel in a statement.
Accel said its commitment remains unchanged in the region as it seeks to be the first partner to founders and teams across the globe. “In India and Southeast Asia we are the first institutional investor in over 85% of our investments, and 95% of our investments are Seed or Series A. We continue to expand our commitment to startup founders and entrepreneurs in India through programs such as SeedToScale and Atoms,” it said.
Accel, which counts many university endowments, non-profit firms and research institutions among its fund investors or limited partners, mostly invests in the so-called ‘Seed’ or Series A funding rounds.
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