Accel previously known as Accel Partners, a venture capital firm from the US has closed a $550 million investment fund for India. It would be the 6th round of funding for the silicon valley based company.
In the last 15 years of investing in India, the company has invested $1 billion into early-stage companies.
Anand Daniel a partner for Accel India stated that the investment company would look for seed and early-stage startups in the country on a regular basis.
Accel recently closed a round of funding of $575 million for startups in Europe and Israel.
Accel invested into Flipkart’s seed round which valued the company at $4 million. The investment company made over $1 billion after it sold to Walmart for over $16 billion.
The company has also invested in Swiggy, Blackbuck, UrbanClap, Freshworks, and Bounce.
Swiggy, a food delivery startup, and Freshworks, a SaaS startup both are valued at $3 billion each.
According to the company, 44 of the 100 startups it has invested are valued at over $100 million each and its overall portfolio size is $44 billion.