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Accel announces $650mn fund for early-stage startups in India, Southeast Asia

Accel, a global venture capital firm, has announced a $650 million fund for early-stage startups in India and Southeast Asia, bringing the region’s total commitment to over $2 billion. 

In 2005, Accel launched its first fund in India. From the beginning, the VC firm has collaborated with Indian founders, assisting them in building “exceptional” companies.

Accel has funded two of the most well-known firms like Flipkart and Freshworks, from their first seed rounds through all subsequent financings. 

Pluang, Xendit, Axie Infinity, Nansen, and Astro are prominent firms backed by the global Accel team in Southeast Asia.

“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 mostly invests in the so-called ‘Seed’ or Series A fundraising rounds, including numerous university endowments, non-profit organizations, and research institutions as fund investors or limited partners.

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