Accel is one of the most active early stage venture investors in India. It was an early backer of Flipkart and Swiggy, and after its eighth India fund its total India commitment reached nearly $3 billion.
Ownership and structure
Accel invests in India through dedicated India venture funds managed by a Bengaluru team, an arm formed in 2008 when Bangalore seed fund Erasmic Venture Fund merged with Accel.
What India does for Accel
India is a core venture capital market for Accel, which has backed startups such as Flipkart and Swiggy through successive India funds.
Investment and deals
Accel closed its eighth India fund at 650 million dollars in early 2025, taking its total India commitment to nearly 3 billion dollars.
Accel's India business
Accel closed its eighth India fund at $650 million in early 2025. Its total India commitment reached nearly $3 billion after that fund.
Accel invested in Flipkart in 2008 and fully exited by 2023. It earned about 35 times its investment in Swiggy at the IPO.
Key moves in India
- 2008: Erasmic Venture Fund merged with Accel in July to form the Accel India Venture Fund.
- 2008: Accel invested in Flipkart, initially holding more than 20 percent.
- 2022: Accel raised its seventh India fund of 650 million dollars.
- 2023: Accel fully exited Flipkart.
- 2024: Accel earned about 35 times its investment in Swiggy at the IPO.
- 2025: Accel closed its eighth India fund at 650 million dollars.
Where it operates
Accel runs its India business from Bengaluru.
At a glance
- Home country: United States
- Global headquarters: Palo Alto
- Sector: Private Equity & Investments
- Business: Venture capital
- Role of India: Investment portfolio
- India head office: Bengaluru
- India offices: Bengaluru
- India headcount: Not available
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