Accel’s $550 million India fund; South Park Commons bets on deeptech
Happy Wednesday! Venture capital firm Accel has raised its ninth India fund. This and more in today’s ETtech Morning Dispatch.
In a recent update, venture capital firm Accel has successfully raised $550 million for its ninth India fund, marking a slight reduction from the $650 million raised in its previous fund. This new fund is set to continue investing across various sectors with a strong emphasis on AI, manufacturing, and deeptech. Accel India partners Anand Daniel and Abhinav Chaturvedi emphasized that early-stage deal flow in India has remained stable, despite a surge in new AI startups in the US and Europe.
The fund's focus remains unchanged, with a strategic investment in approximately 15-25 companies over its lifecycle. Meanwhile, South Park Commons, a San Francisco-based investor collective, is optimistic about India's deeptech space, with a $575 million fourth fund being the latest indication of their bullish stance.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
