Accel has closed a new $550 million India fund, less than two years after raising its previous India-focused vehicle, as part of a coordinated $3.5 billion global fundraising effort.
The new India fund was oversubscribed and closed within weeks, people familiar with the matter told TechCrunch. Accel still has more than 55% of its previous $650 million India fund available for investment, the people said, underlining that the latest raise came despite ample capital remaining in its earlier vehicle.
