Global venture capital and growth equity firm Accel Partners has held the closing of a $155m fund for seed and early stage investments in India.
Accel India III, which has attracted institutional investors from North America, Europe and Asia, will focus on opportunities in Internet services, digital media, SaaS and enterprise technologies, mobile, healthcare and education, and other high-growth sectors.
The firm, which is based in Bangalore, has eleven investment professionals based in India, led by four partners:
– Mahendran Balachandran,
– Shekhar Kirani,
– Subrata Mitra, and
– Prashanth Prakash.
In India, Accel has already made investments in companies such as Babyoye, Cnergyis, enStage, Deeksha(Ace), Exclusively.in, Flipkart, HealthcareMagic, Kaatizone, Letsbuy, MuSigma, Myntra, Perfint, QwikCilver, Sconce, Vinculum and Virident.