Roehl Niño Bautista · · 1 min readAccel launches $650m fund for India, SEA startups
Global VC firm Accel has earmarked US$650 million to invest into startups in India and Southeast Asia that are in the pre-seed to growth fundraising stages.
This is Accel’s seventh fund, focusing on next generation ecommerce, emerging software as a service, consumer fintech, global business-to-business marketplaces, digital health, and Web3.
Photo credit: Accel
“Southeast Asia’s startup ecosystem is thriving and very interesting innovation is being done here,” said Prayank Swaroop, partner at Accel. “We believe our insights from the Indian market and the global Accel platform can help startups in the region from seed to scale.”
Some Southeast Asian startups backed by the VC include investment app Pluang, payment gateway Xendit, play-to-earn game Axie Infinity, blockchain analytics platform Nansen, and quick commerce firm Astro.
Accel has backed four out of 47 unicorns in Southeast Asia, as well as 15 of India’s 80 unicorns.
The VC firm said it has invested a total of over US$2 billion into India’s and Southeast Asia’s startup ecosystems.
Accel also runs SeedToScale and Atoms, which are founder-focused programs offering mentorship and networking to early-stage startups.
Editing by Collin Furtado and Lorenzo Kyle Subido
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