Accel, a venture capital firm with offices in Silicon Valley, London, and Bengaluru, has raised US$3.5 billion across four funds for early-stage startup investments.

The total includes a US$1.35 billion global expansion fund, US$800 million each for the US and Europe and Israel, and US$550 million for India.

The new India fund is US$100 million smaller than its predecessor. Accel said its Europe and Israel fund and its US fund each increased from US$650 million to US$800 million.

The smaller India vehicle comes as local venture fundraising fell 35% to US$2.7 billion in 2024, according to Bain, even as overall venture capital investment in India rebounded to US$13.7 billion.

Separately, Accel has sought US$4 billion for a growth equity strategy.

Accel also said partner Daniel Levine will stop making new investments for this fund and future funds, but will remain a partner and continue supporting existing portfolio companies and serving on their boards.

🔗 Source: Bloomberg