Fifteen-year-old venture capitalist firm Accel on 2nd December 2019 announced that it has closed its sixth India fund amounting to $550 million. This is a significant amount of funds Accel has invested in the country, where it first invested 15 years ago and has roughly contributed $1 Billion over the years.

With this new capital, the venture capitalist firm is likely to invest in

early-stage startups across the nation despite going through an economic slowdown.

The firm has seen the nation go through many slowdowns and was instrumental in placing some early bets on more than 100 early-stage Indian startups, including Flipkart, Swiggy, and Freshworks. Some of these early bets had given the firm happy dividends and were hailed as “kingmakers” in the Indian startup space.

Accel has risen more than $1 Billion across five rounds and has more than 44 companies with more than $100 million in valuation. The latest round of funding is the sixth round of funds it has raised. The firm has so far invested across five sectors which include Consumer, B2B, SaaS, Fintech, and Healthcare. On the way forward, the firm believes that it sees the trend of digital adoption play out not only in categories like food delivery, digital payments, and e-commerce, but also across sectors like agri-tech, education, insurance, logistics, healthcare, real estate, and manufacturing.