Accel’s $550 million India fund; South Park Commons bets on deeptech
Accel has raised $550 million for its ninth India fund, focusing on deeptech, manufacturing, and AI, despite a 15% reduction from its previous fund size of $650 million. This trend reflects a broader industry reset as venture firms in India adjust to fewer AI opportunities. Accel aims to invest in 15-25 companies, helping them scale to $1-2 billion businesses, while South Park Commons has also raised $575 million for its fourth fund, targeting around 70 companies with a focus on follow-on investments.