Accel raises $5 billion across new funds to double down on AI, late-stage bets
16 Apr 2026, 02:10 PMEarly last year, Accel closed a $650 million early-stage fund for India and Southeast Asia.
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Accel has raised $5 billion across new funds as it sharpens its focus on artificial intelligence and late-stage growth investing, the Bloomberg reported, citing the venture capital firm's partner Matt Weigand
The firm has closed a $4 billion Leaders Fund targeting growth-stage startups globally, with AI at the core of its investment thesis. Accel has also raised a $650 million sidecar fund to deepen its exposure to a select set of high-conviction portfolio companies.
The capital will be deployed into startups scaling ahead of public listings or large exits.
In India last year, Accel Leaders Fund led a $131 million funding round used car platform Spinny.
Early last year, Accel closed a $650 million early-stage fund for India and Southeast Asia, targeting startups from pre-seed to Series A across sectors including AI, fintech, consumer, and manufacturing.
Accel has been investing in India for close to decade and counts several early bets, including Flipkart, Swiggy, Freshworks, Acko, BlackBuck, BrowserStack, Urban Company, and Zetwerk. Beyond capital, it runs SeedToScale and Accel Atoms to support founders.
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