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The final close follows the fund’s first close of Rs 550 crore in February.
The new fund is around 15% smaller than Accel’s previous India fund. Accel had closed $650 million for its eighth India fund in January last year.
More than 65% of the commitments for the first close came from overseas Limited Partners (LPs), or investors.
The fund is nearly twice the size of Ascent Fund II, which closed at $254 million in 2022.
The fund is anchored by HDFC AMC’s Select Fund of Funds I.
The fund has secured commitments from institutional investors and family offices.
The fund -- InCred Special Opportunities Fund-I -- drew commitments from domestic family offices, ultra-high-net-worth individuals, and overseas investors.
The fund has earmarked around 20-25% of the corpus for follow-on investments in top-performing portfolio companies from its first fund.
Limited Partners (LPs), or investors in the fund include government entities such as the Fund of Funds for Startups managed by SIDBI.
