Explore the latest news, in-depth reports, and executive analysis tagged with #Fund Close.
The fund has brought Quest Global Engineering Services as a Limited Partner (LP), adding an institutional investor from the engineering sector to its LP base.
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.
