While there are almost all the funds targeting the late stage, growth capital investing and even PIPE ( private investments in public equity) investing, here is a VC fund which has raised capital to do seed and early stage investing. Accel India, formerly known as Erasmic Partners has closed a new $60 million seed and early stage fund.
Accel believes that seed and early stage markets continue to be under served in India, attracting less than 5% of the total venture capital funds. There will not be a significant shift in the investment strategy of Accel, and it will continue with their highly engaged model to venture building. Accel India's portfolio of companies includes DoveTail, HolidayIQ, Inbiopro, Kaati Zone, Kirusa, MuSigma, Myntra, Perfint, Sconce and Virident.
"Accel India is pleased to have gained the support of our industry's elite investors," said Peter Wagner, Partner at Accel Partners. "The Accel India team is already functioning as a key element of our Accel global network, to the benefit of talented, passionate entrepreneurs in India and around the world."
"We have seen a significant increase in entrepreneurial activity in the last few years; many are first time entrepreneurs who find significant value in our team's experience in hands-on company building beyond just the cash investment" said Subrata Mitra, Partner at Accel India.
Accel India is managed by four partners: Mahendran Balachandran, Gagan Kumar, Subrata Mitra and Prashanth Prakash.