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Fremont: California-based Accel Partners, which is best known for its investment in Facebook, has planned to raise $400 million India-focused fund. Due to the current poor market conditions and increased competition among the private equity investors in the U.S., they have decided on this fund.
The firm has roped in prominent fund managers from DE Shaw, Apax Partners and Goldman Sachs to lead the India growth fund. The proposed India fund would strike investment deals up to $50 million in growth businesses in contrast to venture investing that is usually below $10 million.
Accel Partners is a venture capital firm that has been supporting entrepreneurs to build world-class companies. They have invested in several e-commerce start-ups in India. Their areas of investment are technology, internet, education and biotech.
Accel Partners have raised a large amount of equity funds in recent years and operated a joint venture with Kohlberg Kravis Roberts & Co to acquire middle rung technology and IT services firms.
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