Accel Partners launches Accel India Venture Fund
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Bangalore: Accel Partners, a venture capital firm based in U.S., has announced the formation of Accel India Venture Fund with a focus on early-stage venture investing and delivering strategic and operational guidance to Indian entrepreneurs. Accel India will be managed by four experienced partners who currently are the Partners of Erasmic Venture Fund (EVF). They are Subrata Mitra, Prashanth Prakash, Mahendran Balachandran and Gagan Kumar. EVF is a seed and early-stage investment groups in India, with a portfolio including Mu Sigma, Inbiopro, HolidayIQ, Kaati Zone, Myntra, Sconce, Virident and many other exciting new ventures. "Accel sees a need and opportunity for an active approach to early-stage investment in India," said Peter Wagner, Partner at Accel Partners. "We are thrilled to be working with Subrata, Prashanth, Mahendran and Gagan, who have demonstrated their ability to add significant value throughout a new venture's growth, beginning at its very earliest stages." "The combination of the powerful Accel platform and our team's deep involvement in the local entrepreneurial process will help create a new generation of category-defining companies in India," said Prashanth Prakash, Partner at Accel India Venture Fund. Accel was created in 1983 as a firm focused on Silicon Valley but also investing selectively internationally, particularly in Israel. In 2001, Accel London was formed. It was a distinct fund with a team of partners dedicated to venture capital in Europe and Israel. In 2005, IDG-Accel China Growth Fund was launched as a joint effort between Accel and IDGVC China, which has established itself as one of that country's premier venture firms. Accel India Venture Fund will seek to work with India's best entrepreneurs from the very earliest stages of the new venture creation process. This will include seed-stage investing as well as investments in growing companies that have already begun their operations.

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