Mumbai: Mumbai-based global venture capital and growth equity firm, Accel Partners has raised $155 million for seed and early-stage fund in India. The fund saw the participation of top investors from across North America, Europe, and Asia. The fund would be used for the development in various sectors: Internet services, digital media, SaaS and enterprise technologies, mobile, healthcare and education, and other similar high-growth sectors. Founded in 1983, Accel Partners has made investments in growth equity opportunities across the globe and manages $3 billion in funds for the later-stage growth investments, apart from early-stage companies. According to Subrata Mitra, Partner, Accel Partners, that the seed and early-stage markets are under-served and attract relatively smaller amounts of capital, when compares to the traditional venture capital and growth equity. There is a significant increase in the entrepreneurial activity in the past few years, majorly from the Indian internet companies. Accel Partners is led by four partners: Mahendran Balachandran, Shekhar Kirani, Subrata Mitra, and Prashanth Prakash; and 11 investment professionals in India, and has made investments in over 300 companies which include Dropbox, Facebook, Groupon and many others. In India, the significant investments made by Accel Partners include, Flipkart, Myntra and many others. Accel feels that their expertise and experience would make them the rpeferred partner for many excellent entrepreneurs in the seed and early-stage.