After Freshworks success, Accel plans a bigger India fund

The firm is moving ahead with its seventh investment fund, looking to maintain the pace of 2021 that saw a record number of new Unicorns



Aditi Shrivastava

November 22, 2021

6 Min Read

When Accel invested $1 million in a fledgling Chennai-based startup focusing on software as a service (SaaS) in 2011, the segment was not considered a fast-growing business. 

In a decade, that cheque for Series A funding proved to be the best bet in India’s venture capital history and is now worth over $800 million. Accel’s pick was Freshworks (née Freshdesk), whose IPO debuted on Nasdaq this September.

Accel’s overall stake of 25% in the company post-listing, including shares held by its global growth funds, is worth over $2.5 billion. This was the first deal by Accel’s third India fund, which had raised $155 million in 2011. The shares held by this fund alone can fetch $1.26 billion.  




As a premium subscriber, you will get access to 3+ premium articles a week
Limited time offer
Launch price
/ Year
INR 3,999
Save 40% with our launch offer.
Please apply the code at checkout.

copyCopy Code

Upgrade Now



As a premium subscriber, you will get access to 3+ premium articles a week

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and also disruptive startups so you can make better decisions.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Filtering the Noise

New economy companies cannot always be evaluated using traditional methods. We analyze the relevant metrics, ask the tough questions to get you the right picture

For subscribers only

Premium Reads


View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.