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Accel ups game in Southeast Asia and India with $650m fund

U.S. venture capitalist plans more deals in region despite IPO market volatility

Silicon Valley venture capital firm Accel earned its spurs through investments in startups such as India's Flipkart and Swiggy. (Source photos by screenshot from Accel's website, Getty Images and Reuters)

BENGALURU -- Silicon Valley venture capital firm Accel is stepping up its investment in Southeast Asia after testing the waters there over the last few years, the latest in a wave of global investors sharpening their focus on the region's burgeoning internet economy.

The company, which was an early backer of Facebook, Spotify and Dropbox in the U.S., on Wednesday launched a $650 million fund to support startups in India and Southeast Asia. The early stage investor previously raised six India-focused funds totaling $1.6 billion.

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