Accel has raised $3.5 billion across four early-stage funds, including an oversubscribed $550 million India vehicle, a $1.35 billion global expansion fund for larger early rounds and follow-on investments, and $800 million funds for the U.S. and Europe and Israel. More than 55% of its previous $650 million India fund remains available, and Accel expects to begin deploying the new India capital in 2027 while continuing to invest from the earlier pool. The firm says AI is becoming a horizontal technology and sees India's biggest opening in applications, infrastructure and software built on top of existing large language models rather than in direct foundation-model challengers, while partner Harry Nelis said founders are raising money faster than ever at early stages even as risks remain. Accel has backed AI companies including Anthropic, Cursor and Perplexity, and the fundraising comes as Peak XV Partners, General Catalyst and Lightspeed Venture Partners also sharpen their India commitments.