Accel, one of the most prolific investment firms globally, has elevated Pratik Agarwal and Rachit Parekh to the role of Partner, the firm announced on April 23. Both joined the firm in 2019 as Principals and have since played a key role in shaping its early- and growth-stage investment strategy in India.
“Over the past six years, Rachit and Pratik have brought clarity, depth, and a founder-first mindset to every conversation,” Accel said in a statement. “They’ve sharpened our thinking, deepened our relationships, and upheld the long-term orientation that defines us.”
Parekh has led investments in companies such as Shivalik Small Finance Bank (Series A), Amagi (Series D and E), Niyo (Series C), Captain Fresh (Series A/B), Eruditus (Series E), and Swiggy (Series J), with a focus spanning fintech and enterprise tech.
Agarwal, meanwhile, has concentrated on early-stage bets in emerging categories such as AI and SaaS. His portfolio includes seed and early investments in startups like Appbrew, Citymall, Credgencis, Fashinza, Nymble, and Sarla Aviation.
Their elevation comes as Accel doubles down on its India investment strategy, following the close of its $650 million eighth India fund earlier this year. The fund, equal in size to its 2022 predecessor, will target “disruptive and category-defining” companies across sectors like AI, consumer, fintech, and manufacturing.
Parekh previously worked at McKinsey & Company and was part of the founding team at a venture-backed startup, where he led operations, hiring, fundraising, and partnerships. He is an alumnus of BITS Pilani and MIT.
Agarwal helped build the SaaS investing practice at SAIF Partners (now Elevation Capital) before joining Accel. He holds degrees from IIT Delhi and Harvard University.
“With their elevation, our partnership grows stronger—broader in perspective, deeper in insight, and more attuned to the future we’re building together,” the firm said.
Accel has backed some of India’s most successful startups, including Flipkart, Swiggy, Freshworks, Cure.fit, Mensa Brands, Myntra, BookMyShow, Urban Company, Zetwerk, and Zenoti. The firm has also seen several landmark exits.
It was the first institutional investor in Flipkart, coming in at a $4 million valuation. Accel held on to a 1.1 percent stake even after Walmart’s $16-billion acquisition in 2018—eventually fully exiting in 2023. The investment yielded cumulative returns of around $1.5–2 billion, translating to a 25–30x return on $60–80 million invested.
More recently, Swiggy’s $1.35-billion IPO—one of the largest since Paytm’s debut in 2021—delivered Accel a 35x return on its $20-million investment. Between 2015 and 2017, the firm backed the food delivery giant across six consecutive rounds as its valuation surged.
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