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Global venture capital firm Accel announced a new $4 billion global late-stage fund on Tuesday as it aims to double down on investing in companies within its portfolio and new startups.

In a blog post, Accel said, “This fund is a critical element in our global strategy, and will provide expansion capital to promising companies within our portfolio worldwide, as well as to aspiring companies new to the Accel family.”

In fact, this new global late-stage fund will complement its early-stage and growth-stage funds, even if it remains focused on investments at the seed to Series A stage, Accel said.

Accel has been a marquee player in the Indian startup ecosystem, especially as an early investor in some of the leading names, including Flipkart, Freshworks, and Swiggy, to name a few.

This interesting development comes at a time when some of Accel’s peers like Tiger Global Management and SoftBank have either slowed their investments in startups or have not announced any new funds, owing to the macroeconomic conditions.

The blog post noted, “Our decades-long experience has also taught us the importance of patience and discipline—especially during periods of volatility and change like we are experiencing today. Accel has navigated multiple economic cycles before, across many different regions and industries. Through it all, we have been persistent, steadfast, and energised by the goal of turning emerging technology companies into global enduring businesses, both in good times and bad.”

At the same time, other VC firms like Sequoia Capital announced a $2.85 billion fund, where it will invest $2 billion in India, while Matrix Partners launched a $450 million fund.