Flipkart's early backer Accel, one of the most prolific venture investors in the country, is on course to raise a $400-500 million fifth India-focused fund, which is expected to close by the year-end. Accel's new fund comes at a time when the top six VCs have amassed more than $2.5 billion in the past year to be ploughed into Indian startups, raising hopes that the sluggishness in deal activity is temporary.