Matrix Partners, a premier venture capital firm with a 30-year history, has announced the close of two new funds: Matrix Partners China II at USD350 million and Matrix Partners India II at USD300 million. This brings the total international assets under management to USD650 million in China and USD600 million in India. The new funds demonstrate the firm’s strength and investors’ confidence in these international markets.
"Matrix continues to be very excited about the scale of opportunity in China and India," says Timothy A Barrows (pictured), Managing Partner of Matrix Partners. "Both countries are experiencing tremendous growth and there continues to be an enormous need for many new products and services. Our international teams remain committed to working closely with the very best entrepreneurs to cultivate new ideas and build great companies."
In the short time since its 2008 founding, Matrix Partners China has become a leader in early-stage investing in the Chinese market. The firm targets companies in TMT and health care, and has been especially active in Internet and mobile. Its Beijing-based investment team, led by David Zhang, David Su and Bo Shao has been a part of the creation and growth of many influential businesses, including Eachnet, Focus Media, Bona, Edan and 21ViaNet.
As the first leading venture capital firm to establish a fund in India in 2006, Matrix Partners was early to recognise the tremendous potential in India. Based in Mumbai, the firm focuses its investments across significant growth sectors, including Internet and mobile, education, and financial, healthcare and infrastructure services. Matrix Partners India’s investment team is led by Avnish Bajaj, the former co-founder, Chairman and CEO of India’s largest online marketplace Baazee.com (acquired by eBay), and Rishi Navani, who previously served as Managing Director at WestBridge Capital Partners.
