Matrix Partners India raises third fund of $300M

Mumbai/Bangalore/Delhi '“ January 9, 2019: Matrix Partners India, one of India's leading early stage venture capital firms, announced the closing of its third fund with committed capital of over $300 million. This follows the over $100 million Extension fund closed in 2016.

Matrix India's current portfolio includes market leading companies like Ola, Quikr, Practo, Five Star Business Finance, Dailyhunt, Mswipe, Limeroad, OfBusiness and Treebo among others.

The firm will continue to follow its existing investment strategy of backing exceptional founders in their effort to build market leading companies at the seed, early and early growth stages across sectors. The firm's advisory arm is led by Avnish Bajaj, Tarun Davda and Vikram Vaidyanathan. Matrix Partners India has made recent investments in DailyNinja, Itilite, MoEngage, Stanza Living, Vogo, and Ziploan.

"We are grateful for the continued support of our limited partners. This is an exciting time to be an entrepreneur in India '“ mobile internet led leapfrogging is underway across sectors and increasing GDP per capita and consumerism will have a multiplier effect on scaling businesses. We also thank the founders in our portfolio and those outside for being our inspiration and supporters on this journey together.' commented Avnish Bajaj.

Matrix Partners India counts leading university endowments, foundations and financial institutions across North America, Europe and the Middle East as its investors.

About Matrix Partners India:
Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Treebo (digital hotel chain), Limeroad (social e-commerce platform), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), and Cloudnine Hospitals (leading chain of maternity hospitals), among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India. Further information is available at www.matrixpartners.in