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Matrix Partners increases its fund size to $450 Mn in India
By siliconindia
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Wednesday, 07 November 2007, 20:30 IST
Bangalore: An associate of Matrix Partners of the U.S. and an early stage venture capital fund in India, Matrix Partners India has expanded its consumer services fund from $150 million to about $450 million.
The venture and growth capital investment firm will now make larger growth capital investments of up to $30 million in consumer services businesses while continuing to make smaller venture capital investments in early stage companies.
Matrix's investment team currently includes six professionals from Mumbai. Asklaila, itzcash, Seventymm and Yo! China are some of the companies in which it has made investments.
Avnish Bajaj, co-founder and Managing Director, said, "In our first year of existence, we have made five investments in a variety of companies which play to the core of our consumer services thesis."
"We have also uncovered a number of proprietary growth equity investment opportunities, which include greenfield opportunities with significant capital requirements, as well as partnerships with Indian corporate houses and foreign companies trying to enter the Indian market. We will now look to invest up to $30 million in select companies," he added.