The Hindu Business Line : Matrix launches $150-m fund

Matrix Partners (India) has the launch of a $150- million fund, through which the venture capital firm will invest in the Internet, mobile, financial service, media and entertainment sectors.

"The fund, in partnership with Matrix Partners (US), will be channelised within seven-10 years and will help entrepreneurs build market-leading companies in the consumer services domain," the Matrix Partners (India) Founding Managing Director, Mr Avnish Bajaj, said.

The firm will be investing between Rs 2 crore and Rs 50 crore in various companies, depending on the stage of development.

"We are focussed on presenting a unique proposition to the emerging businesses in the consumer services sector. The industry is set to witness an era of innovative business models and significant value creation," Mr Bajaj said.

The firm would further help Indian entrepreneurs by providing them with business advice, recruiting top talent, business development and taking strategic initiatives, including raising private capital and IPO etc., the Matrix Partners Founding Managing Director, Mr Rishi Navani, said.

Matrix also has a hedge fund called `Matrix Capital', which till now has invested about $100 million in the Indian equity markets.

Further, both Matrix (US) and Matrix Capital will assist promising Indian companies requiring more than Rs 100 crore capital.