Matrix partners launches $150 mln capital fund in India

By Staff
|
Google Oneindia News

New Delhi, Aug 1 (UNI) Matrix Partners India today announced the launch of a 150 million dollar fund, the first consumer services risk capital corpus in India, targeting the growing Internet, mobile, financial servicves, media and entertainment sectors.

''The fund, in partnership with Matrix Partners US, will be channelised within 7-10 years, and will help entrepreneurs build market leading companies in the consumer services domain,'' Matrix Partners India Founding MD Avnish Bajaj told reporters here.

In addition, Matrix India, through the fund, will also put in amounts ranging between Rs 2 crore to Rs 50 crore in companies, depending on the stage of development.

On why India was chosen as an investment hub, Mr Bajaj said, ''We are focussed on presenting a unique proposition to the emerging businesses in the consumer services sector. The domestic consumer services industry is the key driver of India's GDP growth. The industry is set to witness an era of innovative business models and significant value creation.'' We are in a process of identifying major new Indian markets and build the market leading companies, he added.

The company would help Indian entrepreneurs by providing them with business advice, recruiting top talents, business development and taking strategic initiatives including raising private capital and IPO etc, Matrix Partners Founding MD Rishi Navani said.

Matrix partners US is the top performing venture firm over the past two decades, with assets under management of more than 3 billion dollar.

Matrix has also come up with a Hedge Fund called 'Matrix Capital' in an initiative to set up a separate Indian fund and pay a significant focus on Indian equity market.

Besides, Matrix Us and MAtrix Capital will be assisting promising Indian companies requiring a Rs 100+ crore capital.

UNI DKS RA RN1729

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