|By PR Newswire||
|April 29, 2011 09:33 AM EDT||
WALTHAM, Mass., April 29, 2011 /PRNewswire/ -- Matrix Partners, a premier venture capital firm with a 30-year history, today announced the close of two new funds: Matrix Partners China II at $350 million and Matrix Partners India II at $300 million. This brings the total international assets under management to $650 million in China and $600 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," said Timothy A. Barrows, 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 recognize 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.
For more information about Matrix Partners' latest investments, please visit www.matrixpartners.com.
About Matrix Partners:
Matrix Partners is a premier venture capital firm that has generated outstanding returns for over three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry's top performing funds of all time. Matrix Partners has offices in Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. The firm has been fortunate to have invested in game-changing, industry-leading businesses such as Apple Computer, Sandisk, Veritas, Sycamore Networks, Phone.com, Starent Networks, JBoss and Gilt Groupe.
GMK Communications for Matrix Partners
SOURCE Matrix Partners