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April 29, 2011

New Fund Alert: Matrix Partners India closes $300-M 2nd fund

From the Press Release:

Matrix Partners India today announced it has closed a $300 million second fund. With the closing of this fund the firm has $600 million under management across two funds. The firm will continue to make early and growth stage investments up to $30 million in companies focused on the Indian domestic market in the internet/mobile, education, financial services, healthcare and infrastructure services sectors. The firm currently has a portfolio of 16 companies including Muthoot Finance which recently closed its IPO offering as well as TreeHouse Education which has filed for an IPO. In both Muthoot Finance and TreeHouse Education, the firm is the first institutional investor and largest institutional shareholder.

“We are excited about the continued support from our limited partners for our proven strategy of early and growth stage investing across our focus sectors. We intend to continue to keep investing behind outstanding entrepreneurs with the passion for building excellent businesses.” said Avnish Bajaj, Managing Director, Matrix India.

"The closing of our second fund is a significant milestone in our journey to build India’s preeminent investment firm. We appreciate the strong support of our marquee limited partner base and look forward to partnering with category defining companies in the Indian market.” said Rishi Navani, Managing Director, Matrix India.

About Matrix Partners India:
Matrix Partners India is an investment firm with $600 million under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to $30 million in a company depending on its stage of development and has invested in several category leading companies including Muthoot Finance (gold loan NBFC), Tree House Education (preschools and K-12 school management), BSFL/BASIX (microfinance institution), Chetas Control Systems (water metering solutions), Center for Sight (eye care chain), FIITJEE (engineering test preparation company) and Ver se Innovation (mobile classifieds) amongst others. Matrix Partners has a global network of funds investing in the US, China and India with $3 billion under management. Further information is available at www.matrixpartners.in