Matrix Partners India has rebranded its Indian arm as Z47 and its Chinese arm as MPC, while continuing its operations in the US under the name Matrix. Matrix, an early-stage venture capital fund, is headquartered in Boston and San Francisco. The new name, inspired by India's goal of becoming a developed nation by 2047, reflects a commitment to market clarity, responsiveness to regional dynamics, and a local competitive focus benefiting portfolio companies, investors, and partners.
In May 2023, Matrix launched a $450 million fund, later increasing the target to $525 million. Over the past year, the fund has supported over a dozen startups, including Neysa, InPrime, Krutrim SI Designs, Aampe, Atomic Work, Wootz.work, Stable Money, Grey Labs AI, and Scapia. This rebranding is the second significant rebranding in India's venture capital sector. In June 2023, Sequoia split into three firms focusing on the US and Europe, China, and India/Southeast Asia, rebranding its India and Southeast Asia operations as Peak XV Partners. Last month, early-stage accelerator fund 9Unicorns rebranded as 100Unicorns.
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