India: Avnish Bajaj steers Matrix to pure-play VC shop, to hit fundraising road in 2017

It is unusual for a venture capital firm focused on India’s hyperactive start-up market to not raise a fund every three or four years. In April, Matrix Partners India completed five years since it raised its last fund. A new fund, the Mumbai-based firm’s third for this market, was in order. But instead of pitching for one with its limited partners, it decided to go with a $110 million top-up on its existing $300 million fund.