<article>Early-stage venture capital firm <a href="http://dealstreetasia.com/tag/matrix" target="_blank" rel="noopener">Matrix Partners India</a> today announced the closing of its third fund with committed capital of over $300 million.</article>

Early-stage venture capital firm <a href="http://dealstreetasia.com/tag/matrix" target="_blank" rel="noopener">Matrix Partners India</a> today announced the closing of its third fund with committed capital of over $300 million.
According to an official statement, this latest fund follows the $100-million-plus extension fund closed in 2016.
In August last year, DEALSTREETASIA <a href="https://www.dealstreetasia.com/stories/matrix-partners-india-third-vc-fund-104862/" target="_blank" rel="noopener">first reported </a>that the Bengaluru-based investment firm had raised $300 million for its new fund from 43 investors.
This was followed by an additional $20 million in commitments disclosed in December, also <a href="http://Matrix Partners India raises $21m more for third fund, taking total tally to $321m Read more at: https://www.dealstreetasia.com/stories/matrix-partners-india-114311/" target="_blank" rel="noopener">reported first</a> by DEALSTREETASIA.
According to a regulatory filing, the fund received commitments of $320,707,071 from a total of 80 investors by mid-December. Matrix Partners India counts leading university endowments, foundations and financial institutions across North America, Europe and the Middle East as its investors.
Matrix Partners India, which operates as a subsidiary of Matrix Partners, specialises in seed stage, early stage, Series A, early growth stage, growth capital and follow-on investments. It selectively makes later-stage investments. The firm’s advisory arm is led by Avnish Bajaj, Tarun Davda and Vikram Vaidyanathan.
Matrix’s first fund in India was set up in August 2006 by Bajaj and Rishi Navani, who has now left to float his own firm Epiq Capital with a $150-million corpus. The first fund was later topped up to $300 million. Subsequently, In 2011, Matrix raised its second fund, which also had a corpus of $300 million. According to reports, Matrix India decided not to raise a full-sized fund in early 2016 and instead chose to top up its second fund with an additional $110 million.
Its portfolio includes Ola, Quikr, Practo, Five Star Business Finance, Dailyhunt, Mswipe, Limeroad, OfBusiness and Treebo. among others. Its recent investments include DailyNinja, Itilite, MoEngage, Stanza Living, Vogo, and Ziploan.
The VC firm claims to have approximately $1 billion under management currently.
“This is an exciting time to be an entrepreneur in India – mobile internet led leapfrogging is underway across sectors and increasing GDP per capita and consumerism will have a multiplier effect on scaling businesses,” said founder and managing partner Avnish Bajaj.
A number of India-focused venture capital firms have reached major milestones in their fundraising efforts recently, led by Sequoia Capital India which closed its sixth fund at $695 million targeting early- and growth-stage investments across India and Southeast Asia (SEA).
Another early-stage investor, Endiya Partners, is reportedly raising a Rs 500-crore ($68.5 million) fund while impact investor Aavishkaar is out to raise $300 million. Quadria-backed HealthQuad is also in the market to raise $100 million.
Most recently, another early-stage venture capital fund, 021 Capital, was said to have reached the first close of its maiden fund at around $32 million.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/valuations-ahead-of-fundamentals-is-just-froth-avnish-bajaj-matrix-partners-india-115492/" target="_blank" rel="noopener">Valuations ahead of fundamentals is just froth: Avnish Bajaj, Matrix Partners India</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/matrix-partners-india-114311/" target="_blank" rel="noopener">Matrix Partners India raises $21m more for third fund, taking total tally to $321m</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/matrix-partners-india-third-vc-fund-104862/" target="_blank" rel="noopener">Matrix Partners India closes third VC fund at $300m</a>

The subsidiary of Matrix Partners specialises in seed stage, early stage, Series A, early growth stage, growth capital and follow-on investments.

Matrix Partners India closes third fund with over $300m in commitments

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Matrix Partners India closes third fund with over $300m in commitments

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief