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Matrix Partners India promotes three principals to managing directors

Economic Times

Economic Times · 1y ago

Matrix Partners India promotes three principals to managing directors

Matrix Partners India has promoted three of its principals, Aakash Kumar, Pranay Desai, and Sudipto Sannigrahi, to managing directors. Each of the new managing directors has a background in both operations and venture capital. Kumar focuses on investments in frontier technologies like artificial intelligence and blockchain. Desai leads business-to-business software-as-a-service investments, and Sannigrahi's focus areas include B2B and B2C marketplaces, agritech, supply chains, semiconductors, electric vehicles, and deeptech. Matrix Partners India recently closed its India fund at $550 million, the largest corpus it has raised for the country since starting operations there in 2006.

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Elevation Capital Strengthens Leadership With Three Elevations

Inc42 · 10m ago

Elevation Capital Strengthens Leadership With Three Elevations

VC firm promotes principals Vaas Bhaskar and Chirag Chadha to partner positions. It also elevates Ashray Iyengar from vice president to principal. The partnership team now consists of nine members.

Matrix Partners India elevates Pranay Desai as Managing Director

Money Control

Money Control · 1y ago

Matrix Partners India elevates Pranay Desai as Managing Director

Matrix Partners India has promoted Pranay Desai to the position of Managing Director. Desai, who joined the firm in 2021, has been instrumental in expanding the company's presence in the Software-as-a-Service (SaaS) sector. Matrix Partners India recently increased the size of its fourth India-focused fund to $525 million and has backed notable unicorns such as Ola and Razorpay. This move reflects the growing focus on SaaS and AI investments by venture capital firms in India.

Eco-friendly packaging firm Cirkla raises $3 million in funding from Matrix Partners, Stellaris Venture

Economic Times

Economic Times · 1y ago

Eco-friendly packaging firm Cirkla raises $3 million in funding from Matrix Partners, Stellaris Venture

Cirkla, a US-based sustainable packaging company, has secured $3 million in a pre-seed funding round led by Matrix Partners India and Stellaris Venture Partners. The startup, founded earlier this year, offers eco-friendly packaging solutions to brands, helping them evaluate the environmental impact of packaging and create sustainable alternatives. Cirkla plans to use the funds to expand operations, enhance its salesforce, and invest in innovative technologies. The company aims to capitalize on the growing sustainable packaging sector, projected to exceed $500 billion by 2030. It follows a three-step strategy, including evaluating brand portfolios, creating designs, and managing global distribution.

Matrix Partners India Rebrands To Z47 As Part Of A Global Renaming Exercise

Inc42 · 1y ago

Matrix Partners India Rebrands To Z47 As Part Of A Global Renaming Exercise

Matrix Partners, a US-based venture capital firm, has announced a name change for its branches. Matrix Partners China will now be rebranded as MPC, while operations in the US will continue under the name Matrix. Additionally, Matrix Partners India will adopt the new name "Z47," inspired by India's goal of becoming a developed country by 2047. The firm aims to clarify the unique approach each team takes in their respective geographical markets.

Early investors set to gain from new-age IPO windfall

Economic Times

Economic Times · 1y ago

Early investors set to gain from new-age IPO windfall

Investors who got in early on the upcoming IPOs of FirstCry and Ola Electric could see significant returns. Companies like SoftBank, Tiger Global, Mahindra & Mahindra, and Matrix Partners India are expected to see their stock value surge by three to ten times. This means SoftBank's gains in FirstCry could exceed 3X based on its acquisition cost, while Mahindra & Mahindra could see a nearly 6X gain. Similarly, early backers of Ola Electric like Tiger Global and Matrix Partners India could achieve gains of more than 6X and nearly 10X, respectively. Latecomers may face notional losses due to moderated valuations. Founders of FirstCry and Ola Electric, Supam Maheshwari and Bhavish Aggarwal, are expected to accumulate significant wealth through the IPOs.

Karthik Gurumurthy Returns Money To Investors, Stalls Offline Venture Plan: Report

Inc42 · 1y ago

Karthik Gurumurthy Returns Money To Investors, Stalls Offline Venture Plan: Report

Gurumurthy, a startup entrepreneur, has returned the capital raised from investors, including Matrix Partners India. However, he is already working on a new startup and formulating a fresh plan. Gurumurthy had previously secured a funding of $3 million for his new offline retail venture with the support of Matrix Partners India and several angel investors.

Warburg Pincus names two MDs to expand India leadership team

VCCircle

VCCircle · 7m ago

Warburg Pincus names two MDs to expand India leadership team

Warburg Pincus, a private equity firm actively investing in India, has expanded its Indian leadership team by appointing two new managing directors, Hemant Mundra and Swapnil Sinha. These appointments increase the number of managing directors in Warburg’s India team to eight, enhancing the firm's strategic capabilities in the region. The move reflects Warburg Pincus's ongoing commitment and focus on the Indian market amid its growing investment activities in the country.

TPG, Matrix Partners, Peak XV strike $200-mn India exit

VCCircle

VCCircle · 1y ago

TPG, Matrix Partners, Peak XV strike $200-mn India exit

TPG, along with Matrix Partners and Peak XV, has completed a $200 million exit from their investments in India. The private equity group TPG has been active in the Indian market, making multiple investments and now finalizing its fourth exit. This latest exit is in collaboration with alternative investment firms Matrix Partners and Peak XV.

Norwest Closes 17th Fund At $3 Bn

Inc42 · 1y ago

Norwest Closes 17th Fund At $3 Bn

Norwest Venture Partners has closed its 17th fund at $3 billion, which will be used to invest in startups across sectors such as enterprise tech, consumer, and healthcare in India, Israel, and the US. The firm has backed 43 Indian companies since 2009, including Amagi, Mensa Brands, Swiggy, and Xpressbees. Nikhil Kookada and Ankit Prasad have been promoted to principals at Norwest's India arm. The fund follows the $3 billion Norwest Venture Partners XVI fund raised in 2021. Norwest has invested in over 700 companies and manages more than $15.5 billion in capital.

Two MDs quit Peak XV Partners after long tenures

VCCircle

VCCircle · 6m ago

Two MDs quit Peak XV Partners after long tenures

Two managing directors at Peak XV Partners, Shailesh Lakhani and Abheek Anand, are stepping down after more than a decade at the firm, previously Sequoia India and Southeast Asia. Lakhani, who joined in 2007, oversaw investments in sectors like consumer tech and fintech. Anand, who joined in 2012, will move to San Francisco aiming to start a venture in artificial intelligence. Both plan a career break before pursuing new opportunities.

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