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Ola backer Matrix Partners sees partner-level exit

VCCircle

VCCircle · 1y ago

Ola backer Matrix Partners sees partner-level exit

A partner-level executive is leaving Matrix Partners India, a venture capital firm and active investor in Indian startups. The firm has invested in popular startups like Ola, Dailyhunt, and Razorpay. The departure of the executive could impact the firm's future investments and strategy.

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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.

Ola Electric IPO: Matrix Partners Makes 9.2X Gains Tiger Global Mints 6.5X Returns

Inc42 · 1y ago

Ola Electric IPO: Matrix Partners Makes 9.2X Gains Tiger Global Mints 6.5X Returns

Matrix Partners India Investments III, LLC, an early backer of Ola Electric, is set to make a return of about 9.2X as it sells 37.27 lakh shares as part of the company's upcoming IPO. The fund currently holds 12.66 crore shares in Ola Electric at an average price of INR 8.22 per share. The IPO saw lower demand than expected, leading to uncertainty about the listing price of the company's shares. Analysts advise risk-taking investors to hold on to their shares for the long term.

Rebranding was a natural evolution for us: Avnish Bajaj on Matrix’s split

Economic Times

Economic Times · 11m ago

Rebranding was a natural evolution for us: Avnish Bajaj on Matrix’s split

Matrix Partners India, a venture capital firm, announced its decision to go independent and rebrand itself as Z47. The Mumbai-based firm, co-founded by Avnish Bajaj and Rishi Navani in 2006, has been an early backer of successful startups like Ola, Ola Electric, OfBusiness, and Razorpay. Bajaj stated that the rebranding was a natural evolution for the firm, which has operated in a decentralized manner. The Indian venture capital market has experienced a downturn in recent years, with limited liquidity and disappointing exits. However, with recent IPOs and strong company performance, there is hope for improvement in the future.

Evolvence's Kumar on change in Indian PE/VC scenario over the years, exit strategy and more

VCCircle

VCCircle · 8m ago

Evolvence's Kumar on change in Indian PE/VC scenario over the years, exit strategy and more

Evolvence India, a hybrid investment firm and limited partner backer for venture capital firms, is raising its fifth investment vehicle of $300 million. The firm's managing partner, Ajit Kumar, discusses the changing landscape of the Indian private equity and venture capital industry, as well as exit strategies. Evolvence India has previously supported venture capital firms like Lighhouse Funds and Blume Ventures.

Aavishkaar Capital partner Sushma Kaushik quits to take on new challenges

Inc42 · 1y ago

Aavishkaar Capital partner Sushma Kaushik quits to take on new challenges

Sushma Kaushik, partner at Aavishkaar Capital, has left the venture capital firm as partners and fund managers continue to exit such firms in India. Kaushik joined Aavishkaar Capital in 2011 and became a partner in 2019. In a LinkedIn post, she expressed excitement about taking on new challenges and continuing to build businesses and invest in the future. The venture capital ecosystem in India has witnessed multiple partner-level departures in recent years, emphasizing a slowdown in investments and troubles within portfolio companies.

Grapevine: Ola seeks investor nod for listing; BlackRock among bidders in Hyundai India IPO

VCCircle

VCCircle · 10m ago

Grapevine: Ola seeks investor nod for listing; BlackRock among bidders in Hyundai India IPO

- Ola seeks investor approval for a change in registration to a public company, potentially paving the way for an IPO. - Investors including SoftBank, Tiger Global, and Z47 (formerly Matrix Partner India) back Ola. - The management of Ola is in the process of selecting bankers for the IPO. - BlackRock is among the bidders for the IPO of Hyundai India. - The Arc reported on Ola's move towards a potential listing and IPO.

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.

Matrix Partners India: Scaling Consumer and Enterprise Startups

Inshorts · 3m ago

Matrix Partners India: Scaling Consumer and Enterprise Startups

Since its inception in 2006, Matrix Partners India has funded over 160 companies, with a strong emphasis on sectors like consumer internet, fintech, and SaaS. Its portfolio features prominent names such as Razorpay and Ola Electric, underscoring its sharp investment strategy. By backing disruptive ventures early, Matrix continues to shape the next generation of market leaders in India.

Ola group chief people officer N Balachandar quits

Economic Times

Economic Times · 8m ago

Ola group chief people officer N Balachandar quits

N Balachandar, the SVP and Group Chief People Officer at Ola Group, has resigned from his position. He was previously the Chief Human Resources Officer of Ola Electric and was later promoted to the group level. Balachandar has reportedly started his own management consultancy firm. This marks another senior-level exit at Ola, following resignations from executives in various divisions. Ola Electric had also recently laid off several employees amid market share decline and other challenges. Ola is facing tough competition in the ride-hailing and electric vehicle spaces.

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.

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