Venture capital firm Matrix Partners India has rebranded its Indian operations as Z47, while its Chinese arm will now be known as MPC. The firm’s U.S. operations will retain the Matrix name, continuing as an early-stage venture capital fund headquartered in Boston and San Francisco.
The name change for the Indian arm is inspired by India’s aspirations to become a developed nation by 2047. Matrix Partners emphasized that the rebranding reflects a commitment to clarity in the marketplace and responsiveness to regional market dynamics. This strategic move aims to enhance local competitiveness, ultimately benefiting portfolio companies, investors, and partners.
In May 2023, Matrix launched a $450 million fund, later extending the target size to $525 million. Over the past year, the fund has invested in over a dozen startups, including Neysa, InPrime, Krutrim SI Designs, Aampe, Atomic Work, Wootz.work, Stable Money, Grey Labs AI, and Scapia.
The rebranding of Matrix Partners India follows a similar move by Silicon Valley-based Sequoia, which restructured into three separate firms in June 2023 to focus on different regions. Sequoia India and Southeast Asia were rebranded as Peak XV Partners. Additionally, early-stage accelerator fund 9Unicorns rebranded as 100Unicorns last month.
Matrix’s rebranding efforts underscore the firm’s strategic alignment with India’s long-term growth vision, highlighting its dedication to fostering innovation and entrepreneurship in the region.
