Matrix Partners India, one of the country’s best-known early-stage venture capital (VC) investors, announced a flurry of deals in ventures ranging from software-as-a-service to online lending in January. It also closed a $300 million fund in the first month of 2019.
India’s next wave of startups is expected to see more experienced founders and more complex platforms, products and services coming to the fore. “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,” says Avnish Bajaj, who leads Matrix Partner India with two others.
Deals announced by Matrix include investments in LiquiLoans, Itilite and Zoomtail. LiquiLoans is a facilitator of online lending; Itilite is a software-on-the-cloud provider for travel booking and management while Zoomtail provides an instant-messaging-based platform for small fashion retailers to discover the latest trends and helps them manage their inventories.
Matrix Partners India’s existing investments include Ola, Quikr, Practo, Five Star Business Finance, Dailyhunt, Mswipe, Limeroad, OfBusiness and Treebo. The VC firm announced its third fund on January 9.
(This story appears in the 15 February, 2019 issue of Forbes India. To visit our Archives, click here.)