Matrix Partners

Matrix Partners is a US-based private equity investment firm focusing on venture capital investments. The firm invests in seed and early-stage companies in the United States and India, particularly in the software, communications, semiconductors, data storage, Internet or wireless sectors.

Not to be confused with Matrix Chambers.
Matrix Partners
TypePrivate ownership
IndustryPrivate equity
PredecessorHellman Ferri Investment Associates (1977 to 1982)
Founded1977
FounderPaul Ferri
HeadquartersPalo Alto, California, United States
AUM$4 billion (2019)[1]
Websitewww.matrixpartners.com

The firm is headquartered in Palo Alto, California and has offices in Cambridge, Massachusetts, Mumbai, India and Beijing, China.

History

Founded in 1977, Matrix was an active player in the development of the venture capital industry in the 1980s. The firm's direct predecessor, Hellman Ferri Investment Associates[2] (1977 to 1982), was founded by Paul J. Ferri and Warren Hellman. In 1982, Ferri and Hellman split ways and Ferri went to focus on early-stage companies, forming Matrix in Boston, Massachusetts while Hellman founded the San Francisco-based private equity firm, Hellman & Friedman which focused on later-stage firm investments.[3]

Among the firm's notable investments, Matrix Partners was an early-stage investor in Apple Inc., Arrowpoint Communications, Digium, JBoss, JustFab, PSINet, SanDisk, Silverstream Software, TheLadders.com, Sonus Networks, Tivoli Software, Tollbridge Technologies, VERITAS Software, Vermeer Technologies Incorporated, and Xilinx.

In 1985, Matrix raised its first institutional private equity fund. In 2001, Matrix Partners completed fundraising for Matrix Partners VII, a $1 billion venture capital fund.[4] In 2006, Matrix raised Matrix Partners VIII fund, with $445 million of investor commitments.[5] In 2006, Matrix also raised a separate $150 million India fund.[6][7] In July 2009, Matrix raised Matrix IX fund with $600 million.[8] As of 2018, the firm has raised eleven U.S venture capital funds and five China focused funds.[9]

Investments

Since 1977, Matrix has invested in Apple Computer, Alteon WebSystems, and Office Club.[10] They have also invested in companies such as Ambarella, Apartment List,[11] Carbon Black,[12] CloudBees,[13] DiDi,[14] Ele.me,[15] Gilt Groupe, HubSpot,[16] JustFab,[17] Kinnek,[18] Mitro, Momo,[19] Namely,[20] Quora,[21] TechStyle,[22] Zendesk,[23] sqrrl, BillFloat, Inc, Klook, Grownout[24] and Canva.[25][26][27]

In January 2019 the company announced new round of investments at total value of $300 million.[28]

References
  1. https://www.matrixpartners.com/about/
  2. "A Casual Approach to Success - Alumni - Harvard Business School". www.alumni.hbs.edu. Retrieved 2018-09-21.
  3. "Exclusive: Matrix Partners raises new VC fund". Fortune. Retrieved 2018-09-21.
  4. $1bn fund for Matrix Partners Archived 2008-12-01 at the Wayback Machine. AltAssets, 2001
  5. Matrix makes plans for $445m fund.(Matrix Partners raises funds for its new fund Matrix Partners VIII). Private Equity Week, 2006
  6. Matrix Partners closes India fund on $150m Archived 2006-10-16 at the Wayback Machine. AltAssets, 2006.
  7. Matrix Closes New India Fund. New York Times, 2006
  8. http://www.matrixpartners.com/site/press_detail/343/
  9. "Xconomy: Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big". Xconomy. 2018-06-21. Retrieved 2018-09-21.
  10. "Matrix Partners — About Us".
  11. "Apartment List snaps up $30 mln Series B - PE Hub". PE Hub. 2016-11-04. Retrieved 2016-11-04.
  12. "Head of tech investment firm buys North Palm Beach mansion for $10M". www.bizjournals.com. Retrieved 2019-05-14.
  13. "CloudBees - Investors". Crunchbase. Retrieved 2019-05-16.
  14. Yuan, Li (2017-12-15). "China's Wild Bunch: Startup Investors Are Cashed-Up Cowboys". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-05-16.
  15. "Source: Ele.me's reported $630M funding was actually 'less than $400M'". VentureBeat. 2015-09-04. Retrieved 2019-05-16.
  16. "HubSpot". Crunchbase. Retrieved 2019-05-16.
  17. https://www.crunchbase.com/organization/justfabulous
  18. "Kinnek". Crunchbase. Retrieved 2019-05-16.
  19. "Matrix Partners China Closes Third Fund". GlobeNewswire News Room. 2014-04-18. Retrieved 2019-05-16.
  20. "Namely Secures $50M Series D Round". www.vcnewsdaily.com. Retrieved 2019-05-16.
  21. "Quora - Investors". Crunchbase. Retrieved 2019-06-27.
  22. "TechStyle Fashion Group". Crunchbase. Retrieved 2019-06-27.
  23. "Zendesk". Crunchbase. Retrieved 2019-06-27.
  24. Cutler, Kim-Mai (Sep 5, 2013). "Get Your Friends, Co-Workers Out Of "Password Remembering Hell" With Matrix-Backed Mitro". TechCrunch.
  25. "Why Matrix?".
  26. "Canva Investors".
  27. https://venturebeat.com/2010/07/14/billfloat-bills/
  28. "Matrix India announces new $300M fund". TechCrunch. Retrieved 2019-01-09.
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