Multi-stage VC, Bengaluru

Matrix Partners India

Venture capital firm · Bengaluru · Founded 2006

Quick read

Matrix Partners India (also known as Z47) is a multi-stage VC founded in 2006, targeting seed through early-growth stage startups in India's consumer and enterprise markets. Managing over $1 billion across funds, it backs founders across sectors with a stated 'foundersfirst!' philosophy. The firm extended its most recent fund from $450M to $525M in May 2023.

Key facts

Founded
2006
Founders
Avnish Bajaj, Rishi Navani
Employees
11-50
Sectors
generalist, consumer, enterprise, ai
Website
matrixpartners.in

Investment thesis

Matrix Partners India backs seed, early, and early-growth stage startups in India's consumer and enterprise markets, writing cheques of $10M–$50M on average with a 'foundersfirst!' philosophy that prioritises deep partnership with founders across sectors.

Recent activity

  • Feb 2026investment
    Matrix Partners India's latest recorded investment was in Stable Money, a Series B-II round closed on February 18, 2026, according to CBInsights data. cbinsights.com
  • May 2023fundraise
    The firm's Indian arm extended its then-current fund from $450 million to $525 million, targeting the South Asian market. en.wikipedia.org
  • Sep 2023leadership
    Matrix Partners India promoted three principals — Aakash Kumar, Pranay Desai, and Sudipto Sannigrahi — to managing directors. Kumar focuses on AI, gaming, and blockchain; Desai leads B2B SaaS; Sannigrahi covers B2B and B2C marketplaces, agritech, supply chains, and deeptech. economictimes.indiatimes.com
  • 2024press
    The firm rebranded as Z47, a name inspired by India's goal of becoming a developed nation by 2047. The new identity kept the "Founders First" investment philosophy intact. moneycontrol.com
  • Mar 2024press
    Z47 (formerly Matrix Partners India) co-hosted a panel on India's electronics and semiconductor future in Gurugram, featuring representatives from BCG, Micron India, Foxconn India, MEITY's India Semiconductor Mission, and Krutrim. linkedin.com
  • 2023investment
    Scapia raised $9 million in a seed round led by Matrix Partners India to scale its co-branded travel credit card business. The firm cited India's projected growth to 200 million credit cards by 2030 as the investment rationale. business-standard.com
  • Jul 2024press
    Matrix Partners India rebranded to Z47, moving to a new identity and social handle @z47_vc. The legal entity remains Matrix Partners India Management, LLC. crunchbase.com
  • Apr 2025investment
    Z47 (via Matrix Partners India Fund I) made its latest recorded investment in Scapia, a financial software company, on 2 April 2025. pitchbook.com
  • Mar 2024press
    Matrix Partners India hosted a panel on the future of electronics and semiconductors in India, featuring executives from BCG, Micron India, Bharat FIH (Foxconn India), MEITY's India Semiconductor Mission, and Krutrim. linkedin.com
  • Feb 2026investment
    CBInsights records Matrix Partners India's latest investment as a Series B-II round in Stable Money on February 18, 2026. cbinsights.com
  • 2024leadership
    Matrix Partners India rebranded to Z47; the firm's X account now directs followers to @z47_vc and was updated in July 2024. x.com
  • Mar 2024press
    Z47 (Matrix Partners India) co-hosted a panel on India's electronics and semiconductors sector in Gurugram on March 12, 2024, featuring representatives from BCG, Micron India, Foxconn India, MEITY's India Semiconductor Mission, and Krutrim. linkedin.com

Notable investments

Key people

Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.

  • Tarun Davda · Partner & Managing Director
    LinkedIn
  • Aakash Kumar · Investor
    LinkedIn
  • Avnish Bajaj · Founder & Managing Director
  • Vikram Vaidyanathan · Managing Director
  • Rajinder Balaraman · Director

Sources

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Frequently asked

What is Matrix Partners India?+

Matrix Partners India (also known as Z47) is a multi-stage VC founded in 2006, targeting seed through early-growth stage startups in India's consumer and enterprise markets. Managing over $1 billion across funds, it backs founders across sectors with a stated 'foundersfirst!

Where is Matrix Partners India headquartered?+

Matrix Partners India is headquartered in Bengaluru, India.

When was Matrix Partners India founded?+

Matrix Partners India was founded in 2006 by Avnish Bajaj, Rishi Navani.

What sectors does Matrix Partners India invest in?+

Matrix Partners India focuses on generalist, consumer, enterprise, ai. They primarily invest in these sectors.

How do I prepare for a meeting with Matrix Partners India?+

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Generated by briefthecall.com from public web sources. Last updated August 9, 2026. Each claim is linked to its source above.

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