Matrix Partners raises $518-M for fourth India fund

Matrix Partners India has raised USD 518 million for its new India fund and is targeting to raise another USD 7 million to close the fund. Last year, Matrix announced a USD 450 million fourth India fund. The fund target is now being extended to USD 525 million. It raised over USD 300 million in its third fund in 2019. Prior to this, the firm's USD 300 million second fund was raised in 2011 and later topped up with another USD 110 million in 2016. Started in 2006, Matrix Partners India invests in consumer technology, B2B, enterprise, and fintech, among others.