Matrix Partners India has raised a further Rs 730 crore from existing investors in its second fund which was set up in 2011. The firm now has a total corpus of $400 million in its second fund.
The venture firm was founded in 2006 by Avnish Bajaj and Rishi Navani. At this juncture of the fundraising, co-founder Rishi Navani is leaving the firm but will continue to work with several of the companies from the portfolio. The venture capital firm will now be managed by Avnish Bajaj.
The firm which is an investor in Ola, Quickr, Housejoy, Practo amongst others will now focus on exits and invest across seed and Series-A deals preferably.
The firm plans to focus on online marketplaces, financial technology, software, logistics and healthcare technology segments.[source]