Matrix Partners
 | |
| Company type | Private ownership |
|---|---|
| Industry | Venture capital |
| Founded | 1977 |
| Founder | Paul Ferri |
| Headquarters | Palo Alto, California, United States |
| Total assets | $2.4 billion[1] |
| Website | www.matrixpartners.com |
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.
The firm has offices in Cambridge, Massachusetts, Palo Alto, California, Mumbai, India and Beijing, China.
Matrix Partners is not connected with Matrix Private Equity Partners LLP or Matrix Securities, which are part of Matrix Group, a UK financial services business based in London.[2]
History
Tracing its roots to 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 (1977 to 1982), was founded by Paul J. Ferri and Warren Hellman, founder of San Francisco-based private equity firm, Hellman & Friedman.
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. Since then, Matrix has raised nine funds with total investor commitments of $2.4 billion. In 2001, Matrix Partners completed fundraising for Matrix Partners VII, a $1 billion venture capital fund.[3] In 2006, Matrix raised Matrix Partners VIII fund, with $445 million of investor commitments.[4] In 2006, Matrix also raised a separate $150 million India fund.[5][6] In July 2009, Matrix Partners raised Matrix IX fund with $600m.[7]
Investments
Since 1977, Matrix has invested in Apple Computer, Alteon WebSystems, and Office Club.[8] Its current portfolio includes companies such as Ambarella, Apartment List,[9] Kinnek, JustFab,[10] Gilt Groupe, sqrrl, BillFloat, Inc, Mitro, Grownout[11] and Canva.[12][13][14]
References
- ^ Capital raised since inception
- ^ Matrix Group website
- ^ $1bn fund for Matrix Partners. AltAssets, 2001
- ^ Matrix makes plans for $445m fund.(Matrix Partners raises funds for its new fund Matrix Partners VIII). Private Equity Week, 2006
- ^ Matrix Partners closes India fund on $150m. AltAssets, 2006.
- ^ Matrix Closes New India Fund. New York Times, 2006
- ^ http://www.matrixpartners.com/site/press_detail/343/
- ^ "Matrix Partners — About Us".
- ^ "Apartment List snaps up $30 mln Series B - PE Hub". PE Hub. 2016-11-04. Retrieved 2016-11-04.
- ^ https://www.crunchbase.com/organization/justfabulous
- ^ Cutler, Kim-Mai (Sep 5, 2013). "Get Your Friends, Co-Workers Out Of "Password Remembering Hell" With Matrix-Backed Mitro". TechCrunch.
- ^ "Why Matrix?".
- ^ "Canva Investors".
- ^ http://venturebeat.com/2010/07/14/billfloat-bills/
- It's Different This Time. San Francisco Chronicle
- Matrix Partners' David Skok profits again; this time from Tabblo. The Deal, 2007
- Matrix Partners Profile. The Funded
- Early Mozilla leader leaves Matrix Partners to rejoin the entrepreneurial ranks. CNET, 2008