Matrix Partners India

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

• 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
• 2024investment
  Announced seed investment in Neysa Networks, India's first AI cloud and PaaS startup founded by Sharad Sanghi and Anindya Das. in.linkedin.com
• 2024investment
  Announced seed investment in SiftHub, an AI platform for sales founded by Manisha Raisinghani. in.linkedin.com
• May 2023fundraise
  Extended its then-current India fund from $450M to $525M for the South Asian market. en.wikipedia.org
• 2023press
  Rebranded the India arm to Z47, separating its identity from the US Matrix Partners brand. x.com

Notable investments

• ScapiaundisclosedApr 2025pitchbook.com
• Stable MoneySeries B-IIFeb 2026cbinsights.com
• Neysa NetworksSeed2024in.linkedin.com
• SiftHubSeed2024in.linkedin.com
• Olalinkedin.com
• Practolinkedin.com
• Dailyhuntlinkedin.com
• FiveStar Business Financelinkedin.com
• Quikrlinkedin.com
• Treebolinkedin.com

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

• Matrix Partners India | LinkedIn
• Matrix Partners - Wikipedia
• Matrix Partners India – Parsers VC
• Matrix Partners India | MAGNiTT
• Matrix Partners India – Unicorn Nest
• Matrix Partners India is now Z47 (@Matrixindiavc) / X
• https://www.cbinsights.com/investor/matrix-partners
• https://www.linkedin.com/company/matrix-partners-india/
• https://www.crunchbase.com/organization/matrix-partners-india
• https://pitchbook.com/profiles/fund/11183-05F

Other VCs in India

• Peak XV Partners · Multi-stage VC, India + SEA (ex-Sequoia India)

Explore VCs by sector

• Generalist in India
• Consumer in India

Globally

• Generalist worldwide
• Consumer worldwide

Frequently asked