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Tag: Rishi Navani

  • Matrix Partners India invests in Four Interactive

    Matrix Partners India invests in Four Interactive

    MUMBAI: Matrix Partners India (MPI) has invested in a mode startup Four Interactive.

    MPI claims to be India’s first consumer services risk capital fund and focuses on early to growth stage businesses in the Internet, mobile, financial services, media and entertainment, food and beverage, hospitality, healthcare, travel and leisure sectors.

    MPI co-founded by Avnish Bajaj and Rishi Navani with Matrix Partners US, strives to be the trusted partner providing risk capital to build market consumer services companies. With this investment, Rishi Navani has joined the Board of Directors of Four Interactive, informs an official release. Four interactive founded by Kiran Konduri and Shriram Adukoorie.

    Navani said, “We are excited to partner with Kiran and Shriram, who bring a diverse set of experiences and complementary skills that form a strong foundation for the company.”

    Konduri said, “In Matrix we found a partner with common values and beliefs. Our partnership is focused on building easy to use services that are at the intersection of mobile,content and the web.”

    Adukoorie said, “Internet adoption is at the cusp of an inflection point in India. At Four Interactive we have set ourselves a simple goal of making the net more useful, relevant and inclusive for Indians.”

    Kiran Konduri was previously at Microsoft and has founded two companies’ including Zephyr Software, which was acquired by Infospace. Shriram Adukoorie has been with Microsoft for the last decade and was previously country head for MSN India and South Asia. Most recently he managed Microsoft’s portal in the Asia region.

  • Matrix Partners launches $150 million consumer services risk capital fund

    Matrix Partners launches $150 million consumer services risk capital fund

    MUMBAI: Matrix Partners India, co-founded by Avnish Bajaj and Rishi Navani in partnership with Matrix Partners US, today announced the closing of its first fund.

    The $150 million, multi-sector, multi-stage fund will focus on early to growth stage businesses in the internet, mobile, financial services, media and entertainment, healthcare and travel and leisure sectors.

    The first fund of its kind in India, it aims to partner with entrepreneurs to build market leading companies in the consumer services domain. The fund was heavily oversubscribed and current investors in the fund include leading US university endowments and family foundations.

    “Matrix Partners is the first leading venture capital firm to establish a fund in India. The Indian economy is in a very exciting phase and Matrix Partners’ is looking forward to participating in the region’s growth story,” said Matrix Partners US founding partner Paul Ferri.

    “As co-founders of Matrix Partners India, Avnish and Rishi bring incomparable experience in working with India-based companies in the consumer services sector. We have the ideal team in place to help Matrix Partners continue its strong legacy of building the best-performing companies and long-term relationships with talented entrepreneurs,” said Matrix Partners US managing partner Timothy A. Barrows.

    Domestic entrepreneurs would benefit from the rich experience of the Indian founders and the strong company-building expertise of Matrix Partners US. Bajaj’s entrepreneurial experience (co-founder, chairman and former CEO of India’s largest online marketplace Baazee.com, acquired by eBay) and Navani’s venture and domain experience (former managing director at WestBridge Capital Partners) provides the ideal background to help entrepreneurs realise their ambitions. Matrix Partners US also brings to bear its experience as the top performing venture firm over the past two decades with assets under management of more than $3 billion.

    Matrix Partners India founding managing director Avnish Bajaj said, “Matrix Partners India is focused on presenting a unique proposition to the emerging businesses in the consumer services sector. We believe that the founding team has an unparalleled competency to recognize and support potential market leading companies in this sector. By leveraging on Matrix Partners’ proven approach to investing, we are determined to emerge as the trusted partner of choice for Indian entrepreneurs.”

    “The domestic consumer services industry is the key driver of India’s Gross Domestic Product growth. The industry is set to witness an era of innovative business models and significant value creation. We are delighted to partner with Matrix Partners, and appreciate the overwhelming support from our marquee investor base,” added Matrix Partners India founding managing director Rishi Navani.