Matrix Partners India
In short: Matrix Partners India is an early-stage venture capital firm that has operated as Z47 since July 2024. It began as the Indian arm of US firm Matrix Partners and runs its own funds from India. Its relevance to dating is as a reported backer of Indian app Woo. DII also named it as an investor in India-focused dating platforms.
Key facts
| Type | Investor |
|---|---|
| Headquarters | India |
| Founded | 2006 |
| Status | Active. Renamed Z47 (legal entity DZ47) from 1 July 2024. |
| Rebrand | From 1 July 2024 the Indian arm of Matrix Partners became DZ47, trading as Z47. The Chinese arm became MPC and US operations kept the Matrix name. [VC firm Matrix Partners renames Indian arm as Z47 - Storyboa, 1 July 2024] |
| Name origin | The name Z47 is inspired by India's goal of becoming a developed country by 2047. The firm said the rebrand did not change its operations or strategy in India. [Matrix Partners India rebrands to Z47 in global renaming ini, July 2024] |
| Founded | Matrix Partners entered India in 2006; the firm is described as founded in 2006. [Matrix Partners India rebrands to Z47 in global renaming ini, July 2024] |
| Fourth fund | In May 2023 Matrix Partners India extended the target of its fourth India fund to $525 million from $450 million, having raised $518 million per an SEC filing. [Matrix Partners expands new India fund to $525 million - Tec, 23 May 2023] |
| Dating investment | Indian dating app Woo is described as backed by Matrix Partners, Omidyar Network and U2opia. [Gen Z Falls In Love With Homegrown Dating Apps - Entrepreneu] |
| DII coverage | DII's 12 July 2024 story on a QuackQuack survey names Matrix Partners India among firms investing in India-focused dating platforms, without detail. [Dating Industry Insights, 12 July 2024] |
| Investment focus | Early-stage investor, typically seed to Series B, in consumer tech, fintech, enterprise SaaS and AI, and B2B commerce. [Matrix Partners India - Gilion VC mapping] |
About Matrix Partners India
Matrix Partners India is an early-stage venture capital firm focused on India. Press coverage dates its start to 2006, when Matrix Partners entered the Indian market. Beginning 1 July 2024 the firm was renamed Z47, with the legal entity called DZ47. The name refers to India's aim to become a developed country by 2047. At the same time the Chinese arm became MPC, and the US business kept the Matrix name. The firm said each team had run separate decision-making and back offices from the start, and that the change did not alter its strategy in India.
The firm invests from seed to Series B in sectors such as consumer technology, financial technology, enterprise software and B2B commerce. In May 2023 TechCrunch reported that it had extended the target of its fourth India fund from $450 million to $525 million, after raising $518 million according to an SEC filing. Reported portfolio companies include Ola, Razorpay, OfBusiness, Dailyhunt and Country Delight. Sources differ on its main office, with some listing Mumbai and others Bengaluru, so this profile does not name one.
For the dating industry, the clearest link is Woo, an Indian dating app. Media reports from around 2015 to 2016 describe Woo as backed by Matrix Partners, Omidyar Network and U2opia. DII's July 2024 story on a QuackQuack survey named Matrix Partners India among firms investing in India-focused dating platforms. That story gave no detail, and we found no source showing a Matrix investment in QuackQuack.
Also mentioned in
Questions about Matrix Partners India
Is Matrix Partners India the same as Z47?
Yes. The Indian arm of Matrix Partners was renamed DZ47, trading as Z47, from 1 July 2024.
Is Matrix Partners India linked to the US firm Matrix?
It began as the Indian arm of Matrix Partners. The firm said each regional team has had separate decision-making and back offices from the start, and the US business keeps the Matrix name.
Which dating apps has it backed?
Media reports describe Woo as backed by Matrix Partners. We found no source confirming an investment in QuackQuack.
What does Matrix Partners India do?
Matrix Partners India is an early-stage venture capital firm that has operated as Z47 since July 2024. It began as the Indian arm of US firm Matrix Partners and runs its own funds from India. Its relevance to dating is as a reported backer of Indian app Woo.
Where is Matrix Partners India based?
Matrix Partners India is based in India.
When was Matrix Partners India founded?
Matrix Partners India was founded in 2006.
Also known as: DZ47, Matrix India, Z47.
Sources
- VC firm Matrix Partners renames Indian arm as Z47 - Storyboard18
- Matrix Partners India rebrands to Z47 in global renaming initiative - Paisa Journal
- Matrix Partners expands new India fund to $525 million - TechCrunch
- Gen Z Falls In Love With Homegrown Dating Apps - Entrepreneur India
- QuackQuack's 80% Family Approval Stat: A Segmentation Challenge, Not a Consensus - DII
- Matrix Partners India - Gilion VC mapping