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Matrix Partners opens office in Bangalore

January 25, 2005 17:07 IST
American venture capital firm Matrix Partners on Tuesday began its operations in Bangalore with an aim to promote 17 of the 27 technology companies it has invested in.

Matrix Partners, which has raised $1.1 billion in two tranches currently has investments in 27 firms, of which 10 have an offshore presence in India.

"Many of Matrix Partners portfolio companies have either a presence in India for their R&D work or have Indian founders," Matrix General Partner Tim Barrows said.

The 14 year-old Matrix has invested in Veritas, Tivoli Systems, Apollo Computer, Cascade Communications and Sycamore Networks.

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