US-based Matrix Partners said the name change aims to clarify the local approach each of the teams has taken to operating in each of their geographies since inception
As part of this exercise, Matrix Partners China will be rebranded as MPC. Operations in the US will continue under the name Matrix
Matrix Partners India said the name Z47 is inspired by India’s journey towards becoming a developed country by 2047, with the founder and digital ecosystem at the heart of this growth story
US-based private equity (PE) firm Matrix Partners said that its Indian subsidiary Matrix Partners India will change its brand name to Z47, beginning July 1, 2024.
The name change is part of the larger renaming and organisational update to clarify the local approach each of these teams has taken to operating in each of their geographies since inception and the organisational independence of each team, Matrix Partners said in a statement.
As part of this exercise, Matrix Partners China will be rebranded as MPC. Operations in the US will continue under the name Matrix.
“The decision to rename is driven by a shared commitment to clarity in the marketplace, responsiveness to regional market dynamics and a continued focus on competing locally, which will benefit each organisation’s respective portfolio companies, investors, and partners,” the statement added.
In a separate statement, Matrix Partners India said that the name Z47 is inspired by India’s journey towards becoming a developed country by 2047, with the country’s founder and digital ecosystem at the heart of its growth story.
It added that the rebranding will not lead to any change in the firm’s operation and strategy in the country and it will continue to invest in early-stage startups.
Matrix Partners entered India in 2006 and manages investments to the tune of $1.5 Bn. It has backed over 100 startups and counts the likes of A23, CreditVidya, Captain Fresh, DailyHunt, Foxtale, and Country Delight in its portfolio.
