Venture Capital: Matrix Partners China Raises $1.2B For Sixth Fund

January 26, 2021 | Latest News, News, Venture Capital
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Matrix is an early-stage investor in Chinese startups in the tech, TMT, Internet, mobile, and healthcare sectors.

Matrix Partners China, an affiliate of Matrix Partners, the U.S. venture capital firm, has raised $1.2 billion for its sixth China fund according to an SEC filing. (Caixin Global)

Matrix Partners in the U.S. is a VC giant that started in Boston in 1977 as Hellman Ferri Investment Associates. The firm has achieved a reputation based on its highly successful track record and experience in startup investing. In 1982, the firm opened its office in Silicon Valley and renamed itself Matrix Partners.

Matrix Partners China

Bo Shao, David Su, David Zhang, and Ye Lee co-founded Matrix Partners China in 2008. Its investing philosophy aligns with Matrix Partners U.S.

It cites the following as its investing successes in the current portfolio: DidiGlobal, eleme, Guazi, Futu, LEXIN, MOMO, Cheetah Mobile, Liepin, VIPKID, Lixiang , Soyoung, ZKH, Ronbaymat, i-Space, TaimeiTech, etc. among others.

Previously it invested in landmark businesses such as Focus Media, Eachnet, Baidu, iKang, 3g.cn, DivX, Kanghui Medical, P-Cube, AAC Acoustics, and others.

“We prefer to be the first institutional investor in a company and the largest non-management shareholder. Our initial investment is generally between $1 million and $10 million. We occasionally make seed-stage and later-stage investments. We typically make follow-on investments over the life of a company, depending on its needs,” says Matrix China on its website.

Prior to the latest raising, the VC firm raised $750 million in 2018 for its fifth fund. Its third and fourth funds raised $350 million and $500 million, respectively.

In the current sixth fund, commitments have been received from its general partner as well as 54 other investors.

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