Banking on the mobile and internet space in India. Matrix Partners India today announced a new program to support entrepreneurs at the seed stage in this domain. The primary objective of the initiative will be to partner with exceptional entrepreneurs in the Internet and Mobile sectors at a very early stage and support their growth across multiple stages of their business. The firm also announced two new early stage investments in Twist Mobile and a stealth mode Internet company in social commerce, details for which shall be shared at a later date. Twist Mobile, a Mobile apps and games development company was founded by Virat Khutal, an experienced game designer.
“That the Internet is a large opportunity in India is well known and talked about – the firm’s focus is to back select high quality entrepreneurs at an early stage who are focused on bringing innovation to the Indian Internet consumer with a world class and clutter breaking user experience. This is the endeavor of the entrepreneur we have backed”, said Avnish Bajaj Managing Director, Matrix India.
“The newly established Mobile and Internet seed stage investing program demonstrates our commitment to early stage investing in India. The Indian Mobile opportunity with almost a billion Mobile subscribers is a key focus area for new investments. The recent investment in Twist Mobile, a promising Mobile games startup company is the firm’s fourth investment in the Mobile sector”, said Rishi Navani, Managing Director, Matrix India”
More details soon. Read more on Matrix Partners here.