|By Marketwired .||
|April 18, 2014 08:04 AM EDT||
CAMBRIDGE, MA -- (Marketwired) -- 04/18/14 -- Matrix Partners, a premier venture capital firm with a 30-year history, today announced the closing of a new fund, Matrix Partners China III, at $350 million, bringing total capital under management in China to greater than $1 billion. The new fund underscores the firm's ongoing commitment to China.
"The Chinese market continues to present excellent opportunities to build major, highly valued stand-alone businesses," said Timothy A. Barrows, Managing Partner of Matrix Partners. "We'd like to thank our limited partners for their enthusiastic and longstanding support of Matrix Partners China."
Since its founding in 2008, Matrix Partners China has become a leader in early-stage investing in the Chinese market. The firm targets companies in technology, media and telecommunications (TMT) and health care, and has been especially active in Internet and mobile. Its Beijing-based investment team, led by David Zhang, David Su and Bo Shao has been a part of the creation and growth of many influential businesses in China, including Anjuke, Baidu, Bona Film, Cheetah Mobile, Eachnet, Edan Medical, Focus Media, Momo, Qihoo 360, and 21ViaNet.
For more information about Matrix Partners' latest investments, please visit www.matrixpartners.com.
About Matrix Partners:
Matrix Partners is a premier venture capital firm that has generated outstanding returns for more than three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry's top performing funds of all time. Matrix Partners has offices in Cambridge, MA; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. Matrix Partners has invested in several game-changing, industry-leading businesses such as Apple Computer, Care.com, Gilt Groupe, HubSpot, JBoss, Netezza, Oculus VR, Phone.com, Polyvore, Starent Networks, Sycamore Networks, Tivoli Systems, Veritas, Zendesk, and Zong.
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