Matrix venture firm distances from India and China affiliates

Matrix, a US-based venture capital firm, is undergoing a rebranding of its Indian and Chinese affiliates. The move involves the rebranding of Matrix Partners India to Z47 and Matrix Partners China to MPC. The rebranding, scheduled for July 1, does not impact the operational structure, existing funds, or strategy of Matrix Partners India.

Matrix’s statement indicated that this “renaming and organizational update” is aimed at clarifying the independent operational approaches of each team in their respective geographies. According to Matrix, the teams have operated with separate decision-making and separate back offices from inception. The new name, Z47, is inspired by India’s vision of becoming a developed nation by 2047.

Matrix’s decision to rebrand mirrors Sequoia Capital’s splitting of its India and Southeast Asia, and China units last year amid escalating geopolitical tension between China and the US. Matrix stressed that this rebranding is driven by a desire for clarity in the marketplace, a focus on responding to regional market dynamics, and a commitment to competing locally to benefit each organization’s respective portfolio companies, investors, and partners.

It is worth noting that in the official announcement, Matrix referred to its India and China operations as “entities operating under the Matrix name” rather than as its own units. The Matrix Partners India website still discusses the broader firm.

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