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US-based firm venture capital firm Matrix Partners’ India arm will be rebranded as Z47, while the investor’s China arm will be known as MPC from next month

The name change is part of the larger organisational update for clarity in the marketplace, responsiveness to regional market dynamics, Matrix Partners said in a statement.

“The new name is inspired by India’s journey towards a developed country by 2047, with India’s founder and digital ecosystem at the heart of its growth story. There will be no change to the operations of existing Matrix Partners India funds or our early–stage and founders focused strategy,” said the company on X

“This change also reflects our responsiveness to regional market dynamics and a continued focus on competing locally. We have always operated with separate decision–making and back offices from Matrix in the US, and the name change further clarifies this approach. New website and other elements of the brand will be unveiled in due course,” it added.

The firm said that operations in the US will continue as Matrix, an early-stage venture capital fund with headquarters in Boston and San Francisco.

The VC firm is known for backing unicorns like Ola, Ola Electric, Krutrim AI, Razorpay, OfBusiness, Oxyzo, Dailyhunt, and Five Star Finance. Its other significant portfolio bets include Country Delight, Dealshare, Jupiter, and Captain Fresh, among others.

Last year, Matrix Partners India increased the size of its fourth India-focused fund to $525 million, despite a challenging funding environment.