Matrix Partners
UnclaimedAt a Glance
- Check Size
- $1M – $25M
- Stage
- Seed, Series A, Series B+
- AUM
- $4B+
- Sectors
- Enterprise, Consumer, Fintech +1
- Founded
- 1977
- HQ
- San Francisco, CA
About Matrix Partners
Matrix Partners is a venture capital firm based in San Francisco, CA founded in 1982. Matrix is an early-stage venture capital firm, investing from idea through Series A. As a close-knit team of former founders and company builders, we've partnered with companies from Apple and FedEx to Oculus and Canva. The firm focuses on Seed, Series A, Series B+ investments across sectors including Enterprise, Consumer, Fintech, SaaS. The firm manages $4B+ in assets under management. Notable portfolio companies include Apple, Zendesk, Oculus, HubSpot and Canva. We partner with exceptional entrepreneurs building transformative technology companies that can achieve category leadership and sustainable growth.
Investment Thesis
“We partner with exceptional entrepreneurs building transformative technology companies that can achieve category leadership and sustainable growth.”
Leadership Team
Matrix was co-founded in 1977 by Paul Ferri and Warren Hellman, who later built Hellman and Friedman. Ferri is still listed as founder in an emeritus role alongside Tim Barrows, Andrew Verhalen and David Skok.
The current US investing bench is seven partners. Antonio Rodriguez covers AI and frontier technology with board seats at Luma Labs, Suno, Markforged and Sesame. Dana Stalder leads fintech and B2B, with EarnIn, Side, Zest AI and Mudflap. Ilya Sukhar works across AI and infrastructure, with Fivetran, Flock Safety and August Health. Stan Reiss runs the semiconductor practice, including Lightmatter, Baya Systems and Nubis. Matt Brown and Kojo Osei cover fintech and infrastructure, and TJ Parker invests in healthtech and consumer. Andrea Black is chief operating officer, Erin Mauro chief financial officer, and Scott Khanna talent partner.
Sector Focus
Investment Stage
Notable Portfolio Companies
View full portfolio →Regional Arms
- └Matrix Partners India— Bengaluru, IndiaIndia
Fund History
- Matrix began as Hellman Ferri Investment Associates in 1977 and raised its first institutional fund in 1985 under the Matrix Partners name.
- Matrix Partners VII closed in 2001 at $1B, followed by Matrix Partners VIII in 2006 at $445M. The 2009 program paired Matrix Partners IX at $450M with a $150M special opportunities vehicle, the two often cited together as a single $600M raise.
- Matrix Partners X closed in 2013 at $450M across 48 investors, and Matrix Partners XI repeated that size in 2018 with 52 investors.
- Matrix Partners XII, filed in 2022 at $800M, is the largest US vehicle on record.
- Separate India and China fund families ran in parallel for more than a decade, the India series reaching $300M in its third fund and $450M in its fourth, the China series reaching $1.6B in its seventh.
- In July 2024 the three arms separated: the India platform became Z47 and the China platform went independent.
- No limited partners are publicly named.
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Frequently Asked Questions
What stage does Matrix Partners invest at?
Matrix Partners primarily invests at the Seed, Series A, Series B+ stages. This means they focus on companies that are building their initial product and finding product-market fit.
Where is Matrix Partners located?
Matrix Partners is headquartered in San Francisco, CA. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does Matrix Partners focus on?
Matrix Partners focuses on investments in Enterprise, Consumer, Fintech, SaaS. Their portfolio reflects deep expertise and networks within these sectors.
What is Matrix Partners's typical check size?
Matrix Partners's typical investment check size ranges from $1M to $25M. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does Matrix Partners have under management?
Matrix Partners manages approximately $4B+ in assets under management (AUM) across their funds.
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