Announcing Matrix X

Today we are pleased to announce the close of Matrix X, our tenth early-stage technology-focused venture fund. We’d like to thank our limited partners for their incredible, longstanding support of our partnership and the great entrepreneurs that are the core of our business.

One of the nice reminders from spending several weeks with our limited partners is that the profits of our investments support some of the most important educational and not-for-profit foundations in the world. We take great pride in helping to nurture innovation that benefits the world, but also in seeing the fruits of these investments applied for the greater good.

Matrix X is our third consecutive $450M early-stage fund. We chose to maintain this fund size despite significant over subscription because it fits our focused and selective investment practice. Unlike Matrix IX, this fund will be our only US investment vehicle. Due to the unusual market conditions in 2008, we coupled a $150M Special Opportunity Fund with Matrix IX to take advantage of some unique investment opportunities we thought might emerge, but we never called any capital in that fund.

Again, our sincere gratitude to our limited partners for enthusiastically standing behind us over the years. We are excited about what the future holds for our current portfolio companies and those whom we will back in Matrix X.

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