Multi-stage VC · Seed–Growth · Bengaluru
Z47
Formerly Matrix Partners India
Verified by Women Can StartupSnapshot
- Firm type
- Multi-stage VC
- Founded
- 2006
- Headquarters
- Bengaluru
- Other offices
- Mumbai, Gurugram
- Fund / AUM
- ~$525M fund (2023, as Matrix Partners India); ~$1.5B+ invested to date
- Geographies
- India
- Leads rounds
- Yes
- Last updated
- 23 July 2026
About Z47
A conviction-led early-stage investor that concentrates capital into a smaller number of bets and doubles down, strong in fintech and consumer with a growing AI book. It renamed from Matrix Partners India to Z47 in 2024, a nod to India's 2047 ambitions.
Z47 is a multi-stage vc based in Bengaluru, founded in 2006, investing in India. It backs companies at the Seed, Series A, Series B and Growth stages, with a focus on Fintech, Consumer, Enterprise, SaaS and AI. It usually leads the rounds it joins.
On fund size, the firm reports ~$525M fund (2023, as Matrix Partners India); ~$1.5B+ invested to date. Its portfolio includes Ola, Razorpay, Dailyhunt, Country Delight, Captain Fresh and Five Star Business Finance.
Investment focus
Notable investments
8 of Z47’s better-known bets, grouped by sector. Names in coral open the company’s profile or founder story on this site.
Fintech
Early investor
Consumer
Mobility
Early investor
D2C
B2B commerce
SaaS
How to pitch Z47
Practical pointers drawn from what Z47 says it backs. Always confirm the current focus and process with the firm before you reach out.
- They invest at Seed, Series A, Series B and Growth. Approach them when your company is with an early product and first signs of traction, through to companies already scaling with strong metrics.
- Their focus is Fintech, Consumer, Enterprise, SaaS and AI, so lead with why you fit there.
- The strongest way in is a warm introduction, ideally from a founder they have backed, such as Ola, Razorpay and Dailyhunt.
- You can find the team and their current focus on their website, linked below.
Partners
Avnish Bajaj
Founder & Managing Director
Vikram Vaidyanathan
Managing Director
Tarun Davda
Managing Director
Rajinder Balaraman
Partner
Website & links
Frequently asked questions
- What stage does Z47 invest at?
- Z47 invests at the Seed, Series A, Series B and Growth stages.
- What sectors does Z47 invest in?
- Z47 focuses on Fintech, Consumer, Enterprise, SaaS, AI, D2C and Healthtech.
- Which companies has Z47 invested in?
- Notable investments include Ola, Razorpay, Dailyhunt, Country Delight, Captain Fresh, Five Star Business Finance, Stanza Living and MoEngage. See the full list on this page.
- Who are the partners at Z47?
- Key people include Avnish Bajaj (Founder & Managing Director), Vikram Vaidyanathan (Managing Director), Tarun Davda (Managing Director) and Rajinder Balaraman (Partner).
- Where is Z47 based?
- Z47 is headquartered in Bengaluru, with additional offices in Mumbai and Gurugram.
- Does Z47 invest in women founders?
- Z47 is a generalist fund and backs strong founders regardless of gender, women founders included. For funds with an explicit women-founder mandate, see our women-focused funds list.
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