Matrix has about a dozen startups in the fund’s portfolio, some of them American, some European, some Israeli, and some from emerging market countries, Matrix partners Pavel Teplukhin and Pavel Maly told a news conference in Moscow.
Many of the portfolio startups have shown “excellent” performance after funding from Matrix, they said.
The fund’s portfolio firms are technology companies representing a variety of sectors, including finance, insurance, real estate, retail, agriculture, education and sports.
In 2021, the fund, which has a subscribed capital of $35m, exited one of the portfolio startups, having raised five times as much capital as it had put in, the partners said.
Matrix’s venture capital strategy is late-stage seed or series A funding. The company picks startups providing types of services that are known to be in demand and need money to implement optimisation or time-saving solutions.
Though its venture investment is mainly focused on firms specialising in business-to-business (B2B) deals, Matrix is willing to take up providers of business-to-consumer (B2C) services in emerging market countries with rapidly growing numbers of mobile internet users and poor availability of online services, the partners said.