Matrix Partners India invests $10 million in BMI

Mumbai, India, January 18, 2008

Matrix Partners India has invested $10 million as the sole investor in the first round of funding of Brand Marketing India (BMI). BMI is a leading foreign brand marketer and has relationships with Gucci, Calvin Klein, French Connection, Jimmy Choo and several other leading foreign brands.

“BMI is our first growth capital investment consistent with the strategy articulated with our fund expansion recently. We believe there is a large market opportunity for foreign brands in India and the seasoned senior management team at BMI has strong domain expertise to capitalize on this opportunity.” said Rishi Navani, co–founder & Managing Director, Matrix India.

About Matrix Partners India:
Matrix Partners India is a venture and growth capital investment firm with $450 million under management. The firm invests in companies primarily targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to $50 million in a company depending on its stage of development and has invested in several companies including asklaila, BMI, Itzcash Card, Seventymm and Yo! China. The fund’s investors include leading US university endowments and family foundations. Further information is available at www.matrixpartners.in