Matrix
Matrix is a San Francisco based venture capital firm founded in 1977 that backs early-stage companies across AI, B2B, consumer, fintech, health tech, and infrastructure. It works with product teams from idea through Series A, offering hands-on support and strategic guidance to help portfolio companies reach scale. The team comprises former founders and operators who bring practical insight to building startups. Matrix operates globally, including Matrix Partners China, which builds long-term relationships with entrepreneurs in China and abroad and invests across sectors and stages. Over its history, Matrix has backed companies that progressed to IPOs or acquisitions, reflecting a focus on durable growth and long-term value creation through close founder collaboration and a global network.
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Past deals in Malawi
Ofo
Series C in 2016
Ofo is a station-free bike-sharing platform that operates through a mobile application, addressing the "last mile" transportation challenge by providing an eco-friendly and efficient solution for short-distance travel. The platform connects over 10 million bikes to more than 200 million users across more than 20 countries, facilitating over 32 million daily transactions. Users can easily unlock bikes by scanning a QR code or entering the bike's plate number through the app, allowing them to find and return bikes anytime and anywhere without the need for docking stations. Ofo not only aims to enhance urban mobility but also partners with organizations such as the UN Development Programme to promote sustainability and healthy living. Additionally, Ofo collaborates with the Clara Lionel Foundation to support educational initiatives for schoolgirls in Malawi by providing bikes and scholarships.
Ofo
Series B in 2016
Ofo is a station-free bike-sharing platform that operates through a mobile application, addressing the "last mile" transportation challenge by providing an eco-friendly and efficient solution for short-distance travel. The platform connects over 10 million bikes to more than 200 million users across more than 20 countries, facilitating over 32 million daily transactions. Users can easily unlock bikes by scanning a QR code or entering the bike's plate number through the app, allowing them to find and return bikes anytime and anywhere without the need for docking stations. Ofo not only aims to enhance urban mobility but also partners with organizations such as the UN Development Programme to promote sustainability and healthy living. Additionally, Ofo collaborates with the Clara Lionel Foundation to support educational initiatives for schoolgirls in Malawi by providing bikes and scholarships.
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