Matrix Partners invests $10 m in BMI

Matrix Partners India has invested $10 million as the sole investor in the first round of funding of Brand Marketing India (BMI), a leading foreign brand marketer.

BMI has relationships with Gucci, Calvin Klein, French Connection, Jimmy Choo and several other leading foreign brands, a company release said today.

"BMI is our first growth capital investment consistent with the strategy articulated with our fund expansion recently," Matrix India's co-founder and managing director Rishi Navani said.

"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 capitalise on this opportunity," Navani said.

Matrix Partners India is a venture and growth capital investment firm with $ 450 million under management. It invests in companies primarily targeting the Indian domestic market with a sector-independent investment strategy focused on generating exceptional returns.