Matrix Partners invests Rs 20cr in vJive

Matrix Partners India has invested Rs 20 crore in vJive, a broadband, out-of-home media and digital signage network.

The investment is part of vJive's Rs 100 crore expansion outlay over the next few years.

Avnish Bajaj, managing director of Matrix Partner India, joins the board of Digital Music India, the parent company of vJive.

"In a fragmented out-of-home market with a lot of noise and business plans, we strongly believe that vJive's technology for providing customised marketing solutions to its network of advertisers is a significant differentiator," Bajaj said.