Tech- giant Facebook said it has joined hands with early stage venture capital fund Matrix Partners to scale small businesses in India.
The tie-up is a part of Facebook’s VC Brand Incubator Program that collaborates with venture capital funds to help early-stage small and medium businesses (SMBs) to maximise their digital potential.
“With the tie-up with Matrix Partners India, the programme also completes one year during which it has collaborated with six VC Funds – Sauce.VC, Fireside Ventures, SAIF Partners, Sequoia Capital, DSG Ventures, and Matrix Partners India – and skilled, trained,” it added.
Facebook India Director (SMBs) Archana Vohra said the company is committed to supporting the growth of small businesses in India.
Also Read: Facebook creates unit for financial services
“…this charter is stronger than ever as we work towards enabling their recovery from the pandemic…In light of the current constraints, we”ve taken the initiative online along with a host of our other skilling initiatives such as Boost with Facebook and Advertiser Vintage program to ensure uninterrupted skilling and support for small businesses,” she said.
Matrix Partners India is an early-stage investor that partners closely with SMBs across sectors including consumer technology, B2B, enterprise, and fintech among others. In India, it has invested in companies like Ola, Quikr, Practo, Dailyhunt, Mswipe, Country Delight, and Razorpay, among others.