(19 December 2006 10:30 pm)

MUMBAI: Matrix Partners India (MPI) has invested in a mode startup Four Interactive.

MPI claims to be India's first consumer services risk capital fund and focuses on early to growth stage businesses in the Internet, mobile, financial services, media and entertainment, food and beverage, hospitality, healthcare, travel and leisure sectors.

MPI co-founded by Avnish Bajaj and Rishi Navani with Matrix Partners US, strives to be the trusted partner providing risk capital to build market consumer services companies. With this investment, Rishi Navani has joined the Board of Directors of Four Interactive, informs an official release. Four interactive founded by Kiran Konduri and Shriram Adukoorie.

Navani said, "We are excited to partner with Kiran and Shriram, who bring a diverse set of experiences and complementary skills that form a strong foundation for the company."

Konduri said, "In Matrix we found a partner with common values and beliefs. Our partnership is focused on building easy to use services that are at the intersection of mobile,content and the web."

Adukoorie said, "Internet adoption is at the cusp of an inflection point in India. At Four Interactive we have set ourselves a simple goal of making the net more useful, relevant and inclusive for Indians."

Kiran Konduri was previously at Microsoft and has founded two companies' including Zephyr Software, which was acquired by Infospace. Shriram Adukoorie has been with Microsoft for the last decade and was previously country head for MSN India and South Asia. Most recently he managed Microsoft's portal in the Asia region.