Matrix Partners invests $22.5 mln in marketing firm

Private equity firm Matrix Partners India said on Tuesday it would invest 1 billion rupees ($22.5 million) in vJive, a unit of digital marketing firm Digital Music India Pvt. Ltd.

vJive, which has received an initial tranche of 200 million rupees from Matrix, has more than 2,000 outdoor signage screens in India and plans to have 100,000 screens in the next few years.

Matrix Partners recently set up a $150 million fund to invest in Indian consumer service industries including telecom, Internet, media, financial services and travel.