India, an ancient civilization with a rich heritage, is transforming its narrative, leaving behind outdated perceptions of poverty and poor infrastructure. The idea that it could become a developed nation in our lifetimes seemed laughable not too long ago. Not anymore. Today it is a tangible, achievable, time-bound goal.

Developed Nation Building. Viksit Bharat. By 2047.

This is not just a vision—it is Z47’s purpose.

Z47 began as Matrix Partners India in 2006 with a simple belief: we back founders over markets. Founders first. When we started, conventional wisdom in the investing world was that one should back markets—not people. Good businesses in great markets were seen as the best formula for investing. Yet, my own experience had been different. Watching the extraordinary Steve Jobs up close at Apple and building Baazee, India’s first online marketplace, taught me a fundamental truth: business building is hard. Markets and businesses don’t execute—people do. Founders do.

Eighteen years into this journey, this belief in founders is now commonplace, thanks to the incredible value creation by founders globally and locally. During this time, we’ve had the privilege of partnering with founders who are more than entrepreneurs—they are the architects of a developed India. They are the new industrialists, or perhaps the digital industrialists, of our age.

So we have come to see ourselves not merely as seekers of financial returns but as partners in this transformative journey of nation-building. This is my life’s work—my Ikigai. It is also a shared purpose for the Z47 team: contributing to the most populous country claiming its rightful destiny. We feel incredibly privileged and grateful to be alive at a time when we can contribute to this once-in-a-lifetime opportunity.

History shows that transformative eras define nations: the U.S. emerged as a superpower after World War II, Japan and South Korea revolutionized electronics, and China reimagined manufacturing at scale. Now, we're at the dawn of India's transformation—digitally led—thanks to our unique, world-class digital public infrastructure that is being adopted the world over. 

AI, software, advanced manufacturing, semiconductors, electric vehicles, space, and defense industries are seeing indigenous innovation, embodying the vision of ‘Make in India for the World.’ Cross-border trade is unlocking new markets; financial services are democratizing access for millions; and consumer businesses are redefining how we consume, travel, and entertain. Emerging new areas in renewable energy, robotics, quantum computing, health, and biotech are waiting to be tapped by brilliant founders.

These aren't just the sectors we invest in—they're the building blocks of India’s future. And founders are reshaping how more than a billion Indians live, work, and thrive. As one talented founder said, ‘In these times of a country’s journey, ambition is not a choice. It’s a responsibility.’ To the bold and visionary founders building India’s future: you inspire us. We thank you for taking on this tremendous responsibility and promise to be by your side.

Z47 is by founders, for founders—we are the most operator-led investor in the country, with many former founders, business builders, and operators as investors. With the dream of a developed India by 2047 as our inspiration, we strive to be more than investors—we aim to be the most trusted partner for founders. We’re not just dreaming of this future; we are committed to being in the trenches, building it together. Our investors share this vision, and we are thankful for their partnership and trust.

Let’s shape the next chapter of limitless possibilities—together, with Z47.

Avnish Bajaj, Founder and Investor, on behalf of Team Z47