Matrix Partners has closed its new fund, Matrix China Partners III, at $350 million. This is the same amount that its predecessor fund Matrix China Partners II was closed at in 2011. In total, Matrix Partners has over $1 billion across multiple funds under management for investments in China. The firm focuses on investment in early-stage technology, media and communication, and healthcare. The company's investment team in Beijing is led by David Zhang, David Su and Bo Shao.