VC Firm Matrix Partners Opens New York Office

NYC New York Skyline

Photo: Dan Frommer

Matrix Partners is opening a new office in New York City, headed up by general partner Nick Beim, the venture capital firm announced today.Matrix has existing offices in the traditional venture hubs of Silicon Valley and Boston, as well as in India and China. But the firm is already invested in New York, with stakes in Gilt Groupe,, Intent Media and Conductor.

Beim expects that “New York will become an increasingly prominent hub of Internet innovation over the next 10 years” because of a big digital presence in the media, advertising, retail, and financial services industries.

We’ve seen an extensive back and forth here about the merits of the New York startup scene over the past few weeks. Matrix is betting some money that the city’s advocates have the right of it.

Matrix won’t be the last VC firm to move a big “hitter” to New York, predicts angel investor and entrepreneur Chris Dixon, who tweets: “Which firms are next?”

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