18684v1-max-250x2501Matrix Partners announced today that it’s closed its ninth fund at $600 million, with plans to finance consumer internet, software and telecommunications startups.

This is a pretty impressive feat for any fund considering how difficult it has been for most firms to raise money since the downturn. Matrix simply says it is fortunate to have committed limited partners. Maybe this is because it’s been around for 30 years and has an established reputation. Even when returns have been meager, it hasn’t had trouble scraping together investments. Then again, in the toughest of times, it has pulled through for its investors — it is one of the few funds that has achieved a successful exit in the past year, selling off portfolio company PostPath to Cisco Systems for $215 million (seven times more than the original investment).

The $600 million is actually comprised of two funds — one worth $450 million and the other a side “special opportunities fund” worth $150 million. The firm plans to start out by distributing seed financing ranging between $100,000 and $300,000, and early stage financing up to $10 million.

For a while now, Matrix has been grouped in the same tier as funds like Benchmark Capital, Kleiner Perkins Caufield & Byers and Sequoia Capital. The major difference has been that it hasn’t typically focused on consumer-facing startups. But now there are signs that it’s ramping up to take its place among the big boys. Namely, it’s added two new partners in the last year.

Matrix has also stepped up its international activity — closing a $250 million fund in China and a $400 million fund in India in the last three years.

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