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Matrix Partners India invests INR 22 crores in Waterlife

Mumbai, India –December 12, 2011: Matrix Partners India today announced that it has invested INR 22 crore in Waterlife India Private Limited (Waterlife). Waterlife is a pioneer in providing high quality potable water solutions to the underserved in an affordable and sustainable manner. Waterlife has installed safe water systems in more than 1,500 villages & urban areas covering more than 1 million people in a sustainable manner. “This capital infusion provides Waterlife the growth capital to expand its scale in the underserved potable water space. We started our work in West Bengal & Uttar Pradesh and presently work in six states to provide potable water solutions. We are now poised to emerge as the leading player in this segment across India. We are very impressed with Matrix’s deep understanding of the water sector & are very pleased to have them as our partner” said Sudesh Menon, Managing Director, Waterlife India Private Limited. "It is our privilege to be associated with the Promoter team of Sudesh Menon, Mohan Ranbaore & Indranil Das. We believe water will remain a high growth sector driven by strong government focus & socio-economic relevance of water as a resource and this is our 2nd investment in the sector. We believe Waterlife with its innovative business model complemented by a high quality management team is set to emerge as a leader in the potable water segment” said Avnish Bajaj, co–founder & Managing Director, Matrix India. About Waterlife India Private Limited: Waterlife India ( www.waterlifeindia.com ) is a ISO 9001:2008 Certified company focused on providing high quality potable water to underserved and challenging areas in an affordable and sustainable manner, while focusing on green and environmentally friendly technologies. Affordability, focus on quality with long term service and a viable economic model has been the crux of the Waterlife model. The Company installs contamination removal units, community water systems, mobile water units, apartment and institutional systems and implements water supply schemes for communities across India. The Waterlife installation base & operations have registered an exponential growth since its inception in 2009. About Matrix Partners India: Matrix Partners India is an investment firm with INR 3,000 crore under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to INR 125 crore in a company depending on its stage of development and has invested in several companies including Chetas (Water metering solutions), Center for Sight (eye care chain), Muthoot Finance (gold loan NBFC), Quikr (online classifieds), Tree House Education (preschool and K-12 schools), and Ver se Innovation (mobile classifieds) among others. Matrix Partners has a global network of funds investing in the US, China and India with US $3 billion under management. Further information is available at www.matrixpartners.in For more information, please contact: Sutopa Chatterjee / 040-27709889

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