India, Dec. 6 -- Z47 (erstwhile Matrix Partners) has completely exited listed EV company Ola Electric. The VC firm's name doesn't appear in the list of Ola Electric's shareholders at the end of September 2025 quarter.

Notably, Z47 held 8.5 Cr shares, or a 1.93% stake, via Matrix Partners India Investments of the Bhavish Aggarwal-led EV maker at the end of June quarter.

Z47 first invested in Ola Electric in 2019, along with Tiger Global. In Q1 FY26, both Z47 and Tiger Global diluted their stakes in the EV company. Z47 earned around INR 144 Cr by diluting its stake by 0.81%.

Z47's complete exit from the EV company bagged 7-10X returns on its investment of INR 107 Cr, ET reported, citing sources.

The report added that the VC firm is curr...