We compare the \((0,2)\) theory of the single M5 brane decoupled from gravity in the lightcone with transverse \(R^4\), and a matrix model description in terms of quantum mechanics on instanton moduli space. We give some tests of the Matrix model in the case of multi fivebranes on \(R^4\). We extract constraints on the operator content of the field theory of the multi-fivebrane system by analyzing the Matrix model. We also begin a study of compactifications of the \((0,2)\) theory in this framework, arguing that for large compactification scale the \((0,2)\) theory is described by super-quantum mechanics on appropriate instanton moduli spaces.