Life insurance firm HDFC Life has invested in Z3Partners’ new fund, ‘Z3Partners Tech Fund’, which is a venture capital (VC) fund focused on technology and digital investments.
Z3 Partners, currently raising Rs 500 crore, has already backed startups such as Cyfirma, DealShare, Gramophone, Shipsy and True-Fan.
Z3Partners was founded by Gautam Patel whose previous investments included BigBasket, MedGenome, OFBusiness, Pepperfry, etc. The fund announced its second close of Rs 250 crore last year and is on track to complete the final close this year.
Gautam Patel, Managing Partner, Z3Partners said, “HDFC Life is one of the most respected and trusted financial institutions in India. We are excited to have HDFC Life on this journey to invest in the best technology and digital companies backed by world-class entrepreneurs. We believe this venture will translate into providing support and guidance to the Indian startup ecosystem.”
Z3Partners invests in early growth digital and technology companies. Z3Partners Tech Fund invests Rs 35-Rs 80 crore.
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