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.
Business Standard has always strived to provide the latest information and commentary on developments of interest to you that have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our determination and commitment to these ideals. Even during these difficult times resulting from Covid-19, we remain committed to informing and updating you with credible news, authoritative views and incisive commentary on current issues of importance.
We do, however, have a request.
As we fight the economic consequences of the pandemic, we need your support even more so that we can continue to offer you higher quality content. Our subscription model has met with an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve our goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through multiple subscriptions can help us practice the journalism we are committed to.
Support for quality journalism i subscribe to Business Standard.