Z3 Partners, which is currently raising this Rs 500 crore fund, has already backed top-tier startups like Cyfirma, DealShare, Gramophone, Shipsy and True-Fan
HDFC Life, one of India’s leading life insurance companies, has invested in a new fund from Z3Partners called ‘Z3Partners Tech Fund’, which is a venture capital (VC) fund focused on technology and digital investments. The goal is to invest in and nurture the best tech and digital entrepreneurs in India. Z3 Partners, which is currently raising this fund of Rs. 500 crore, has already backed top-tier startups like Cyfirma, DealShare, Gramophone, Shipsy and True-Fan.
Z3Partners was founded by Gautam Patel whose previous investments included BigBasket, MedGenome, OFBusiness, Pepperfry, etc. Z3Partners invests in leading technology and digital startups that are focused on exponential growth and proven unit economics and serve large addressable markets using world-class execution and disruptive technology solutions. The fund posted its second close of Rs. 250 crore last year and is on track to complete the final closing this year.
Gautam Patel, Managing Partner, Z3Partners says, “HDFC Life is one of the most respected and trusted financial institutions in India. Their high management and quality standards are reflected in every aspect of their business. 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. 35-80 crowns. Given the operational experience of the team at Z3Partners, they work closely with their portfolio companies. With Unicorn already in the portfolio (DealShare), Z3Partners is doing extremely well with the goal of building a portfolio of 8-10 companies.