One of India’s leading life insurance companies, HDFC life, has invested in Z3Partners’ a new fund named ‘Z3Partners Tech Fund’, a tech and digital investment-focused Venture Capital (VA) fund. The company aims to invest in and nurture the highest quality tech and digital entrepreneurs in India.
Z3 Partners has backed best quality startups including CyFirma, DealShare, Gramophone, Shipsy, and True-Fan. The Z3 Partners is currently raising the Fund of Rs. 500 crores. It is founded by Gautam Patel who previously invested in BigBasket, MedGenome, OFBusiness, Pepperfry, etc. They invest in market-leading tech and digital startups which are focused on exponential growth and proven unit economics and are servicing large addressable markets by leveraging world-class execution and disruptive tech solutions. The final close is on track to do the final close this year, however its second close of Rs. 250 crores was concluded last year, as announced by the Fund.
Managing Partner of Z3Partners Gautam Patel said, “HDFC Life is one of the most respected and credible financial institutions in India. Their high governance and quality standards reflect in every aspect of their business. We are excited to have HDFC Life on board for this journey to invest in the best tech and digital companies that are backed by world-class entrepreneurs. We believe this endeavour will translate into providing support and leadership to the Indian startup ecosystem.”
Z3Partners invests in pre-seed digital and tech companies, it invests Rs 35-80 crores. Additionally, they work closely with their portfolio companies and have got a Unicorn already in their bag through (DealShare), furthermore, the Z3Partners is performing remarkably well with an aim to build a portfolio of 8-10 companies.
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