[ad_1]
- HDFC, India’s leading life insurance company, has invested in ‘Z3Partners Tech Fund’, a venture capital (VC) fund focused on technology and digital investments.
- Z3Partners wants to build a portfolio of 8-10 companies
- Z3Partners raises ₹500 crore for Z3 Partners Tech Fund.
- The fund invests ₹35 crore – ₹80 crore in an early growth stage digital startup.
HDFC Life, one of India’s leading life insurance companies, has invested in Z3Partners’ new fund called ‘Z3Partners Tech Fund’, a venture capital (VC) fund focused on technology and digital investments.
The fund will invest in and nurture technology and digital entrepreneurs in India. Z3 Partners, which is currently raising this ₹500 crore fund, has already backed startups like Cyfirma, Gramophone, Shipsy and A true fan.
Z3Partners was founded by Gautam Patel, whose previous investments include BigBasket, MedGenome, OFBusiness and Pepperfries. Z3Partners invests in market-leading technology and digital startups. The fund announced its second close of ₹250 crore last year and is on track for the final close this year.
“We are excited to bring HDFC Life on board this journey to invest in the best technology and digital companies that are backed by world-class entrepreneurs. We believe this venture will translate into providing support and leadership to the Indian startup ecosystem,” said Patel.
Z3Partners invests in unicorn DealShare and aims to build a portfolio of 8-10 fintech companies. The tech fund invests ₹35 crore – ₹80 crore in early-stage shortlisted companies.
SEE MORE:
Even with ₹2,800 crore in bank, we are not efficient at all: Unacademy’s Gaurav Munjal
Indian politicians not happy that 8 out of 10 UPI transactions are done through PhonePe and Google Pay
TCS falls and drags down Wipro, Infosys, Tech Mahindra and LTTS with weak gains
[ad_2]
Source link