HDFC Life invests in the Z3Partners Tech Fund

12 Jul 2022 , 10:56 AM

The life insurance company HDFC Life has invested in Z3Partners’ new Venture Capital (VC) fund, “Z3Partners Tech Fund,” which focuses on technology and digital investments.

Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan are just a few of the firms that Z3 Partners has already sponsored. Z3 Partners is now raising money to the tune of Rs500 crore.

Gautam Patel, who previously invested in BigBasket, MedGenome, OFBusiness, Pepperfry, etc., created Z3Partners. Last year, the Fund announced the second close of Rs250 crore and is on schedule to complete the third close this year.

The managing partner of Z3Partners, Gautam Patel, stated that HDFC Life is one of the most reputable and well-respected financial companies in India. We are thrilled to have HDFC Life join us on this venture to invest in the top IT and digital businesses that are supported by renowned businesspeople. We think that our effort will result in supporting and leading the Indian startup ecosystem.

Z3Partners makes investments in early-stage IT and digital businesses. Z3Partners Tech Fund invests between Rs35 and Rs80 crore.