HDFC Life, one of the leading life insurance company has invested in tech and digital investments-focussed venture capital company called Z3Partners Tech Fund.
Its main objective is to invest in and nurture the highest quality tech and digital entrepreneurs in India.
The Mumbai-based Z3Partners was founded by Gautam Patel, It invests in market-leading technology and digital startups that are focused on exponential growth and proven unit economics and are serving large addressable markets by leveraging world-class execution and disruptive technology solutions.
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It closed its second round of Rs 250 crore last year and average ticket size is around Rs 35-80 crore. The company said it is on track for a final closure of this fiscal year.
The company invests in early-growth digital and technology companies. It has backed startups like Shipsy, Gramophone, DealShare, and Cyfirma etc.
“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 onboard 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”, said, Gautam Patel, Managing Partner, Z3Partners.
The company claimed that it is known for supporting early trends, and seeks regulations and businesses that represent quality and good governance, resulting in the fund’s investors being rewarded with consistent and remarkable investment returns.
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Z3Partners work closely with their portfolio companies. Unicorn (DealShare) is already in the portfolio, and it is doing very well with the objective of build a portfolio of 8-10 companies.
In January 2021, Z3Partners had marked the first close of its debut fund at $14 million.
Their experience spans 20 years of investing and operating tech and digital businesses. Along this journey, they have been instrumental in helping entrepreneurs build large, profitable and sustainable businesses. They are known to back early trends, and discover teams and businesses that represent quality-at-scale and good governance, resulting in rewarding their investors with consistent and noteworthy investment returns.
Their team comprises of 70 years of combined investment and leadership operating experience. They spend over 50% of their time with their investee companies as their trustworthy partners. They operate within a strong and active network of entrepreneurs, investors, leading businesses and international relationships that are made available to their investee companies at all times.