HDFC Life invests in ‘Z3Partners Tech Fund’

By Leandra Monteiro

HDFC Life, one of India’s leading life insurance companies has invested in Z3Partners’ new fund named ‘Z3Partners Tech Fund’ which is a tech and digital investment-focused Venture Capital (VC) fund. The objective is to invest in and nurture the highest quality tech and digital entrepreneurs in India. Z3 Partners, which is currently raising this Fund of INR 500 crore, has already backed best quality startups like Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan.

Z3Partners is founded by Gautam Patel whose prior investments have been BigBasket, MedGenome, OFBusiness, Pepperfry, etc. Z3Partners invests 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 execution and disruptive tech solutions. The Fund announced its second close of INR 250 crores last year and is on track to do the final close this year.

Gautam Patel, Managing Partner, Z3Partners 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 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 start-ups ecosystem.”

Z3Partners invests in early growth digital and tech companies. The Z3Partners Tech Fund invests INR 35-80 crores. Given the operating backgrounds of the team at Z3Partners they work closely with their portfolio companies. With a Unicorn already in the portfolio (DealShare), Z3Partners is performing extremely well with an aim to build a portfolio of 8-10 companies.