HDFC Life Invests In Z3Partners Tech Fund The objective is to invest in and nurture the highest quality tech and digital entrepreneurs in India
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HDFC Life, an insurance company, has invested in Z3Prtners Tech Fund, which is a tech and digital investment focused venture capital fund. The objective is to invest in and nurture the highest quality tech and digital entrepreneurs in India. Asper company statement, Z3Partners, which currently raises INR 500 crore, has already backed startups like Cyfirma, DealShare, Gramophone, Shipsy and True-Fan.
"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 Z3Partners Tech Fund invests INR 35 to 80 crore. With a Unicorn already in the portfolio, the company is performing extremely well with an aim to build a portfolio of 8 to 10 companies. They spend 50 per cent of their time with investee companies as their trustworthy partners, claimed by the company in a statement.
Founded by Gautam Patel, 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 world-class execution and disruptive tech solutions. The company claimed that it is known to back early trends, and discover terms and businesses that represents quality at scale and good governance, resulting in rewarding Fund's investors with consistent and noteworthy investment returns.