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Monday, March 4, 2024

VC firm Z3Partners gets funds from SIDBI, HDFC Life for digital & tech startups

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Venture capital company Z3Partners has secured funds from institutional investors like SIDBI, and HDFC Life.  The fund will mainly invest in eight to ten early-growth, digital and tech firms  whose ticket size is Rs. 50–80 crore.

Z3Partners, a venture capital firm, has raised INR 550 Cr as the final closure of its fund. The venture capital business has received funding from institutional investors such as HDFC Life and SIDBI.

With a ticket size of INR 50-80 Cr ($6-10 Mn), the fund will primarily invest in eight to tn early-growth, digital and IT firms. Z3Partners is an early-growth stage investor-operator that invests in Series A/B stage firms.

Cyfirma, social ecommerce firm DealShare, agritech platform Gramophone, SaaS-based logistics management platform Shipsy, and AI-led celebrity interaction platform True-Fan are among the five investments made by the VC business.

Gautam Patel, who previously invested in BigBasket, MedGenome, OfBusiness, and Pepperfry, formed Z3Partners in 2019.

The key investment topics of the Z3Partners fund include SaaS, fintech, ecommerce, B2B commerce, agritech, big data, consumer tech, and all things tech-enabled.

Gautam Patel, founder and managing partner of Z3Partners, stated, “At Z3Partners, our mission is to find the most disruptive and cutting edge businesses and offer them the required support to evolve into industry leaders. The same mentality is evident in our LP base, with industry giants like HDFC Life and SIDBI as Fund investors, leading in a final close well ahead of schedule.”

Z3Partners raised INR 100 Cr in 2021, marking the first closing of its first fund with a goal corpus of INR 730 Cr ($100 Mn) aimed towards high-growth businesses in the consumer and corporate sectors.

Meanwhile, Rishi Maheshwari has joined Z3Partners as a cofounder and managing partner.

Maheshwari has over 18 years of expertise in investment management and investment banking in the United States, India, and emerging markets.

Lighthouse Canton, a Singapore-based global investment business, also announced the first closing of its INR 550 Cr India-focused venture debt fund on Monday.

Dallas Venture Capital (DVC) also announced the first closing of its INR 350 Cr India-focused fund for enterprisetech businesses a few days ago. In 2022, there were 126 funds introduced, according to the number of funds launched recently.

Venture capital, micro, corporate VC, and debt funds were among them. These funds raised more than $18 billion in total to invest in Indian companies.

In comparison, just 61 funds were launched in 2021, earning more than $6 billion for startup investments.

Sixty-two percent of the 126 funds formed in 2022 were focused on early-stage businesses, while the other 38 percent were focused on growth and late-stage startups.

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