Z3partners raises Rs 550 cr for tech investments

Mumbai: Technology investor Z3partners on Tuesday announced a Rs 550 crore fundraise from a clutch of institutional backers. This is the final close for the fund and aims to deploy up to Rs 80 crore apiece in 8-10 early-growth, digital and tech startups from the recent fundraise, a statement said. It has already made five investments, including cybersecurity startup Cyfirma, social e-commerce unicorn Dealshare, agri-tech platform Gramophone, logistics management company Shipsy, and celebrity engagement platform True-Fan.
Global and domestic institutions and family offices have committed money for the fund, including HDFC Life and the state-run SIDBI (Small Industries Development Bank of India), the statement said.
The 2019-founded fund also announced that former Goldman Sachs executive Rishi Maheshwari has joined it as the managing partner. The fund said it works as an investor-operator, closely engaging with founders to help them refine their ‘go to market’ strategies, and makes customer introductions to accelerate growth. “…our vision is to identify the most disruptive and cutting edge startups and provide them with necessary support to grow into market leaders,” its founder and managing partner Gautam Patel said.