Mumbai-based Z3Partners has announced the final close of its new fund at Rs 550 crore ($67M).
Leading global and domestic institutions and family offices have participated in the fund, including HDFC Life and SIDBI.
The fund will primarily invest in eight to ten early-growth, digital and tech startups with a ticket size of $6 million to $10 million.
Z3Partners has already made five investments — cybersecurity startup Cyfirma, social e-commerce firm DealShare, agritech platform Gramophone, SaaS-based logistics management leader Shipsy, and AI-led celebrity engagement platform True-Fan.
DealShare had also turned unicorn in 2022 after its $165 million Series E financing round.
Founded in 2019 by Gautam Patel Z3Partners is an early-growth stage investor-operator that invests across early-growth companies in Series A/B stage. The fund’s core investment themes focus on SaaS, fintech, e-commerce, B2B commerce, agritech, Big Data, consumer-tech and all things tech-enabled.
Z3Partners is an investor-operator and closely engages with founders to help them refine their GTM and makes customer introductions to accelerate growth. The fund also lends support from time to time in helping its portfolio companies with digital and product marketing strategy, and developing and retaining senior talent.
Z3Partners also announced Rishi Maheshwari joining as co-founder and managing partner. He has over 18 years of investment management and investment banking experience across the U.S., India and Emerging Markets and has held several senior management and board positions in organisations locally and internationally.
Gautam Patel, founder and managing partner, said, “At Z3Partners, our vision is to identify the most disruptive and cutting-edge startups and provide them with necessary support to grow into market leaders. The same philosophy is reflected across our LP base, too, with market leaders like HDFC Life and SIDBI as our Fund investors; resulting in a final close well ahead of schedule. We are also delighted to welcome Rishi to Z3Partners. He and I invested in BigBasket together and are looking forward to building Z3Partners into the premium digital and tech investment platform of choice in India.”