HDFC Life commits to support Indian startup ecosystem; invests in digital VC fund

Mumbai, July 12 (KNN) Pledging its support towards Indian startup ecosystem, HDFC Life has invested in 'Z3Partners Tech Fund' which is a tech and digital investment-focused Venture Capital (VC) fund.

The investment amount made by the insurance firm is undisclosed and Z3Partners is currently raising funds to the tune of Rs 500 crore. 

It has already backed startups like Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan. 

Speaking about the investment, Gautam Patel, Managing Partner, Z3Partners said, "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," he added. 

Patel founded Z3Partners whose prior investments have been BigBasket, MedGenome, OFBusiness, Pepperfry, etc. 

The Fund announced its second close of Rs 250 crore last year and is on track to do the final close this year.  (KNN Bureau)