Z21 Ventures launches $5 million fund to invest in tech startups

Z21 Ventures, an early stage venture capital firm founded by founders and senior executives in the technology industry has raised a $5 million fund to invest in Indian startups.

Founded by the founders of Software as a Service (SaaS) unicorn Innovaccer - Abhinav Shashank and Raj Singh, the venture capital firm will give promising startups cheques in the range of $100k to $250k at the seed stage of investment. Z21 Ventures's investment philosophy will be a community-based approach of investing into startups.

Z21 Ventures General Partner Raj Singh said the Indian startup ecosystem has now achieved a certain level of maturity and this has led to emergence of new kinds of tech startups who aim to build global software products. Though, he felt that there were some gaps both in terms of funding as well as guidance.

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What makes Z21 Ventures different?

Z21 Ventures aims to differentiate itself with the limited partners in the fund also being CXOs at various technology companies both in US and India who can provide all kinds of support besides the money to the startups. “There is a vibrant community in the Silicon Valley that is keen on helping and supporting the tech startups in India,” said Raj.

The partners at Z21 Ventures know the struggles they went through while building their business in the past and are keen to help the Indian tech startups with their experience and connect on various fronts like next round of investment, customers, hiring, strategy etc.

“We have a wide array of expertise because of our community based approach of investment," said Raj.

As part of its future plans, Z21 Ventures will look take the number of advisors on its board to 200 from the present level of 70. Besides, it is also looking at certain collaborations with universities in India to create incubation centres. “We are also targeting a $100 million second fund next year," said Raj.