Z3Partners, a leading Indian technology and digital investment firm, said on Tuesday it had closed Rs 550 crore for its latest fund, which will invest primarily in 8-10 early-stage growth digital and tech startups with a par size of Rs 50- 80 crore.

Leading global and domestic institutions and family offices, including HDFC Life and SIDBI, participated in the fund.

Z3Partners said it had made five investments in cybersecurity startup Cyfirma, social e-commerce company DealShare, agtech platform Gramophone, SaaS-based logistics management leader Shipsy and AI-led celebrity engagement platform True-Fan.

DealShare will become a unicorn in 2022 after closing a $165 million Series E funding round.

“Our vision is to identify the most disruptive and cutting-edge startups and provide them with the support they need to grow into market leaders,” said Founder and Managing Partner Gautam Patel.

The venture capital firm also announced Rishi Maheshwari as co-founder and managing partner. Maheshwari has held various senior management and board positions in local and international organisations.

Z3Partners Fund works closely with founders to help them refine go-to-market strategies and make client introductions to accelerate growth.

Founded by Patel in 2019, Z3Partners has invested in Bigbasket, MedGenome, OfBusiness and Pepperfry in Series A and B rounds of early-stage growth companies.