Fund News
Z21 Ventures planning $40-M second VC fund
Z21 Ventures , which backs startups in India as well as those started by Indian-origin founders in the US, is planning to launch a second fund of USD 40 million. The fund will invest USD 0.5-1 million in startups operating in the enterprise, software and hardware areas. The fund will also look at participating in follow-on rounds of its portfolio companies.Z21 Ventures was set up in 2022 by Abhinav Shashank, cofounder and CEO of healthcare focused software-as-a-service (SaaS) unicorn Innovaccer, and Raj Shekhar Singh, a former senior executive at Innovaccer. The California-based investment firm operates as a collective of Indian-origin technology executives in the US, who are limited partners (LPs), or sponsors of the fund. These include executives at firms such as Innovaccer and Nutanix, in addition to Google, Cisco, Apple, Amazon and Meta. Z21 Ventures has fully deployed its first USD 5 million fund across 27 startups.
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