The $40 million Fund II, with anchor investor WestBridge Capital contributing $20 million, has seen its first close, according to venture capital firm z21 Ventures focused.
Fund II was announced in June 2024, one month after the venture capital firm’s first $5 million fund was fully deployed and empowered 26 startups.
Fund II, according to z21 Ventures, will keep funding innovative tech startups in a range of industries, such as enterprise software, healthcare, and artificial intelligence. Pre-seed and seed-stage investments in businesses with solid teams, cutting-edge technologies, and significant market potential will remain the fund’s main priorities.
In order to facilitate founders’ faster growth, z21 Ventures claims to have adopted a community-first strategy. Leading operators and specialists who will coach and assist founders will provide a portion of Fund II’s funding.
Raj Singh and Abhinav Shashank cofounded z21 in 2022 with an emphasis on early-stage technology investments. The investment firm engages in businesses in a number of industries, such as enterprise software, healthcare, and artificial intelligence. The fund’s partners are Jyotika Gupta and Sudarshan Ravi Jha.
With more than $7 billion in assets under management, WestBridge Capital is an investment firm based in the US and India. The company makes investments in consumer, financial, and software companies that are both private and public. Among the businesses it has invested in are Innovaccer, KPN, Rapido, PhysicsWallah, Star Health, Indigo Airlines, and many more.
