About Z3Partners
Z3Partners is a venture capital firm founded in 2019. It is primarily based out of Mumbai, India. As of Jan 2026, Z3Partners is an active investor, having invested in 18 companies, with 1 new investment in the last 12 months. It primarily invests in Series B round in India based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and Food and Agriculture Tech. Most recently it participated in the $***** Series A round of Mesa School of Business Overall, Z3Partners portfolio has seen 2 unicorns, 1 IPO and 5 acquisitions including key companies like MakeMyTrip, Bigbasket and DealShare. A lot of funds co-invest with Z3Partners, with names like WestBridge Capital sharing a substantial percentage of its portfolio. Z3Partners has team of 5 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Rounds of Entry
Series A, Series B & 2 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
Z3Partners' List of Top Investments
Z3Partners has a portfolio of 18 companies, including 2 unicorns. Their most notable investments are in Cyfirma Security and ACHF.Their portfolio spans across India, Singapore and United States. They have invested in Enterprise Applications, Consumer, Food and Agriculture Tech and 14 other sectors, across stages such as Series A, Series B and 2 more. Here is the list of top investments by Z3Partners:1. MakeMyTrip
Online travel platform offering booking services. It offers platform for booking and managing various travel arrangements, including flights, hotels, and packages, serving customers.
Key facts about MakeMyTrip
- Founded Year: 2000
- Location: Gurugram (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2025
- Stage: Public
- Total Funding till date: $39M
- Employee Count: 7,520 as on Jun 30, 2026
- Investors: Helion Venture Partners, Naspers and 11 Others
- Latest Funding Round: Post IPO, Jun 17, 2025, $*****
- Highlight: Public
2. Bigbasket
Online retailer of grocery, household, beauty, and personal care products. It provides a selection of food items, cleaning supplies, and personal care products. The business offers delivery options with varied time slots. It also provides an express delivery service for immediate needs in select areas.
Key facts about Bigbasket
- Founded Year: 2011
- Location: Bengaluru (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $943M
- Employee Count: 22,095 as on May 31, 2025
- Investors: Helion Venture Partners, LionRock Capital and 68 Others
- Latest Funding Round: Conventional Debt, Nov 20, 2025, $*****
- Highlight: Acquired
3. DealShare
Online social deal-sharing platform for multi-category products. The company offers deals on various products like fruits and vegetables, grocery items, fashion accessories, home decor products, and more. It allows users to buy and share deals with friends and it offers discounts depending on the number of people purchasing its products.
Key facts about DealShare
- Founded Year: 2018
- Location: Bengaluru (India)
- Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $387M
- Employee Count: 445 as on Aug 31, 2025
- Investors: ADIA, Dragoneer Investment Group and 65 Others
- Latest Funding Round: Series E, Jan 27, 2022, $*****
- Highlight: Editors' Pick
4. Pepperfry
Online platform offering multi-category home products. The product catalog includes furniture, decor, mattress, lighting, home textiles, furnishings, home appliances, etc. The mobile application is available for Android and iOS users. It also offers consultation services for product customization.
Key facts about Pepperfry
- Founded Year: 2011
- Location: Mumbai (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $319M
- Employee Count: 452 as on Jun 30, 2025
- Investors: Goldman Sachs, State Street Global Advisors and 73 Others
- Latest Funding Round: Series G, Feb 14, 2026, $*****
- Highlight: Acquired
5. Mintoak
Digital payments and engagement solutions for MSMEs. The company provides omnichannel payment solutions, a smart processing solution, tools for retailers to track credit transactions, and more. It also offers services like customer recognition, feedback and ratings, analytics, insights, and more.
Key facts about Mintoak
- Founded Year: 2017
- Location: Mumbai (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $30.6M
- Employee Count: 146 as on Aug 31, 2025
- Investors: PayPal, Z3Partners and 18 Others
- Latest Funding Round: Series A, Dec 11, 2025, $*****
- Highlight: Editors' Pick
Z3Partners' Year-on-Year Investment Trends
Z3Partners has invested in 18 companies over the last 6 years, with an average of 1 new investment annually in the last 5 years. As of Jan 2026, it has made 1 investment in this year. Its most recent first time investment was in Mesa School of Business and most recent follow-on round was in Gramophone.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 0 | 0 | 0 |
2024 | 3 | 1 | 4 |
2023 | 0 | 1 | 1 |
2022 | 2 | 0 | 2 |
2021 | 1 | 1 | 2 |
2020 | 2 | 0 | 2 |
Z3Partners' Investments by Stage
Z3Partners has made 3 investments in Series A stage with an average round size of $4.42M, 3 investments in Series B stage with an average round size of $17.2M, 2 investments in Series C stage with an average round size of $24.2M and 1 investment in Series D stage with an average round size of $31.7M.Stage of entry | No. of Investments |
|---|---|
Series A | 3 |
Series B | 3 |
Series C | 2 |
Series D | 1 |
Note: We have considered here, only first round of investments
Z3Partners' Investments by Sector
Z3Partners has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, EdTech, Food and Agriculture Tech and Vertical SaaS. Notably, it has invested in 16 Tech companies, 10 Consumer (B2C) companies, 10 Enterprise (B2B) companies and at least 9 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 4 |
Enterprise Applications | 4 |
EdTech | 2 |
Food and Agriculture Tech | 2 |
Vertical SaaS | 2 |
Others | 8 |
Note: We have considered here, only first round of investments
Z3Partners' Investments by Geography
Z3Partners has made most investments in India (8), followed by Singapore where it has made 1 investment.Country | No. of Investments |
|---|---|
India | 8 |
Singapore | 1 |
Note: We have considered here, only first round of investments
Z3Partners' recent investments
Z3Partners has made 1 investments in 2026 so far - Mesa School of Business.Here are the most recent investments by Z3Partners:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 07, 2026 | India | Series A | 3677 | [+1] | |
Nov 11, 2024 | India | Series B | 8248 | [+2] | |
Apr 16, 2024 | India | Series C | 1431 | [+4] | |
Apr 09, 2024 | India | Series B | 8439 | [+4] | |
Jan 16, 2024 | India | Series D | 8721 |
Unicorns in Z3Partners' Portfolio
Z3Partners has 2 unicorns in its portfolio - DealShare and OfBusiness. The most recent unicorn in their portfolio is DealShare. It became a unicorn in 2022, 1 years after Z3Partners first invested in it.Here is a list of unicorns in Z3Partners' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
75 | Online social deal-sharing platform for multi-category products | 2018 | Bengaluru | Series E | avytpno | ||
64 | B2B commerce platform specializing in metals, chemicals, fashion, and food-processing | 2015 | Gurugram | Series G | muct{mi |
IPOs and Publicly Listed companies in Z3Partners' Portfolio
1 of Z3Partners' portfolio company became public - MakeMyTrip. It got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Aug 2010 at marketcap of $478MHere are Z3Partners' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 12, 2010 | - | - | 2580 |
Acquired companies in Z3Partners' Portfolio
5 companies from Z3Partners' portfolio have been acquired. The most recent acquisition was Gramophone in Jan 2026 by Unnati for $*****.Here are Z3Partners' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 04, 2026 | Apr 20, 2021 | Series B | 1654 | |
Sep 19, 2025 | - | - | 8867 | |
Aug 30, 2021 | - | - | 2359 | |
Jan 20, 2021 | - | - | 9030 | |
Jan 30, 2017 | - | - | 9486 |
Team profile of Z3Partners
Z3Partners has a team of 5 members including 1 Partner and 2 Principals located in India. Z3Partners' team sits on the board of 2 companies.Here is a list of all team members in Z3Partners:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Mumbai | |||
Principal | Mumbai | - | ||
Principal | Mumbai | - |
Co-investors of Z3Partners
Over the past 6 years, 303 investors have co-invested in Z3Partners's portfolio companies. This includes funds and angels.
- Invested before Z3Partners: Angel List, Kunal Naresh Shah and 239 others have invested in rounds before Z3Partners. There are 3 companies where Angel List has invested before Z3Partners and 2 companies where Kunal Naresh Shah has invested before Z3Partners.
- Top Co-investors of Z3Partners: 31 investors entered a company along with Z3Partners. These include investors like WestBridge Capital (1 company).
- Invested after Z3Partners: A total of 31 investors have invested in Z3Partners's portfolio after their investments. Top Investors include 360 One (2 companies), Alteria Capital (1 company) and Tiger Global Management (1 company).
Recent News related to Z3Partners
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Mintoak gets a new investor Z3Partners through a secondary dealIndiatimes•Jan 09, 2025•Z3Partners, Mintoak, Yes Bank, HDFC Bank and 1 other
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Decoding Atlum Credo’s $40 Mn primary and secondary roundEntrackr•May 31, 2024•Altum Credo, Z3Partners, Oikocredit
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Altum Credo Secures $40 Million in Series C Funding Round Led by Z3 Partners and OikocreditStartup Story•Apr 19, 2024•Altum Credo, Z3Partners, Oikocredit, British International Investment and 3 others
