Cornerstone Ventures will invest ticket amounts ranging from $5 million to $15 million, with a primary concentration on early-growth stage firms. It will concentrate on B2B tech potential across software platforms and marketplaces operating in various industries. Cornerstone Ventures established its fund 1 in mid-2019 with a size of around $50 million.
Cornerstone Ventures, a Mumbai-based venture capital (VC) firm, has established its second fund with a target corpus of $200 million, including a green-shoe option.
The fund’s investment ticket sizes range from $5 million to $15 million. It employs a multistage strategy, with a primary focus on early growth stage firms.
The main focus will be on business-to-business (B2B) technology prospects in software platforms and marketplaces that function in various industries, including insurance and financial services, retail, consumer goods and e-commerce, distribution and supply chain, healthcare products and services, and core technology innovations that are not specific to any particular industry.
The portfolio firms of the inaugural fund include Credilo, THB, Blubirch, and Dhiway.
According to a release, the fund’s goal is to provide entrepreneurs with considerable value beyond finance, such as access to a big enterprise client ecosystem, strategic funding from next-round investors, and a vast network of mentors and go-to-market partners.
Cornerstone Ventures also intends to pursue early-stage companies with the potential to alter enterprise enterprises and generate long-term development in a rapidly changing technological ecosystem through this fund.
According to Inc42, Cornerstone Ventures’ managing partner, Abhishek Prasad, stated, “Our second fund builds on the success of Fund-I and demonstrates our commitment to supporting emerging B2B enterprise Tech opportunities.” We intend to support some of the largest value producers in the field of ‘Next Generation Enterprise Technologies’, whether they are building in India for the global market or solely for the domestic market.”
“We particularly like innovations that catalyze core business processes, tend to engage multiple stakeholders across the value chain thus building multiple revenue streams, and have a demonstrable account-level profitability,” says Prasad.
Cornerstone Ventures, founded by former Reliance executives Rajiv Vaishnav and Abhishek Prasad, invests in early-stage B2B enterprise tech firms.
Cornerstone Ventures established its fund 1 in mid-2019, with a size of around $50 million. Fund-I has already been deployed across 21 portfolio businesses, with a primary focus on B2B corporate SaaS business models. Its portfolio firms include NimbleBox.AI, CreditNirvana, and UniAcco, among others.
