Cornerstone Ventures, an organization that specializes in business-to-business (B2B) enterprise technology investments, announced the opening of its second fund. The fund has a $200 million target size, with a $50 million greenshoe option included.
According to a statement from Cornerstone Ventures, the fund would have a 12-year lifetime and offer customizable ticket sizes ranging from $5 million to $15 million in a mix of early- to growth-stage firms. With the most recent fund, it intends to invest in 15 to 20 firms.
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Company intends to make investments in a variety of software platforms and marketplaces that serve industries like retail, consumer goods and e-commerce, financial services and insurance, distribution and supply chain, and healthcare goods and services.
“Particularly like innovations that catalyze core business processes, tend to engage multiple stakeholders across the value chain, thus building multiple revenue streams, and have demonstrable account-level profitability,” said Abhishek Prasad, managing partner of Cornerstone Ventures. “Such businesses do not require capital for sustenance but really to drive growth.
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The firm first launched its Fund-I in 2019 with a size of about $50 million. The fund was deployed across 21 portfolio companies, primarily focused on B2B enterprise software-as-a-service business models.
About Cornerstone Ventures
Cornerstone Ventures India’s frontier enterprise SaaS venture capital fund, Cornerstone Venture Partners (CSVP) Fund, makes investments in highly scalable business solutions that have a robust moat. Pre-Series A through Series B investments are made by the Fund.
