12 April 2024 – Venture capital Company Cornerstone Ventures, which specializes in business-to-business (B2B) enterprise technology investments, announced on Tuesday the opening of its second fund. The fund has a $200 million target size, with a $50 million greenshoe option.
According to a statement from Cornerstone Ventures, the fund would have a 12-year lifetime and provide 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.
The Mumbai-based 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.
Conclusion
According to Cornerstone Ventures managing partner Abhishek Prasad, “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 demonstrable account-level profitability.” “Such businesses really need capital to drive growth, not for sustenance.”
