Cornerstone Ventures Announces Second Fund with $200 Million Corpus

The venture capital firm Cornerstone Ventures announced the opening of its second fund, which has a $200 million target amount and a $50 million greenshoe option.

According to a statement from Cornerstone Ventures, the fund would have a 12-year lifetime and offer customisable ticket sizes that range 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 as reported by ET.

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“We particularly like innovations that catalyse 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 do not require capital for sustenance but really to drive growth,” said Abhishek Prasad, managing partner of Cornerstone Ventures.

In 2019, the company launched its inaugural Cornerstone Ventures Fund-I, which had a $50 million budget. The capital was distributed among 21 portfolio businesses, with a primary emphasis on business models involving B2B corporate software-as-a-service.

Cornerstone Ventures's investments are in software businesses catering to enterprise users across financial services, retail, logistics, healthcare, and select sector-agnostic opportunities.

About Cornerstone Ventures

Cornerstone Venture Partners (CSVP) Fund was founded by Abhishek Prasad and Rajiv Vaishnav, is a frontier enterprise SaaS VC Fund investing in highly scalable enterprise technologies with a strong moat. The fund invests from pre-Series A to Series B.

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