Cornerstone Ventures launches first round of $200 mn for its second fund

Cornerstone Ventures, a venture capital firm focused on SaaS, has raised about $40 million in the first close of its $200 million second fund.

The firm has also added Suresh Pareek as its new General Partner. He is the founder of Sukvi Ventures and co-founder of Elephant Canvas LLP, a digital fine art NFT marketplace called NewartX.

The first close of the fund includes investments from domestic investors, such as high-net-worth individuals (HNIs), family offices, corporations, and other institutions.

Read also - Tata Capital raises $400 Million Through its First Dollar-Denominated Bond Issue

The fund will invest between $5 million and $15 million in early- to growth-stage startups across various sectors, including financial services, insurance, retail, ecommerce, supply chain, and healthcare.

Since it started, Cornerstone Ventures has supported innovative startups with capital and expertise. The firm has already invested from its first fund raised in 2018, backing companies like NRT, Blubirch, Mystifly, Olive Gaea, and others.

About Cornerstone Venture Partners

Cornerstone Venture Partners (CSVP) Fund focuses on investing in scalable enterprise SaaS technologies in India, targeting pre-Series A to Series B startups.

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