TLDR:
- Cornerstone Ventures has launched its second fund at $200 million with a target size of $200 million including a green-shoe option of $50 million.
- The fund plans to invest in 15-20 startups across various sectors such as financial services, retail, consumer goods, healthcare, etc.
The Mumbai-based venture capital firm, Cornerstone Ventures, has announced the launch of its second fund with a target size of $200 million, including a green-shoe option of $50 million. The fund plans to invest in 15-20 startups with ticket sizes ranging from $5 million to $15 million. The firm’s focus areas include software platforms and marketplaces in sectors like financial services, retail, consumer goods, healthcare, and distribution and supply chain.
Cornerstone Ventures’ first fund, Fund-I, was deployed across 21 portfolio companies primarily focused on B2B enterprise software-as-a-service business models. The firm’s portfolio companies from the first fund include Credilo, THB, Blubirch, and Dhiway. The fund claims to have facilitated $1-2 million additional annual recurring revenue for each of its portfolio companies and has been actively participating in their growth journeys.
Cornerstone Ventures aims to invest in startups at early to growth stages and help them scale and grow in their respective sectors. The launch of Fund II at $200 million marks a significant milestone for the venture capital firm as it continues its journey to support and nurture promising startups in India.
