TLDR:
- Cornerstone Ventures launches its second fund with a target size of $200 million, offering flexible ticket sizes.
- The fund plans to invest in 15-20 startups across various sectors, focusing on B2B enterprise technology.
Cornerstone Ventures, a venture capital firm specializing in B2B enterprise technology investments, 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, with a 12-year lifecycle, will offer flexible ticket sizes ranging from $5 million to $15 million in a mix of early- to growth-stage startups. The firm plans to invest in 15-20 startups with the latest fund, focusing on software platforms and marketplaces operating in sectors such as financial services, insurance, retail, consumer goods, ecommerce, distribution and supply chain, and healthcare products and services.
Cornerstone Ventures aims to invest in businesses that catalyze core business processes, engage multiple stakeholders, and demonstrate account-level profitability. The firm’s first fund, launched in 2019 with a size of about $50 million, was deployed across 21 portfolio companies, primarily focused on B2B enterprise software-as-a-service business models. The portfolio companies of the first fund included platforms like Credilo, THB, Blubirch, and Dhiway.
The first fund retrieved over 4X growth in the cumulative revenue base across the portfolio in about four years of investing. It was anchored by the Department for Promotion of Industry and Internal Trade’s Fund of Funds and the Self-Reliant India Fund. The fund’s founders, former Reliance Industry corporate venture executives, aim to onboard large institutional investors in Fund-II as well. Overall, Cornerstone Ventures is making significant strides in the venture capital space, focusing on B2B enterprise technology investments.
