TLDR:
– Cornerstone Venture Partners, a venture capital firm, is expanding its investment horizon to focus on enterprise SaaS ventures and the logistics sector.
– The firm is raising a new $200 million fund and aims to invest in B2B tech startups, particularly those specializing in vertical SaaS and marketplace solutions.
Cornerstone Venture Partners, founded by former Reliance executives Rajiv Vaishnav and Abhishek Prasad, is shifting its focus to enterprise SaaS ventures and the logistics sector. The firm is currently raising a $200 million fund to invest in B2B tech startups. They have already invested in 21 SaaS startups from their first fund, with an average investment value of $2-3 million per startup. The firm has seen growth in revenue of their startup portfolio by 4.5X. With their new fund, they plan to invest in late-stage funding rounds, with investments ranging from $5-7 million and a focus on Series A and B stages. They believe that the Indian SaaS market has the potential to reach $35 billion in ARR in the next five years and are optimistic about generative AI creating new business opportunities. Cornerstone Ventures also aims to maintain a portfolio size of 15-20 companies, focusing on Series A and B deals and late-stage investments.
