With a $200 million target size and a $50 million greenshoe option, venture capital firm Cornerstone Ventures has announced the opening of its second fund.
Fund tickets for a variety of early- to growth-stage startups range in size from $5 million to $15 million. According to Cornerstone, the most recent fund will be used to invest in 15 to 20 startups.
The firm, situated in Mumbai, intends to allocate its investments towards software platforms and marketplaces that function in various industries, including financial services and insurance, retail, consumer goods and e-commerce, distribution and supply chain, and healthcare products and services.
Credilo, THB, Blubirch, and Dhiway are among the companies in its first fund’s portfolio.
The fund asserts that it has actively participated in each of its portfolio companies’ growth journeys and helped them achieve additional recurring revenue of $1–$2 million annually.
With an initial investment of roughly $50 million, the company established Cornerstone Ventures Fund-I in 2019. With a primary focus on business models involving B2B enterprise software-as-a-service, the fund was allocated among 21 portfolio companies.
