New Delhi: Leading venture capital firm Cornerstone Ventures on Wednesday announced a $200 million fund for emerging B2B enterprise tech opportunities across software platforms and marketplaces.
With its second fund, Mumbai-based Cornerstone Ventures said in a statement that it will invest ticket sizes ranging from $5 million to $15 million, in early-growth stage and scaled startups.
The Fund-I was launched in mid-2019 with a size of approximately $50 million.
“Our second fund builds on the success of Fund-I, and underscores our commitment to supporting emerging B2B enterprise tech opportunities. We aim to back some of the largest value creators in this space, whether building in India for the world or building exclusively for the domestic market,” said Abhishek Prasad, Managing Partner, Cornerstone Ventures.
Through this fund, Cornerstone Ventures will invest in diverse sectors, such as financial services and insurance, retail, consumer goods and e-commerce, distribution and supply chain, healthcare products and services.
Fund-I is now deployed across 21 portfolio companies, primarily focused on B2B enterprise SaaS business models, according to the VC firm.
The first fund was anchored by the government’s DPIIT ‘Fund of Funds’ (managed by SIDBI) and Self-Reliant India Fund managed by the State Bank of India (SBI).
(IANS)
