Cornerstone Ventures Launches $200 mn Fund to Fuel B2B Enterprise Tech Innovation

Cornerstone Ventures, a venture capital entity, has introduced a $200 million VC fund dedicated to nurturing emerging opportunities within the B2B enterprise technology landscape, with a particular focus on software platforms and marketplaces.
VC funding for techMumbai-based Cornerstone Ventures disclosed in an official statement that the newly established fund, its second, is poised to allocate investments ranging from $5 million to $15 million towards early-growth stage and scaled startups operating within the B2B domain.

Marking a significant progression from its inaugural offer, Fund-I, launched in mid-2019 with an approximate size of $50 million, the venture aims to leverage its latest fund to bolster its support for burgeoning B2B enterprise tech prospects.

Abhishek Prasad, Managing Partner at Cornerstone Ventures, said: “Our second fund is a testament to the triumphs of Fund-I, reaffirming our steadfast dedication to fostering the growth of emerging B2B enterprise technology ventures.”

Cornerstone Ventures plans to channel funds into various sectors, including but not limited to financial services and insurance, retail, consumer goods and e-commerce, distribution and supply chain, as well as healthcare products and services.

Providing insights into the trajectory of Fund-I, the venture capital firm disclosed that the inaugural fund has been strategically deployed across 21 portfolio companies, with a primary emphasis on B2B enterprise software as a service (SaaS) business models.

It is noteworthy that the inception of the first fund was facilitated through strategic anchorings by the government’s Department for Promotion of Industry and Internal Trade (DPIIT) ‘Fund of Funds,’ managed by the Small Industries Development Bank of India (SIDBI), alongside the participation of the Self-Reliant India Fund managed by the State Bank of India (SBI).

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