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Cornerstone Ventures Floats Second Fund With $200 Mn Corpus
Inc42
·
1y ago
Medial
Mumbai-based venture capital firm Cornerstone Ventures has launched its second fund with a target corpus of $200 million. The fund will focus on B2B tech opportunities across software platforms and marketplaces in various sectors. It aims to support early growth stage startups and provide access to a large enterprise customer ecosystem, strategic funding, and a network of mentors and go-to-market partners. Cornerstone Ventures' first fund was launched in mid-2019 with around $50 million and has been deployed across 21 portfolio companies. The funding for enterprise tech startups in India declined in 2023 compared to the previous year.
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Cornerstone Ventures floats second fund to invest in B2B enterprise-tech startups
VCCircle
·
1y ago
Medial
Indian venture capital firm Cornerstone Ventures has launched its second fund with a target corpus of $200m. The fund will focus on investing in B2B enterprise technology companies in sectors including financial services, retail and healthcare. Cornerstone's first fund, launched in 2019 with $50m, has invested in 21 firms and experienced a four-fold growth in cumulative revenue across its portfolio. The second fund aims to provide value beyond capital, including access to a large enterprise customer ecosystem and a network of mentors and go-to-market partners.
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Cornerstone Ventures marks first close of $200 mn fund
VCCircle
·
7m ago
Medial
Cornerstone Ventures, a venture capital firm focused on the SaaS sector, marked the first close of its second fund, aiming for $200 million, with $40 million in commitments from domestic investors like HNIs and family offices. Suresh Pareek of Sukvi Ventures joined as a general partner, aiding the fund’s growth. Established in 2018, Cornerstone primarily invests in B2B technology opportunities and plans to deploy the fund across various sectors, making 15-20 investments.
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Cornerstone Ventures bags $100 Mn exit from Intelligence Node
Entrackr
·
8m ago
Medial
Cornerstone Ventures, a SaaS-focused venture capital, has successfully exited Intelligence Node, a retail analytics and AI platform. The exit was achieved through a $100 million (Rs 849.5 crore) acquisition by global advertising giant Interpublic Group (IPG). The exit follows Intelligence Node’s acquisition by global advertising powerhouse Interpublic Group (IPG). This marks the second exit for Cornerstone Ventures Fund I (after Wigzo Technologies was acquired by logistics unicorn Shiprocket in 2021). With just two exits, the fund claims to have returned around 20% of the corpus raised and has several of the remaining 19 portfolio companies coming up for liquidity events in the near term. According to Cornerstone Ventures’ managing partner Abhishek Prasad, the fund expects to return around 100% of the corpus over the next 18-24 months, and overall deliver a 3.5-4X multiple through its lifetime (another 5 years to go). Founded in 2012, Intelligence Node has AI-driven solutions that empower businesses to optimize their digital shelf presence and pricing strategies. Cornerstone Ventures’ portfolio includes notable players in the Service SaaS space, such as ManageArtWorks, THB, EnParadigm, WatchYourHealth and Credit Nirvana, as well as SaaS + Marketplace models like Blubirch, Credilio, and Mystifly.
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Tech investor Cornerstone Venture floats second vehicle
VCCircle
·
1y ago
Medial
Cornerstone Venture Partners Fund, a tech-focused venture capital firm, has launched its second VC fund. The firm is known for backing software-as-a-service (SaaS) platforms such as BluBirch, THB, Credilo, Nimblebo, Dhiway, Enparadigm, and Intelligence Node. With its new fund, Cornerstone is continuing its investment thesis from its first fund.
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SenseAI floats $25 Mn maiden VC fund to back Indian AI startups
Inc42
·
1y ago
Medial
SenseAI Ventures has launched its first venture capital fund with a target corpus of INR 200 Cr ($25 Mn) to invest in Indian AI startups. The fund aims to support 18-20 AI-first startups from seed to Pre-Series A stages, with plans for follow-on investments. SenseAI Ventures already has a portfolio of 12 startups in AI SaaS, AI B2C, and AI Tools sectors. The generative AI market in India is expected to grow from $1.1 billion in 2023 to over $17 billion by 2030, creating significant opportunities for AI startups.
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Micro VC firm Warmup Ventures floats second fund with $35 mn target
VCCircle
·
8m ago
Medial
Jaipur-based micro venture capital firm, Warmup Ventures, has launched its second investment vehicle, Warmup Fund II, with a target corpus of $35.3 million. The fund will primarily invest in seed and pre-seed stage companies, with a focus on deep-tech, climate, and sustainability sectors. Warmup Ventures aims to invest in 25 to 30 early-stage startups across various sectors, providing follow-on rounds as well. The firm has already invested in more than 15 startups since its launch in 2023, including Bobabhai, Nitro Commerce, Minimizes, RocketPay, and Balwaan Krishi.
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Cornerstone Ventures launches Fund II at $200 Mn
Entrackr
·
1y ago
Medial
Venture capital firm Cornerstone Ventures 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 ticket sizes range from $5 million to $15 million in a mix of early- to growth-stage startups. As per Cornerstone, it plans to invest in 15-20 startups with the latest fund. The Mumbai-based firm plans to invest across software platforms and marketplaces operating in sectors such as financial services and insurance, retail, consumer goods and ecommerce, distribution and supply chain, and healthcare products and services. Its portfolio companies of the first fund includes Credilo, THB, Blubirch, and Dhiway. The fund claims to have facilitated $1-2 million additional annual recurring revenue for each of its portfolio companies and been an active participant in their respective growth journeys. The firm first launched Cornerstone Ventures Fund-I in 2019 with a size of about $50 million. The fund was deployed across 21 portfolio companies, primarily focused on B2B enterprise software-as-a-service business models.
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SaaS-focused Cornerstone Ventures makes third exit from first fund
VCCircle
·
5m ago
Medial
Cornerstone Ventures, a VC firm specializing in the SaaS sector, has successfully exited a four-year-old portfolio company from its first fund. This marks the third exit for the firm, signifying a promising outcome from its initial investment endeavors. Now, Cornerstone Ventures is actively seeking to raise $200 million for its second fund. This strategic move underscores the firm's commitment to backing innovative SaaS companies and expanding its investment portfolio.
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Cornerstone Ventures’ Abhishek Prasad on second fund, strategy, exits and more
VCCircle
·
1y ago
Medial
Cornerstone Ventures is launching its second investment vehicle with a target of raising $200 million. The firm's Managing Partner, Abhishek Prasad, expects to achieve the first close of the fund next month. Cornerstone Ventures was established in 2019 and primarily focuses on early-stage investments in technology startups in India. The firm aims to provide mentorship, strategic guidance, and financial support to help these startups grow and succeed.
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Cornerstone Ventures backs OfBusiness in first investment from new fund
VCCircle
·
4m ago
Medial
Cornerstone Ventures has made its first investment from a new fund in OfBusiness, a B2B raw materials procurement platform planning an IPO. OfBusiness raised Rs 100 crore ($11.7 million) in this round, funded by Cornerstone, which focuses on SaaS and enterprise tech companies. This marks the initial deployment from Cornerstone’s second fund targeting $200 million. The investment aligns with Cornerstone's strategy of supporting both early-growth and late-stage B2B enterprises.
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