Tech Startup Fund Cornerstone Ventures Unveils $200 Million Second Fund to Boost Emerging B2B Tech Startups

• Cornerstone Ventures launches $200 million second fund to support emerging B2B tech startups, focusing on various industries.
• Fund will cater to startups in early growth stages with investments ranging from $5 million to $15 million.
• First fund deployed across 21 portfolio companies, contributing to significant growth and job creation.
• Second fund aims to back ‘Next Generation Enterprise Technologies’ with strategic investments and mentorship.
• Firm engaging with institutional investors, founders, and business leaders for Fund-II.

Cornerstone Ventures Launches $200 Million Second Fund to Support Emerging B2B Tech Startups

Cornerstone Ventures, a leading B2B enterprise technology venture capital firm, has made waves in the industry with the announcement of their second fund aimed at raising $200 million. This significant move underscores the firm’s commitment to nurturing emerging B2B tech startups and solidifying its position as a key player in the venture capital landscape.

Focus on Emerging B2B Tech Startups

The new fund launched by Cornerstone Ventures is strategically designed to support a diverse range of emerging startups operating in various industries. These industries include financial services & insurance, retail, consumer goods & e-commerce, distribution & supply chain, healthcare products & services, and sector-agnostic core technology innovations. The firm’s focus on these sectors highlights its dedication to fostering innovation and growth in key areas of the B2B tech landscape.

Abhishek Prasad, Managing Partner at Cornerstone Ventures, emphasized the firm’s commitment to backing the next generation of enterprise technologies. He expressed, “The 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 of ‘Next Generation Enterprise Technologies’, whether building in India for the world or building exclusively for the domestic market.”

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Strategic Investments and Growth Opportunities

With a specific focus on early growth stages, the new fund aims to provide startups with access to a broad enterprise customer ecosystem, strategic funding from next-round investors, and a vast network of mentors and go-to-market partners. The ticket size for investments will range from $5 million to $15 million, catering to startups poised for significant expansion and poised for rapid growth.

Cornerstone Ventures’ first fund, launched in mid-2019 with a size of approximately $50 million, has already seen remarkable success. Anchored by the Government of India’s DPIIT Fund of Funds and the Self-Reliant India Fund managed by State Bank of India, the fund has been instrumental in the growth of 21 portfolio companies, primarily focusing on B2B enterprise SaaS business models. The firm highlighted that the first fund has played a crucial role in the growth of its portfolio companies, facilitating additional $1-2 million in ARR and achieving over 4X growth in cumulative revenue base within just four years of investing.

Supporting Job Creation and Entrepreneurial Ecosystem

Moreover, the fund has not only contributed to the growth of the companies it has invested in but has also played a pivotal role in creating job opportunities. Over 1,000 direct jobs and more than 15,000 indirect jobs have been generated as a result of the investments made by Cornerstone Ventures. This highlights the firm’s commitment to not only driving financial returns but also fostering economic growth and creating employment opportunities within the entrepreneurial ecosystem.

Cornerstone Ventures is actively engaging with institutional investors for Fund-II, alongside collaborating with marquee investors, founders, and business leaders to provide mentorship and strategic guidance to entrepreneurs. This collaborative approach aims to leverage the expertise and experience of industry veterans to support the next generation of B2B tech startups and drive innovation in the sector.

The launch of Cornerstone Ventures’ $200 million second fund marks a significant milestone in the firm’s journey to support and nurture emerging B2B tech startups. With a strong focus on strategic investments, growth opportunities, job creation, and mentorship, Cornerstone Ventures is poised to make a lasting impact on the B2B tech landscape and contribute to the growth and success of the entrepreneurial ecosystem.