Highlights
Cornerstone Ventures Unveils New Fund
Cornerstone Ventures, a venture capital firm focusing on Software as a Service (SaaS), has officially initiated the first close of its second fund, targeting $200 million, with approximately $40 million raised to date.
Leadership Expansion
The firm introduces Suresh Pareek as its new General Partner. Pareek is recognised as the founder of Sukvi Ventures and co-founder of Elephant Canvas LLP, which operates the digital fine art NFT marketplace known as NewartX.
Investor Participation
The initial closure of the fund has garnered interest from numerous domestic investors, including:
- New limited partners (LPs)
- High Net-worth Individuals (HNIs)
- Family offices
- Corporate entities
- Other institutional investors
Investment Focus
The fund will facilitate flexible ticket sizes, ranging from £5 million to £15 million. It is aimed at early to growth-stage startups within various sectors, including:
- Financial services and insurance
- Retail
- Consumer goods and e-commerce
- Distribution and supply chain
- Healthcare products and services
Track Record of Success
Since its establishment, Cornerstone Ventures has been a key partner for groundbreaking startups, providing strategic capital and expertise. The firm has successfully deployed capital from its inaugural fund, which was raised in 2018, backing notable companies such as:
- NRT
- Blubirch
- Mystifly
- Olive Gaea
- Wigzo (exited)
- Intelligence Node (exited)
- And several others