Cornerstone Ventures

Overview

Cornerstone Ventures is a venture capital firm specializing in enterprise SaaS startups, primarily focusing on business-to-business (B2B) technology across various industries. Established in 2018 and headquartered in Mumbai, India, Cornerstone Ventures was founded by Abhishek Prasad and Rajiv Vaishnav, former executives of Reliance Industries' corporate venture arm. As of early 2025, it has raised significant capital, including a second fund targeting $200 million, aimed at fueling innovative technology enterprises.

Recent Developments

January 15, 2025: Cornerstone Ventures announced the first close of its second fund at $40 million, aiming towards a total of $200 million. The firm welcomed Suresh Pareek as a General Partner, enhancing its leadership team’s expertise in SaaS and B2B investments (source).
December 23, 2024: The venture capital firm successfully exited its investment in Intelligence Node through a $100 million acquisition by a global advertising conglomerate, Interpublic Group (IPG), returning a substantial portion of its fund corpus to investors (source).
November 2024: The firm revealed plans to allocate its newly launched second fund to 15-20 startups, focusing on early-stage and Series A and B startups across multiple sectors, including SaaS, AI, and Web 3.0 technologies (source).
August 2024: Cornerstone Ventures led a $750,000 funding round for Dopplr, a provider of virtual try-on solutions for apparel brands, marking its commitment to innovative tech solutions in retail (source).

Attribute	Information
Founding Date	2018
Headquarters	Mumbai, Maharashtra, India
Founders	Abhishek Prasad, Rajiv Vaishnav
Industry	Venture Capital, Private Equity
Number of Employees	11-50
Key Investors	High-Net-Worth Individuals (HNIs), Family Offices, Corporates

Early History

Founded in 2018, Cornerstone Ventures began its operations with a focus on enterprise technology innovation. Initially, the firm targeted B2B SaaS companies, providing both capital and strategic guidance to foster growth. The founders, Abhishek Prasad and Rajiv Vaishnav, leveraged their extensive experience from Reliance Industries to build a strong investment portfolio, emphasizing the deployment of strategic capital into promising tech startups. The first fund, sized at $50 million, backed 21 companies, experiencing early success with notable exits.

Company Profile and Achievements

Cornerstone Ventures positions itself as a leading venture capital firm in India’s enterprise SaaS sector. Its first fund, launched in 2018, successfully backed multiple innovative companies, gaining recognition for strategic exits such as with Wigzo Technologies and Intelligence Node. The firm is renowned for its:

Strategic focus on B2B Tech and SaaS startups.
Investment in early to growth-stage companies across sectors like fintech, healthcare, and e-commerce.
Robust network-driven approach, partnering with both domestic and international investors.
Leadership in embracing emerging technologies such as AI and quantum computing.

Current Operations and Market Position

Cornerstone Ventures continues to thrive by supporting transformative technology ventures. Its strategic position in the VC market involves leveraging its robust network to make approximately 15-20 new investments with its second fund, focusing on sectors such as financial services, retail, and consumer tech. The firm's competitive advantages include its deep industry expertise, a strong advisory network, and a successful track record of exits.

Conclusion

Cornerstone Ventures has carved a significant niche in the Indian venture capital industry by focusing on enterprise SaaS and B2B technology. As it scales with its second fund, the firm is well-positioned to influence the growth trajectory of tech startups, fostering innovation and strategic value creation. With a focus on emerging technologies and a strong leadership team, Cornerstone Ventures is likely to continue shaping the future of enterprise innovation in India and beyond.