Cornerstone Ventures, a risk capital firm (VC) announced its first RS investment. 100 million rupees of its new fund in the business, a B2B trade platform that helps small and medium enterprises. The investment comes from its new fund to which it is aimed at raising $ 200 million.
Abhishek Prasad, managing partner of Cornerstone Ventures, “This fund has a hybrid strategy to support early growth companies (around 70 percent of corpus) and B2B companies B2B climbing in late stage (about 30 percent of the corpus’s Thrpus. Scale, consolidation and possible output or IPO.
Ofbusiness is a financing platform of the supply and trade chain that sacrifices access to raw materials, suppliers, transparent prices and financial solutions to small and medium enterprises (SME). They also use AI for optimized acquisitions and risk management, while their fine, oxyzo arm provides data units, non -collateral loans that meet the needs of SMEs.
Founded in 2015 by Asish Mohapatra, Ruchi Kalra and Bhuvan Gupta, they have a network or more than 45,000 suppliers and 1.3 million SMEs, with an approach in key sectors such as steel, chemical and textile products. According to Tracxn, they have a current valuation of $ 2.84 billion. They saw a 25.7 percent increase in operational income in fiscal year 24 to ₹ 19,296.27 million rupees. Its net consolidated benefit also increased by 30 percent to ₹ 602.97 million rupees of ₹ 463.25 million rupees.
Cornerstone Ventures announced the first closure of its second fund at $ 40 million in January of this year. He saw the participation of national investors, including new limited partners (LP) in high -level network individuals (HNIS), family offices, companies and other institutions.
The company had launched its first fund in 2018 that supported 21 companies, including Watch Your Health, Nitro and Dopplr.
(With internal bloc tickets Nethra Sailes)
Posted on April 16, 2025
