Cornerstone Ventures Secures First Close of USD 200 Mn Fund-II at USD 40 Mn, Welcomes Suresh Pareek as General Partner The second fund will target a range of sectors, including financial services, retail, e-commerce, healthcare, and supply chain, while also focusing on sector-agnostic core technology innovations.

Cornerstone Ventures, a leading SaaS-focused venture capital firm, announced that it has achieved the first close of its second fund at approximately USD 40 million, marking a significant milestone towards its target of USD 200 million.

The close reflects growing investor confidence in Cornerstone's ability to back transformative B2B technology ventures. Alongside the milestone, the firm is excited to welcome Suresh Pareek as its General Partner, further strengthening its leadership team.

The first close has garnered substantial participation from a diverse group of domestic investors, including high-net-worth individuals (HNIs), family offices, corporates, and other institutional partners.

Abhishek Prasad, Managing Partner at Cornerstone Ventures, said, "We are thrilled to have Pareek join the team. His addition has played a crucial role in accelerating our first close, thanks to the strong network he brings. With his expertise and the expanded investor base, we are even better positioned to help our portfolio companies scale and make a meaningful impact across industries."

Suresh Pareek brings a wealth of experience in venture capital and private equity investments. As the founder of Sukvi Ventures and co-founder of Elephant Canvas LLP, a digital fine art NFT marketplace operating under the NewartX brand, Pareek has curated a diverse portfolio of 12 startups. His track record includes channeling personal wealth into private equity funds and direct startup investments, showcasing his commitment to fostering innovation and growth.

Suresh Pareek, General Partner at Cornerstone Ventures, stated, "I'm thrilled to join Cornerstone Ventures at a time when India is positioned to redefine its role in the global startup ecosystem. My focus has always been on supporting startups that aim to drive both growth and meaningful impact. I look forward to working with a dynamic team to empower founders who are transforming industries and addressing real-world challenges."

Since its inception, Cornerstone Ventures has been a key partner for innovative startups, deploying strategic capital and providing operational expertise. The firm's first fund, raised in 2018, successfully backed companies such as NRT, Blubirch, Mystifly, and Olive Gaea, with notable exits including Wigzo and Intelligence Node.

The second fund will target a range of sectors, including financial services, retail, e-commerce, healthcare, and supply chain, while also focusing on sector-agnostic core technology innovations. With an emphasis on early growth-stage companies, the fund aims to help ventures scale sustainably and capitalise on emerging opportunities in the rapidly evolving tech landscape. Deployments from Fund-II are expected to begin this quarter.