Investment Boost for Series A,B Startups - Cornerstone unveils its Second Fund
Cornerstone ventures, an investment firm focused on B2B venture innovation, has divulged the launch of its second fund. With an objective size of $200 million, including a green-shoe option, this asset means to fuel the development of promising start-ups in the Series A and Series B stages.
Sharing his insights, Abhishek Prasad, Managing Partner at Cornerstone Ventures, says, “We are looking to do about 15-20 transactions from the second fund,” he stated. “The cheque size would be between $5 million and $15 million. We would like to participate in Series A, Series B start-ups. We are targeting the first close of the fund by June.”
This declaration follows the effective sending of Cornerstone ventures’ first fund launch in mid-2019 with an investment size of $50 million.
In a different improvement in the start-up environment, security and compliance start-up Sprinto has gotten $20 million in a Series B round drove by Accel, with support from existing financial backers Elevation Capital and Blume ventures.
Counting this round, Sprinto has raised $31.8 million to date. The organization intends to distribute the new funds towards research and development, zeroing in on automation and Artificial intelligence, and venturing into new business sectors.
Girish Redekar, Co-Founder of Sprinto, underscored that the organization as of now works in more than 75 nations and plans to grow its presence in North America. Besides, seasoned financial backers Ruchira Shukla and Karthik Chandrasekar have launched Synopses, a funding firm concentrated in putting resources into new businesses in the climate and health tech space.
Highlighting the Synapses’ that focuses on supporting STEM innovations in climate tech and health tech, Aishwarya Anand & Shukla says, “We aim to raise about $125 million from global investors,” she explained. “We want to support STEM innovations in India with the potential to be global winners by deeply engaging with innovative ecosystems across the world”.
