India, March 12 -- Venture capital (VC) firm Cornerstone Ventures said it has exited AI-powered debt collection startup CreditNirvana, marking its third exit.

In a statement, the VC firm said that it invested $2 Mn (about INR 17.44 Cr) in CreditNirvana and generated more than 55% in internal rate of return (IRR).

IRR is an instrument that VC firms use to measure the profitability of their investment and as a performance metric to compare different investments.

The announcement comes a day after fintech SaaS unicorn Perfios acquired CrediNirvana.

Commenting on the exit, Cornerstone Ventures partner Vatsal Bavishi said, "It marks our third exit via acquisition, and we are proud to have supported AI/ML-driven innovations like CreditNirva...