India, March 29 -- Mumbai-based VC firm Cornerstone Ventures is planning to mark the final close of its $200 Mn (around INR 1,700 Cr) second fund by December this year.

The VC firm launched the second fund last year and marked its first close at $40 Mn (around INR 342 Cr) in January this year.

Abhishek Prasad, managing partner of Cornerstone Ventures, told Inc42 that the firm has raised

$20 Mn to $30 Mn from domestic institutions and family offices after announcing the first close of the fund.

"Hopefully we will close another $10 Mn to $15 Mn in April," he said.

The VC firm has already made its first investment from the second fund. "We have made our first investment in a late stage startup as part of a pre-IPO round," Prasad added. ...