New Delhi, Jan. 16 -- Cornerstone Ventures, a venture capital firm specialising in SaaS (software as a services) startups, announced the first close of its USD 200 million second fund at USD 40 million.

The initial closure includes commitments from domestic limited partners, including family offices, high net-worth individuals, and corporate entities.

The venture firm plans to deploy investments ranging from USD 5 million to USD 15 million across 15-20 deals, targeting multiple sectors including financial services and insurance, retail, consumer goods and ecommerce, distribution and supply chain, and healthcare products and services.

Alongside this announcement, the firm welcomed Suresh Pareek, founder of pharmaceutical company Ideal C...