Project News Detail
| Project No : | 205045 |
|---|---|
| Project Title : | Cornerstone Ventures makes ?100 crore investment in of Buisness in India. |
| Company Name : | Private Company |
| Project Detail : | Business is a commerce and supply chain financing platform that offers access to raw materials, suppliers, transparent pricing and financing solutions to small and medium-sized enterprises (SMEs). Cornerstone Ventures, a venture capital (VC) firm announced its first investment of Rs. 100 crore from its new fund in OfBusiness, a B2B commerce platform that helps small and medium enterprises. The investment comes from its new fund which targets to raise $200 million. Abhishek Prasad, Managing Partner at Cornerstone Ventures, said, “This fund has a hybrid strategy to back both early-growth companies (about 70 per cent of the corpus) and late-stage scaled B2B businesses (about 30 per cent of the corpus). Our goal is to serve as an end-game partner through scale-up, consolidation, and eventual exit or IPO. OfBusiness is our first investment in the late-stage strategy and one of the opportunities we have been excited about for a while now. Delighted to become a part of its journey as the leading commerce and supply chain platform for Indian SMEs across sectors. Of Business is a commerce and supply chain financing platform that offers access to raw materials, suppliers, transparent pricing and financing solutions to small and medium-sized enterprises (SMEs). They also use AI for optimized procurement and risk management, while its financing arm, Oxyzo, provides data-driven, non-collateral loans catering to SME needs. |
| Project Location : | Multi Location (Multi State) - Multi State - India |
| Project Estimation : | Refer Document |
| Status : | Announced |