Cornerstone Ventures eyes $250 million third fund
In short
Cornerstone Ventures is aiming to raise a third fund of $250 million. It is also looking at the greenshoe option on its second fund, which has a $250 million upper limit.
This matters because it could add more capital for the firm to invest. The reporting does not say when the fund will be raised or whether the greenshoe option has been exercised.
What the reporting says
Cornerstone Ventures is looking to raise a third fund worth $250 million, according to the reported headline and summary. The source also says the firm is considering exercising the greenshoe option on its second fund, whose upper limit is $250 million. The reporting does not say when the third fund will close, who the investors are, or whether the greenshoe has been used yet.
Why it matters
Cornerstone Ventures is seeking a third fund of $250 million, and the reporting says it is also looking to exercise the greenshoe option on its second fund with a $250 million upper limit. This points to continued fundraising and potential expansion of the venture capital firm’s investing capacity. The source does not state timing, investor details, or whether the greenshoe has already been activated.