Bengaluru, Oct. 16 -- Venture capital firm Cornerstone Ventures is targeting the second half of 2027 to launch its third fund, potentially raising up to $250 million as it looks to increase investments in deeptech and artificial intelligence (AI).

The Mumbai-based company is also looking to exercise the greenshoe option on its second fund, Abhishek Prasad, managing partner at Cornerstone told Mint in an interview.

"We are going to wait out for some of these results from fund two. Because fund two will most likely wrap up by the end of this year or a few months into next year," said Prasad.

The plan to raise a larger fund shows how venture capital firms in India are eyeing larger investment vehicles that can write bigger cheques for por...