What is the meaning of cornerstone investor?

A cornerstone investor is a key investor who commits to purchasing a significant portion of shares in an initial public offering (IPO) or other investment opportunity, often before it is opened to the broader market. Their participation is intended to provide stability and credibility to the offering, attracting additional investors by signaling confidence in the company's prospects. Cornerstone investors typically have a longer-term investment horizon and may be institutional investors or large individuals.