CHICAGO–(BUSINESS WIRE)–Feb 23, 2021–
Lightbank, LLC (“Lightbank”), a Chicago-based venture capital firm, today announced that it closed its second early-stage venture capital fund, Lightbank II, L.P. (“Lightbank II”), with $180 million of capital commitments. The closing brings Lightbank’s total assets under management (AUM) to $360 million. Lightbank II’s investor base is comprised of institutional investors, family offices, and high net worth individuals.
Lightbank II will be led by Founder and Managing Partner Eric Lefkofsky, who has also founded or co-founded Tempus, Groupon, MediaOcean, Innerworkings, and Echo Global Logistics. In conjunction with the new fund, Matt Sacks will join Lightbank as a Venture Partner. Sacks, who founded Luminary Media after serving as a Principal at New Enterprise Associates (NEA), will continue in his role at Luminary as Founder and Executive Chairman.
"When we began investing in technology entrepreneurs in the Midwest, people thought we were crazy and that you could only make money by investing in tech companies in Silicon Valley" said Eric Lefkofsky, Managing Partner, Lightbank. “Over the past ten years, we have backed world class companies and generated commensurate returns, a testament to the incredible talent and innovative spirit of the very entrepreneurs who others often overlook. We are thrilled to be ‘doubling down’ with Lightbank II and also thrilled to have Matt joining our team.”
The new fund will be invested across a broad range of sectors, including internet, software, climate tech, and consumer brands. Consistent with the firm’s historic strategy, Lightbank II will invest across geographies and stages. Based in Chicago, Lightbank aims to capitalize on the accelerating trend of an ever-increasing number of truly disruptive technology companies founded in between the coasts. The majority of capital will be concentrated in Pre-Seed, Seed, and Series A opportunities with select growth-stage investments.
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CONTACT: Mike Mauceri
Phone: 312-765-7820
Email:[email protected]
KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Lightbank, LLC
Copyright Business Wire 2021.
PUB: 02/23/2021 01:18 PM/DISC: 02/23/2021 01:18 PM
http://www.businesswire.com/news/home/20210223005943/en
