Lightbank, LLC, a Chicago, IL-based venture capital firm, closed its second early-stage venture capital fund, Lightbank II, L.P.. with $180m of capital commitments.
Lightbank II’s investor base is comprised of institutional investors, family offices, and high net worth individuals. The closing brings Lightbank’s total assets under management (AUM) to $360m.
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. The majority of capital will be concentrated in Pre-Seed, Seed, and Series A opportunities with select growth-stage investments.
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 addition, Matt Sacks, who founded Luminary Media after serving as a Principal at New Enterprise Associates (NEA), joined as Venture Partner. He will continue in his role at Luminary as Founder and Executive Chairman.