ANNOUNCING LIGHTBANK’S $290 MILLION FUND III

We are proud to announce today the launch of our third fund, LB III. LB III is a $290 million dollar early stage fund. This fundraise brings Lightbank’s total capital raised since inception to roughly $700 million, and provides our team with fresh capital to continue supporting great companies here in Chicago, the Midwest, and beyond.

Since the firm’s founding in 2010, Lightbank has invested roughly $300 million in over 150 companies that have gone on to create over $15 billion in market capitalization as of March 31, 2024. We partner with founders at the earliest stages of their journey, almost always investing in companies before a Series A fundraise. Eight of our investments have achieved unicorn status, we have had over 35 exits, and many more companies are experiencing rapid, capital efficient growth.

Specifically in the Midwest, we have made over 70 investments and deployed over $150 million. We continue to believe that great founders can come from anywhere and overlooked geographies present compelling investment opportunities. Companies like Sprout Social, TastyTrade, Snapsheet, Benzinga, Tempus, Attain, Paytient, and Blueprint remind us of this every day.

The investing strategy for Lightbank has remained largely unchanged since our inception. We invest early, in disruptive technology companies, led by great founders, in dynamic markets, with world class products. We are excited to have a fresh pool of capital to continue investing in that thesis.