The first fund has a portfolio comprising GreenDust, ZoomIn, MapmyIndia, Paymate, FutureBazaar and Kotak Urja
Lightbox Management Ltd, a new VC firm floated by former Sherpalo Ventures’ India head Sandeep Murthy, has closed its second fund at $100 million (about Rs 610 crore) from overseas institutional investors, according to a VCCircle report, citing a company executive as per separate media reports.
It had announced its first close at $25 million in April this year.
Lightbox was started with two funds, one of which has stakes in some half a dozen firms as a result of a spinout or synthetic secondary transaction involving existing investments of Sherpalo and KPCB in India. The first fund has a portfolio comprising GreenDust, ZoomIn, MapmyIndia, Paymate, FutureBazaar and Kotak Urja.
Other partners of Lightbox include Siddharth Talwar, an angel investor who founded and later sold Evolv to NIIT; and Prashant Mehta, former CEO of Komli Media. The fund’s US partners include Sunny Rao, currently CEO of ZoomIn who earlier co-founded Half.com, which was acquired by eBay for $350 million; and Jeremy Wenokur, an angel investor who spent the past 17 years in the consumer technology space in the US and was Google’s first corporate development person.
Business Opportunities
Popular Cities