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2014-10-15

Lightbox raises $100 million in new tech-focused VC fund

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.

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