DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Lightbank
Lightbank
venture manager, reported GAV $415M across 6 vehicles
Importance
35
elevated
Active deployment
30
moderate
Emerging
0
low
Completeness
63
high
Freshness
100
high
Research priority
14
low
Identity and regulatory footprint
- Headquarters
- Chicago, ILadviserinfo.sec.gov
- Office address
- 600 W. CHICAGO AVE., SUITE 510, Chicago, IL, 60654adviserinfo.sec.gov
- Business phone
- 312-765-7820adviserinfo.sec.gov
- Website
- https://www.lightbank.com
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 8 (8 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $839Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- info@lightbank.comlightbank.compublished by the subject
- business phone
- 312-276-3204adviserinfo.sec.govpublished by the subject
- business phone
- 312-765-7820adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
8 observed deals
Stated (the firm’s website)
- Sectors
- not stated or not yet read
- Stages
- not stated or not yet read
- Geography
- chicago
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation
series b 40%pre seed 20%series a 20%series c 20%
Stage at first entry
series b 40%pre seed 20%series a 20%series c 20%
Sectors
unknown 88%Other Technology 13%
lead rate 43%follow-on rate 0%new logos, 12 months 8
Funds and vehicles
6 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Lightbank Investments, LLC | Fund | 2015 adv first reported | Harvest | $189M Mar 22, 2019 | 2 | unknown | unknown |
| Lightbank Investments 1b, LLC | Fund | 2015 adv first reported | Harvest | $7.8M Mar 22, 2019 | 2 | unknown | unknown |
| Innovation Group Investors, L.P. (2011 Series) | Fund | 2011 name year | Harvest | $179M Mar 22, 2019 | 4 | unknown | unknown |
| Innovation Group Investors, L.P. (2010 Series) | Fund | 2010 name year | Harvest | $19.5M Mar 22, 2019 | 22 | unknown | unknown |
| Innovation Group Investors, L.P. (2010-A Series) | Feeder or parallel | 2010 name year | Harvest | $11.4M Mar 22, 2019 | 1 | unknown | unknown |
| Innovation Group Investors, L.P. (series 1b) | Fund | unknown | Unknown | $7.8M Mar 22, 2019 | 18 | unknown | unknown |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
2 current, 1 departed
Eric P. Lefkofsky
Managing partnerManaging Member · since Mar 1, 2010
Lauren von Reyn
OtherInterested in working with us or one of our portfolio companies?
INFO@LIGHTBANK.COM (published by the subject)FactVenture organization websites (about, team, portfolio, thesis, news pages)
1 departed (kept with end dates)
- Nick Whang · Interested in working with us or one of our portfolio companies? · ? to Sep 16, 2026 Inference
Investments on record
8 edges, 8 companies, 0 partner-attributed
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
36 relationships from shared deals, counted for the whole firm
Lakehouse Ventures, LLC 2 shared · recurring · they led 1 · we led 2Industry Ventures, L.L.C. 1 shared · one time · we led 1Venrex Investment Management LLP 1 shared · one time · we led 1Tenoneten 1 shared · one time · we led 1American Family Ventures 1 shared · one timeBoxgroup Ventures LLC 1 shared · one timeCommerce Ventures Management, LLC 1 shared · one timeMUFG 1 shared · one timeLerer Hippeau 1 shared · one timeIndex Ventures Sa 1 shared · one timeQED 1 shared · one timeOperator Partners 1 shared · one timeHyde Park Angels, Inc. 1 shared · one timeIA Capital Group, Inc. 1 shared · one timeAvenir Growth Capital 1 shared · one timeVintage Investment Partners 1 shared · one timeNewview Capital Management, LLC 1 shared · one time · they led 1Primary Ventures 1 shared · one timeCamber Creek 1 shared · one timeScale Venture Partners 1 shared · one timeInsight Venture Partners 1 shared · one timeStory Ventures 1 shared · one timeStarfire Ventures 1 shared · one time · we led 1Health Velocity Capital 1 shared · one time · they led 1 · we led 1TMV 1 shared · one time · we led 1Switch Venture Management, LLC 1 shared · one time · we led 1Greymatter Capital 1 shared · one time · we led 1Stage 2 Capital Advisors 1 shared · one timeNorthwestern Mutual Future Ventures 1 shared · one timeBattery Management Corp. 1 shared · one time · they led 1Y Combinator 1 shared · one timeGoodwater Capital 1 shared · one time · we led 1Champion Hill Ventures 1 shared · one time · we led 1Houghton Street Ventures 1 shared · one timeSeedcamp Investment Management LLP 1 shared · one timeBertelsmann Healthcare Investments 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
8 dated events
- Sep 16, 2026Nick Whang (Interested in working with us or one of our portfolio companies?) no longer on the team page of LightbankPerson leftPeopleInferenceNick WhangVenture organization websites (about, team, portfolio, thesis, news pages)
- Mar 16, 2015Lightbank Investments 1b, LLC first reported on Form ADV by Lightbank (Venture Capital Fund), GAV $6,500,000Fund first reported on Form ADVFundsFactLightbank Investments 1b, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 16, 2015Lightbank Investments, LLC first reported on Form ADV by Lightbank (Venture Capital Fund), GAV $109,000,000Fund first reported on Form ADVFundsFactLightbank Investments, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2012Innovation Group Investors, L.P. (2011 Series) first reported on Form ADV by Lightbank (Venture Capital Fund), GAV $3,500,000Fund first reported on Form ADVFundsFactInnovation Group Investors, L.P. (2011 Series)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2012Lightbank first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2012Innovation Group Investors, L.P. (series 1b) first reported on Form ADV by Lightbank (Venture Capital Fund), GAV $1,000,000Fund first reported on Form ADVFundsFactInnovation Group Investors, L.P. (series 1b)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2012Innovation Group Investors, L.P. (2010 Series) first reported on Form ADV by Lightbank (Venture Capital Fund), GAV $20,000,000Fund first reported on Form ADVFundsFactInnovation Group Investors, L.P. (2010 Series)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2012Innovation Group Investors, L.P. (2010-A Series) first reported on Form ADV by Lightbank (Venture Capital Fund), GAV $32,000,000Fund first reported on Form ADVFundsFactInnovation Group Investors, L.P. (2010-A Series)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $415M across 6 vehicles
Evidence
60 observations from 3 sources