Chicago-based Fund, Lightbank, to Invest Up To $100 Million in Technology Start-Ups
CHICAGO--(BUSINESS WIRE)--Eric Lefkofsky and Brad Keywell, two of Chicago's leading technology entrepreneurs, plan to invest as much as $10 million annually in early-stage technology companies through a new fund called Lightbank (www.lightbank.com). The entrepreneurs behind Groupon, MediaBank, InnerWorkings (NASDAQ:INWK) and Echo Global Logistics (NASDAQ:ECHO) have already raised over $150 million and generated more than $1.5 billion in investor returns through their existing ventures.
“So far we've only scratched the surface of industries that follow antiquated business processes, where technology can be leveraged to realize cost-savings and create value” With the launch of Lightbank, Lefkofsky and Keywell will contribute their resources and expertise to foster a vibrant, active community of Midwest technology entrepreneurs who are short on capital, but flush with innovative ideas.
“Chicago is full of untapped entrepreneurial talent that just needs a little support,” said Lefkofsky. “Lightbank will be a driving force behind break-through ideas and help establish this city as a technology hub.”
In addition to investing capital, Lightbank will take an active role in guiding and nurturing companies through all stages of growth, from effectively scaling technology and finding the optimal business model to securing further growth investment and ultimately exiting the business.
Lefkofsky and Keywell, who met at the University of Michigan, have a history of starting new ventures that have shaken up industries with long-standing business models.
Posts
No comments:
Post a Comment