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April 28, 2014

Fund Alert: Sandeep Murthy-led tech VC fund Lightbox aims to raise $90-M

Lightbox, a new venture fund focused on technology investments in India, aims to raise about Rs. 540 crore ($90 million). Lightbox is being set up by a team of five, including Sandeep Murthy — the former India head of global investor Ram Shriram’s venture fund Sherpalo — and Prashanth Mehta, former CEO of digital advertising technology provider Komli Media. The fund has raised initial capital of about Rs. 150 crore from a global institutional investor. Besides Mumbai-based Murthy and Mehta, the other three partners at Lightbox are entrepreneurs Sid Talwar, Sunny Rao and Jeremy Wenokur. 

The new fund will look to raise funds from both domestic as well as international institutions. The fund will make only about eight investments from the first fund, putting in between $8-10 million in each company. Lightbox will invest in startups focused on e-commerce and mobile as well as those focused on education, healthcare and finance.

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