Thu, 31/01/2013 - 11:49
Lightbank, a venture capital firm founded by entrepreneurs Brad Keywell and Eric Lefkofsky, has opened an office in the Flatiron District of New York.
Lightbank's New York presence will enable the firm to better serve and grow its portfolio in New York and the East Coast, where it will join a community full of promising tech start-ups.
"New York is an active and diverse tech hub that has produced many remarkable companies, and we look forward to collaborating with great entrepreneurs as they grow their businesses," says Keywell. "The New York tech community has deep roots in spaces like ecommerce and media that align with our expertise. By being on the ground, we strengthen our ability to help emerging tech start-ups develop and scale their businesses."
Lightbank plans to grow the number of investments into companies based in New York and the East Coast region in the coming years, reflective of the increasing amount of venture capital flowing into the region's start-ups. The firm will continue to focus on early-stage tech companies, with areas of particular interest including ecommerce, media and health.
Since 2010, Lightbank has invested in more than 50 early-stage tech start-ups across the country, with nearly 20 per cent of its portfolio located on the East Coast, including Frank & Oak, Contently, Centzy, Bevel, Ovuline and OnSwipe. Additionally, Lightbank's Keywell and Lefkofsky have co-founded New York-based MediaOcean and InnerWorkings, both of which have a strong presence in New York.
Lightbank principal Vicki Levine will head up activities at the firm's New York office, with active participation from the firm's partners.
"The New York technology community surrounds its entrepreneurs with resources beyond just capital," says Keywell. "There is the government's support, collaboration from large organisations, many world-class conferences and events, hackathons, as well as an increasing number of co-working spaces and accelerators, which all work together to create an ecosystem that we are excited to join."
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