About Lightstone Ventures
Lightstone Ventures is a venture capital firm founded in 2012. It is primarily based out of Menlo Park, United States. As of Jul 2026, Lightstone Ventures is an active investor, having invested in 95 companies, with 1 new investment in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and HealthTech. Most recently it participated in the $***** Series B round of Crystalystx Overall, Lightstone Ventures portfolio has seen 2 unicorns, 11 IPOs and 33 acquisitions including key companies like Porter, Vivriti Capital and Vapotherm. A lot of funds co-invest with Lightstone Ventures, with names like New Enterprise Associates sharing a substantial percentage of its portfolio. Lightstone Ventures has team of 12 people including 5 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 3 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Lightstone Ventures' List of Top Investments
Lightstone Ventures has a portfolio of 95 companies, including 2 unicorns. Their most notable investments are in Nimbus Therapeutics and Psithera.Their portfolio spans across United States, India, Ireland and 4 more locations. They have invested in Life Sciences, High Tech, HealthTech and 10 other sectors, across stages such as Series A, Series B and 3 more. Here is the list of top investments by Lightstone Ventures:
1. Porter
Provider of on-demand logistics and goods transportation services. The company offers a range of transportation solutions including intra-city goods movement, packing and moving services, and enterprise logistics management. Through a digital platform, it facilitates the booking of various vehicle types for the transport of commercial and personal goods. The service supports businesses and individuals with supply chain management, distribution, and relocation needs.
Key facts about Porter
- Founded Year: 2014
- Location: Bengaluru (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2026
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $198M
- Employee Count: 2,027 as on Aug 31, 2025
- Investors: Vitruvian Partners, Magnetic and 57 Others
- Latest Funding Round: Series F, Jan 15, 2026, $*****
- Highlight: Editors' Pick
Provider of technology-enabled debt financing solutions to mid-market enterprises. It offers a broad range of business lending solutions, including term loans, working capital financing, supply chain finance, factoring, co-lending, securitization, loan against property, loan against shares, and non-convertible debentures. Leveraging digital underwriting, data-driven credit assessment, and proprietary technology platforms, it enables faster access to customized debt capital for SMEs, mid-sized enterprises, large corporates, and retail NBFCs across multiple sectors, helping businesses scale and improve access to institutional financing.
Key facts about Vivriti Capital
- Founded Year: 2017
- Location: Chennai (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $205M
- Employee Count: 704 as on Mar 31, 2025
- Investors: TVS Capital Funds, Creation Investments and 22 Others
- Latest Funding Round: Conventional Debt, Sep 30, 2024, $*****
- Highlight: Editors' Pick
3. Olyv
A personal loan and financial solutions provider. It provides users with a company that offers a range of financial services primarily focused on personal loans and savings options. It also offers tailored loans for specific needs, such as travel and laptop purchases.
Key facts about Olyv
- Founded Year: 2017
- Location: Bengaluru (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $49.5M
- Employee Count: 27 as on May 31, 2026
- Investors: Trifecta Capital, Primis Ventures and 57 Others
- Latest Funding Round: Series C, Jan 27, 2026, $*****
- Highlight: Editors' Pick
Developer of targeted therapeutics for cancer, metabolic and inflammatory diseases. The lead candidate targets ACC for Nonalcoholic Steatohepatitis (NASH). The other drug candidate is an IRAK4 inhibitor used to target Tyk2 and KRas that mediates immune signaling.
Key facts about Nimbus Therapeutics
- Founded Year: 2009
- Location: Cambridge (United States)
- Stage: Series F
- Total Funding till date: $637M
- Employee Count: 101 as on Sep 30, 2026
- Investors: Access Industries, Bain Capital Life Sciences and 20 Others
- Latest Funding Round: Series F, Sep 06, 2023, $*****
- Highlight: Editors' Pick
5. Vapotherm
Key facts about Vapotherm
- Founded Year: 1999
- Location: Exeter (United States)
- Annual Revenue: $50M - $100M as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $192M
- Employee Count: 310 as on Sep 30, 2026
- Investors: Gilde Healthcare, Questmark Capital Management and 13 Others
- Latest Funding Round: Post IPO, Feb 10, 2023, $*****
- Highlight: Public
Lightstone Ventures' Year-on-Year Investment Trends
Lightstone Ventures has invested in 95 companies over the last 13 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 9 investments, while as of Jul 2026, it has made 1 investment in this year. Its most recent first time investment was in Psithera and most recent follow-on round was in Crystalystx.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 1 | 1 |
2025 | 4 | 5 | 9 |
2024 | 2 | 2 | 4 |
2023 | 2 | 5 | 7 |
2022 | 2 | 2 | 4 |
2021 | 2 | 1 | 3 |
2020 | 8 | 4 | 12 |
2019 | 3 | 2 | 5 |
2018 | 3 | 3 | 6 |
2017 | 2 | 2 | 4 |
Lightstone Ventures' Investments by Stage
Lightstone Ventures has made 19 investments in Series A stage with an average round size of $57.7M, 13 investments in Series B stage with an average round size of $46.4M, 3 investments in Series C stage with an average round size of $80M, 2 investments in Series D stage with an average round size of $38M and 2 investments in Series E stage with an average round size of $68.5M.Stage of entry | No. of Investments |
|---|---|
Series A | 19 |
Series B | 13 |
Series C | 3 |
Series D | 2 |
Series E | 2 |
Note: We have considered here, only first round of investments
Lightstone Ventures' Investments by Sector
Lightstone Ventures has a diverse portfolio, with companies operating in the Life Sciences, HealthTech, High Tech, Consumer and Internet of Things - Industry Applications. Notably, it has invested in 81 Tech companies, 78 Enterprise (B2B) companies, 22 Tech hardware companies and at least 15 companies focusing on Software.Sector | No. of Investments |
|---|---|
Life Sciences | 33 |
HealthTech | 7 |
High Tech | 6 |
Consumer | 3 |
Internet of Things - Industry Applications | 3 |
Others | 9 |
Note: We have considered here, only first round of investments
Lightstone Ventures' Investments by Geography
Lightstone Ventures has made most investments in United States (28), followed by India where it has made 3 investments.Country | No. of Investments |
|---|---|
United States | 28 |
India | 3 |
United Kingdom | 3 |
Ireland | 2 |
France | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Lightstone Ventures' recent investments
Lightstone Ventures has made 1 investments in 2026 so far - Crystalystx.Here are the most recent investments by Lightstone Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 22, 2026 | United States | Series B | 4615 | [+19] | |
Dec 10, 2025 | United States | Series A | 3809 | [+3] | |
Sep 30, 2025 | United States | Series A | 1190 | [+10] | |
Sep 09, 2025 | United Kingdom | Series A | 8058 | ||
Aug 25, 2025 | Ireland | Series B | 8945 | [+5] |
Unicorns in Lightstone Ventures' Portfolio
Lightstone Ventures has 2 unicorns in its portfolio - Porter and Vivriti Capital. The most recent unicorn in their portfolio is Porter. It became a unicorn in 2024, 4 years after Lightstone Ventures first invested in it.Here is a list of unicorns in Lightstone Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
76 | Provider of on-demand logistics and goods transportation services | 2014 | Bengaluru | Series F | wjpecwd | ||
75 | Provider of technology-enabled debt financing solutions to mid-market enterprises | 2017 | Chennai | Series D | cfobjbb |
IPOs and Publicly Listed companies in Lightstone Ventures' Portfolio
11 of Lightstone Ventures' portfolio companies have become public. Shoulder Innovations got listed on the New York Stock Exchange (NYSE), in Jul 2025 at marketcap of $299M and Cyteir got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $620M.Here are Lightstone Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 31, 2025 | Oct 29, 2020 | Series B | 8954 | |
Jun 18, 2021 | Mar 08, 2018 | Series B | 2478 | |
Jul 17, 2020 | Feb 12, 2020 | Series C | 1763 | |
Nov 14, 2018 | - | - | 1822 | |
Jan 30, 2015 | Sep 08, 2014 | Series B | 8260 |
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Acquired companies in Lightstone Ventures' Portfolio
33 companies from Lightstone Ventures' portfolio have been acquired. The most recent acquisition was Medisix Therapeutics in Aug 2026 by IASO BIO for $*****.Here are Lightstone Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 13, 2026 | May 14, 2018 | Series A | 1320 | |
Oct 14, 2025 | Nov 15, 2013 | Series B | 3457 | |
May 21, 2025 | Aug 18, 2021 | Series B | 2499 | |
Oct 14, 2024 | - | - | 4024 | |
Sep 19, 2023 | Jun 21, 2018 | Series E | 3209 |
Team profile of Lightstone Ventures
Lightstone Ventures has a team of 12 members including 5 Partners located in United States. Lightstone Ventures' team sits on the board of 1 company.Here is a list of top team members in Lightstone Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Portola Valley | - | ||
Partner | Menlo Park | - | ||
Partner | Redwood City | - | ||
Partner | Minneapolis | - | - | |
Partner | Boston | - |
Co-investors of Lightstone Ventures
Over the past 13 years, 388 investors have co-invested in Lightstone Ventures's portfolio companies. This includes funds and angels.
- Invested before Lightstone Ventures: HHS, New Enterprise Associates and 100 others have invested in rounds before Lightstone Ventures. There are 4 companies where HHS has invested before Lightstone Ventures and 4 companies where New Enterprise Associates has invested before Lightstone Ventures.
- Top Co-investors of Lightstone Ventures: 109 investors entered a company along with Lightstone Ventures. These include investors like New Enterprise Associates (4 companies).
- Invested after Lightstone Ventures: A total of 177 investors have invested in Lightstone Ventures's portfolio after their investments. Top Investors include Wellington (3 companies), Google Ventures (3 companies) and RA Capital Management (3 companies).
Recent News related to Lightstone Ventures
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Alchemab Therapeutics Raises £25 Mn in Series A FundingStartup Rise EU•Jul 09, 2026•British Business Bank, Alchemab, SV Health Investors, RA Capital Management and 5 others
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PsiThera, Roivant spin-out, secures $47.5M for oral I&I drugsEndpoints•Dec 10, 2025•Psithera, Eurofarma, Roivant Sciences, Lightstone Ventures and 1 other
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Relievant Medsystems Closes $50 Million Series G FinancingG-MedTech•Nov 06, 2025•Vensana Capital, Ally Bridge Group, Lightstone Ventures
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Novo-Backed Crystalys Debuts With $205M to Tackle GoutBioSpace•Sep 30, 2025•Crystalystx, AN Venture Partners, Catalys Pacific, KB Investment and 9 others
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Alchemab Therapeutics starts Phase 1 trial of ATLX-1282 and announces Series A funding extensionPR Newswire•Sep 09, 2025•Alchemab, Ono Venture Investment, RA Capital Management, SV Health Investors and 3 others
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ProVerum Secures $80 Million Series B Financing to Advance New Treatment for BPHPR Newswire•Aug 25, 2025•ProVerum Medical, Orbimed, MVM, Gilde Healthcare and 4 others
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Reprieve Cardiovascular Secures $61M for Heart Failure TrialHIT Consultant•Aug 13, 2025•Reprieve Cardiovascular, Deerfield, Lightstone Ventures, Arboretum Ventures and 5 others
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Apreo Health Closes $130M in Series B Financing
FinSMEs•Aug 07, 2025•Norwest Venture Partners, Bain Capital Life Sciences, Sante, Intuitive and 3 others
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Allay Therapeutics Secures $57.5M Series D Funding Led by Lightstone Ventures and Temasek’s ClavystBioIncubees•Jun 18, 2025•Clavystbio, Allay Therapeutics, Maruishi Pharmaceutical, Lightstone Ventures
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Allay Therapeutics Announces $57.5M Series D Financing for Pain PlatformBusiness Wire•Jun 05, 2025•Allay Therapeutics, Bold Ventures, Lightstone Ventures, Clavystbio and 9 others
