# Lightbox Ventures

Lightbox Ventures is a Venture Capital based in Mumbai, India.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Mumbai, India
- **Region:** Asia
- **Address:** Mumbai, India
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** lightbox.vc
- **LinkedIn:** https://www.linkedin.com/company/lightbox-vc

## Regulatory record

- **Reports private funds:** No

## About

Lightbox is a venture capital firm in India. The firm creates an enabling environment to fuel founder success. Over the past 20 years, the team has had the opportunity to work with stellar entrepreneurs. The team is a group of intellectually curious people with specific areas of expertise.

## Sectors

- Consumer Technology
- Enterprise Software
- FinTech
- Healthcare Services
- Education

## People

- Sandeep Murthy — Partner
- Sid Talwar — Partner

## Questions

### Who runs investment decisions at Lightbox Ventures?

Partners Sandeep Murthy and Sid Talwar lead all investment decisions at Lightbox. Murthy previously co-founded Sulekha and served as CEO of Cleartrip; Talwar was a partner at Kleiner Perkins Caufield & Byers and held earlier roles at eVentures and NBC Internet. The two are the primary decision-makers, supported by a small investment team based in Mumbai.

### What investment stages does Lightbox typically target?

Lightbox targets Seed, Seed+, and Series A rounds as initial entry points, with a strong pattern of follow-on participation through Series B, C, and later stages within its portfolio. The firm reserves substantial capital per position to support companies across their lifecycle rather than exiting at the first liquidity window.

### How does Lightbox source proprietary deal flow?

Lightbox's sourcing advantage stems from Sandeep Murthy's operator network in Indian consumer-internet companies and Sid Talwar's institutional venture relationships from his tenure at Kleiner Perkins. The firm's concentrated portfolio model and board-heavy posture also generate founder referrals within its portfolio ecosystem. Lightbox has not publicly detailed a systematic or data-driven origination engine beyond these GP networks.

### What is Lightbox's known posture on co-investments alongside external GPs?

Lightbox routinely invests alongside other institutional venture firms in syndicated rounds — Dunzo attracted capital from Google and Reliance alongside Lightbox's position, and Rebel Foods raised from Sequoia Capital and Goldman Sachs in addition to Lightbox. The firm does not operate a dedicated co-investment vehicle for LPs and has not publicly marketed co-investment rights as a distinct feature of its fund structure.

## Related profiles

- [Lightbird Ventures](https://altss.com/profile/lightbird-ventures)
- [Lightbridge Partners](https://altss.com/profile/lightbridge-partners)

---

Last updated: 2026-08-11T15:07:19.634Z

Canonical page: https://altss.com/profile/lightbox-ventures

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology