Lightbox Management, advised by the Lightbox India Advisors, has launched two funds - Lightbox Ventures I and Lightbox Ventures II - to invest in start-up companies in the consumer technology space in India.

While Lightbox Ventures I has acquired equity stakes in 6 companies - GreenDust, ZoomIn, MapmyIndia, Paymate, FutureBazaar and Kotak Urja, Lightbox Ventures II will be a USD 90 million (approximately Rs 5.40 billion) fund focused on early stage investments. Lightbox Ventures II has had a first close of USD 25 million (approximately Rs 1.50 billion) from a global institutional investor.

Lightbox Ventures II will have a concentrated investment portfolio of 8 companies in which it will invest USD 3 to 5 million in Series A funding with an investment horizon of 7-8 years.

''This is such an exciting time to be active in the consumer tech space in India. So much is changing at once - growth in per capita income, urbanization, organization of retail and technology penetration. This creates opportunities that are simply unprecedented. The missing element is scale in technology penetration, which is poised to accelerate in the coming years," said Sandeep Murthy, director of Lightbox India Advisors.

"In addition to this great market opportunity, the entrepreneurs I have met over the past few months have been able to articulate businesses that not only deliver beautiful customer experiences, but also have clear, sustainable, value propositions. This combination of a large market with engaging and differentiated customer propositions will enable the emergence of many billion dollar businesses that will not only deliver value to shareholders, but will also make India a better place. This opportunity to create value while making our society a better place is very exciting,'' added Murthy.