Our Story

Lightbox is a Mumbai based venture capital firm focused on early-growth investments in technology-led businesses that are shaping the future of consumption in India. We manage approximately $400 million and have built a portfolio of differentiated businesses with a cumulative value of $3 billion. Our strategy is to take concentrated bets on business models that are designed to capitalise on the unique opportunities India presents as a market. India is tipped to become a $10 trillion GDP economy by 2034 and domestic consumption is expected to be powered by a 5X growth in middle class consumption. We are already seeing traditional industries being redefined by technology and new industries being created around new consumption models. There are substantial opportunities for product-led and technology enabled differentiation in the consumer market and Lightbox has a stellar track record building market leading companies. The team at Lightbox, led by Sandeep Murthy, has been investing in venture capital in India since 2005. As a team, we engage deeply with a few handpicked entrepreneurs who we believe are building unique solutions to organise India’s large, unorganised consumption markets. Our sizable ownership in each of these businesses coupled with the compelling macroeconomic factors at play in India position us to drive significant value accretion across our investments.