LightBay Capital
Private equityLos Angeles · Growth · 33 people tracked
Investment thesis
LightBay Capital pursues middle market investments using a flexible capital strategy, positioning itself as a patient, long-term investor. The firm collaborates closely with the management teams of its portfolio companies to accelerate and increase investment in growth initiatives, aiming to maximize value over an extended horizon.
Source: firm website, verified Aug 6, 2026.
Team · 33 people
from the firm's website
Investments · 14 tracked
founders shown can be your intro pathFund performance · per public LP disclosures · 3
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| LightBay Investment Partners II LPLPs: Florida State Board of Administration, Texas Municipal Retirement System, New York City Employees' Retirement System +3 more | 2022 | — | -6.0% | 0.94x | 0.00x |
| LightBay Investment Partners Il LPLPs: Florida State Board of Administration | 2022 | — | — | 0.80x | 0.00x |
| LightBay Investment Partners LPLPs: Florida State Board of Administration, Texas Municipal Retirement System | 2018 | — | 13.6% | 1.78x | 1.06x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does LightBay Capital invest at?
- LightBay Capital invests at the Growth stage.
- What is LightBay Capital's typical check size?
- LightBay Capital typically writes checks of $100M – $300M.
- Where is LightBay Capital located?
- LightBay Capital is headquartered in Los Angeles, US.
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