We are very exited that Lightbank has joined in the financing of our portfolio company Life Crowd. Life Crowd is an LA based activity oriented networking site. It was founded by my high school classmate Bong Koh.

Lightbank is an interesting fund based in Chicago that really likes to invest in companies with local oriented businesses or go to market strategies. That’s no surprise since the Groupon guys are the ones behind it. I met Brad Keywell a few years back when we spoke on a panel at the Northwestern conference on venture capital. They have some great people at the fund and we are looking forward to working on more deals together with them.

Pando daily covered the news today here: http://pandodaily.com/2012/04/19/lifecrowd-raises-5-million-from-groupon-founders-and-others-to-grow-its-social-activity-discovery-network/