LIGHTBAY CAPITAL
LIGHTBAY CAPITAL is a Series C+, buyout, secondary, debt and other fund in the US and Canada writing $100M–$300M checks into Healthcare, business-services, consumer-services, tech-enabled-services, outsourced-business-to-business-services and healthcare-it.
- Stages
- Series C+, buyout, secondary, debt, other
- Sectors
- Healthcare, business-services, consumer-services, tech-enabled-services, outsourced-business-to-business-services, healthcare-it
- Check size
- $100M–$300M
- Invests in
- US-wide, Canada
- Actively investing
- Yes
- Founded
- 2016
- Assets under management
- $1.93B
Thesis
LightBay Capital is a Los Angeles-based private equity firm founded in 2016, focusing on middle-market investing with a flexible capital approach. They partner with management teams of market leaders and innovative disruptors, emphasizing companies with strong employee engagement, high returns on invested capital, and significant growth potential. Their strategy involves unlocking transformational growth through accelerated investments in initiatives, people, processes, and systems. The firm's primary sector focus includes healthcare, business services, and consumer sectors, with a specialization in tech-enabled services, outsourced B2B services, healthcare services, HCIT, and consumer services. LightBay invests across the capital structure in all market environments using an 'all-weather' strategy, open to LBOs, shared-control, special situations, and structured investments. Typical equity investments range from $100 million to $300 million, with flexibility to scale. They primarily invest in the United States and Canada. The firm has closed two funds, raising $615 million for its first fund in 2018 and $1.04 billion for its second fund in 2023. As of May 2026, they manage approximately $1.93 billion in AUM and have a portfolio of 11 companies.
Common questions
Does LIGHTBAY CAPITAL invest at the Series C+ stage?
Yes. LIGHTBAY CAPITAL lists Series C+, buyout, secondary, debt and other among the stages it invests in.
What check size does LIGHTBAY CAPITAL write?
LIGHTBAY CAPITAL writes $100M–$300M checks.
Where does LIGHTBAY CAPITAL invest?
LIGHTBAY CAPITAL invests in the US and Canada.