Victor Pascucci III Joins Lightbank Team as Managing Partner

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CHICAGO — Venture capital firm Lightbank, founded by serial entrepreneurs Eric Lefkofsky and Brad Keywell, announces the hire of managing partner Victor Pascucci III, who will oversee the firm’s growth.

Since Lightbank’s inception in 2010, the nearly $200 million fund has invested in more than 100 startups, filled an early-stage investment gap in the Midwest and posted top-quartile returns for funds of similar vintage, according to Cambridge Associates.

Pascucci first started working with Lightbank in 2012 when he oversaw financial services company USAA’s investment in Lightbank portfolio company Snapsheet. Snapsheet helps drivers virtually file insurance claims after an accident. Pascucci served on its board until 2016.

“I’ve had the pleasure of working alongside the Lightbank team for years and have been impressed with its willingness to take risks and get in the trenches,” said Pascucci, who is moving from San Francisco to Chicago to join Lightbank. “The opportunity to help lead this fund and work with such a tremendous team committed to finding, supporting and building billion-dollar companies is amazing.”

Lightbank anticipates “taking bigger swings” and investing in more early-stage investment rounds known as Series A's, Pascucci said.

Lefkofsky and Keywell will continue in their roles as CEO of Tempus and Uptake respectively, and Bill Pescatello will continue as a partner at Lightbank. As founding partners in the fund, Lefkofsky and Keywell will advise Pascucci on investment decisions.

“In a short time, Lightbank has established itself as a preeminent fund for entrepreneurs looking to grow their early- and mid-stage technology businesses,” Lefkofsky said. “Victor’s experience and the success of both the early-stage venture and Fortune 100 companies he has worked with will prove an asset to our team and the entrepreneurs we are investing in, as Lightbank enters this next phase of growth.”

Pascucci, 47, has more than 20 years of experience in financial services and venture capital. As head of corporate development at USAA, Pascucci built and led a $330 million corporate venture fund. More recently, he served as a partner at Munich Re and managing director at Attraction Ventures, a consulting firm to venture capital firms and corporations.

This new role brings Pascucci back to Chicago, where he spent a decade working as a lawyer, including as general counsel at a fast-growing startup.

As part of Lightbank’s expansion, Rick Zullo will be promoted to principal and Eric Ong to senior associate.