# Lightstone Ventures: portfolio, investments and team

> Lightstone Ventures is a vc firm based in United States. 22 investments on record, latest Aug 2025. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/lightstone-ventures (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Lightstone Ventures

Last cheque observed Aug 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Email

Quiet New fund $375M, Sept 2021 VC firm

Seed Series A Series B Lifescience Psychedelics Ivd

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 22 on record

Since the last cheque **433** days **00** hrs **00** min **00** sec

Median round **$61M** Cheque size, as they say **$100K – $5.0M** Rounds led **1 of 22** Mostly in **United States, 86%**

Pitch Lightstone Ventures

## Lightstone Ventures highlights

- 01 22 rounds on record
- 02 Mostly Series B and Series A: 76% of its rounds
- 03 Led 1 rounds

## What they do

> Our experienced life science investors seek out visionary founders to translate novel scientific breakthroughs into clinically and commercially meaningful therapies. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $100K – $5.0M as they say
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Lifescience Psychedelics Ivd
- **Based in:** Portola Valley, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **22 appearances**

- **2025** 4 rounds
- **Aug** **[ProVerum Medical](https://millionrounds.com/company/proverum-medical)** Series B · IE · Crunchbase News **$80M** With 7 others
- **Aug** **[Apreo Health](https://millionrounds.com/company/apreo-health)** Series B · US · TechStartups **$130M** With 6 others
- **Jun** **[Allay Therapeutics](https://millionrounds.com/company/allay-therapeutics)** Series D · US · Firms' own news pages **$58M** *Led*
- **Apr** **[Atsena Therapeutics](https://millionrounds.com/company/atsena-therapeutics)** Series C · US · Hatteras Venture Partners **$150M** With 9 others
- **2021** 1 round
- **Aug** **[Vigil Neuroscience](https://millionrounds.com/company/vigil-neuroscience)** Series B · US · Hatteras Venture Partners **$90M** With 12 others
- **2019** 4 rounds
- **Oct** **[Cyteir Therapeutics](https://millionrounds.com/company/cyteir-therapeutics)** US · FinSMEs **$40M** With 5 others
- **Sept** **[Bold Penguin](https://millionrounds.com/company/bold-penguin)** Series B · US · VentureBeat **$32M** With 3 others
- **May** **[Locana](https://millionrounds.com/company/locana)** Series A · US · FinSMEs **$55M** With 4 others
- **Feb** **[Nuvaira](https://millionrounds.com/company/nuvaira)** US · FinSMEs **$79M** With 9 others
- **2018** 4 rounds
- **Oct** **[Earlens](https://millionrounds.com/company/earlens)** US · Prnewswire **$87M** With 15 others
- **Jun** **[Nimbus](https://millionrounds.com/company/nimbus)** US · FinSMEs **$65M** With 6 others
- **Mar** **[Cyteir](https://millionrounds.com/company/cyteir)** Series B · US · FinSMEs **$29M** With 2 others
- **Jan** **[Fire1](https://millionrounds.com/company/fire1)** Series C · IE · Siliconrepublic **$50M** With 4 others
- **2017** 2 rounds
- **Oct** **[Gemini Therapeutics](https://millionrounds.com/company/gemini-therapeutics)** Series A · US · FinSMEs **$43M** With 2 others
- **Jun** **[Earlens](https://millionrounds.com/company/earlens)** Debt · US · FinSMEs **$118M** With 9 others
- **2016** 1 round
- **Dec** **[Cerevance](https://millionrounds.com/company/cerevance)** Series A · US · FinSMEs **$22M** With 1 other
- **2015** 2 rounds
- **Jul** **[Ra Pharmaceuticals](https://millionrounds.com/company/ra-pharmaceuticals)** Series B · US **$59M** With 8 others
- **Mar** **[Nimbus Therapeutics](https://millionrounds.com/company/nimbus-therapeutics)** Series B · US **$43M** With 5 others
- **2014** 3 rounds
- **Sept** **[Flex Pharma](https://millionrounds.com/company/flex-pharma)** Venture · US **$40M** With 9 others
- **Aug** **[Claret Medical](https://millionrounds.com/company/claret-medical)** Series B · US **$18M** With 2 others
- **Jan** **[FIRE1](https://millionrounds.com/company/fire1)** Series A · IE **Undisclosed** With 2 others
- **2013** 1 round
- **Nov** **[Catabasis Pharmaceuticals](https://millionrounds.com/company/catabasis-pharmaceuticals)** Series B · US · finsmes.com **$32M** With 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **9 named**

CK **Christina Kaldany Isacson** Member of Lsv Associates III, LLC i Form ADV

HA **Henry A. Plain, Jr.** Managing Director of the general partners i Filing they signed

HA **Henry Albert Plain** Director of Lightstone Singapore Associates, LLC i Form ADV

JL **Jaclyn Lettmann** Member of Lightstone Singapore Associates, LLC i Form ADV

JW **Jason W. Lettmann** Manager of the General Partner i Filing they signed

JM **Jean M. George** Member/Director of Lightstone Singapore Associates, LLC i Form ADV

MA **Michael A. Carusi** Director of Lightstone Singapore Associates, LLC i Form ADV

RE **Ralph Earl Christoffersen** Managing Director of the general partners i Filing they signed

TJ **Travis John Boettner** Chief Financial Officer i Form ADV

We also hold **18** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$553M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** LSV Capital Management, LLC
- **SEC number:** CRD 168121

## What they claim to have backed

From their own portfolio page (on their website)

**25** of 42 we have independently watched raise

[Acceleronpharma](https://millionrounds.com/company/acceleron-pharma)[Alxoncology](https://millionrounds.com/company/alx-oncology)[Calahealth](https://millionrounds.com/company/cala-health)[Carricktherapeutics](https://millionrounds.com/company/carrick-therapeutics)[Cerevance](https://millionrounds.com/company/cerevance)[Claretmedical](https://millionrounds.com/company/claret-medical)[Contegomedical](https://millionrounds.com/company/contego-medical)[Cyteir](https://millionrounds.com/company/cyteir-therapeutics)[Endogastricsolutions](https://millionrounds.com/company/endogastric-solutions)[Fire1foundry](https://millionrounds.com/company/fire1)[Flex-pharma](https://millionrounds.com/company/flex-pharma)[Gynesonics](https://millionrounds.com/company/gynesonics)[Hydrabiosciences](https://millionrounds.com/company/hydra-biosciences)[Mersana](https://millionrounds.com/company/mersana-therapeutics)[Moximed](https://millionrounds.com/company/moximed)[Plexxikon](https://millionrounds.com/company/plexxikon)[Portola](https://millionrounds.com/company/portola)[Proverummedical](https://millionrounds.com/company/proverum-medical)[Relievant](https://millionrounds.com/company/relievant-medsystems)[Setpointmedical](https://millionrounds.com/company/setpoint-medical)[Shoulderinnovations](https://millionrounds.com/company/shoulder-innovations)[Tallactherapeutics](https://millionrounds.com/company/tallac-therapeutics)[Thefoundry](https://millionrounds.com/company/the-foundry)[Verastem](https://millionrounds.com/company/verastem)[Volta-medical](https://millionrounds.com/company/volta-medical) 65lab.sg Alchemab BioVenture VoiCes Episode Bonitobio Cardiacbooster Coolsculpting Fiveprime Microvention Powervisionlens ProVerum ProVee System ProVerum’s CFO Hire Psithera Rapharma Reprievecardio Tagworkspharma Trotana Vigilneuro

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$375M**

raised in Sept 2021

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$61M** the round, not its cheque

Led 1 of 22 rounds **5%**

- **Said size:** $100K – $5.0M
- **Sole investor:** Never alone
- **Last cheque:** Aug 2025

Rounds by stage said on their site

- Series B said *9*
- Series A said *4*
- Series C *2*
- Debt *1*
- Series D *1*
- Seed said *-*
- Growth said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) 6
- [Atlas Venture](https://millionrounds.com/fund/atlas-venture) 3
- [OrbiMed](https://millionrounds.com/fund/orbimed) 3
- [Bain Capital](https://millionrounds.com/fund/bain-capital) 2
- [Bain Capital Life Sciences](https://millionrounds.com/fund/bain-capital-life-sciences) 2
- [Bill Gates](https://millionrounds.com/fund/bill-gates) 2

**Pitching Lightstone Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Lightstone Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**New Enterprise Associates** VC firm **6** rounds together](https://millionrounds.com/fund/new-enterprise-associates)[**Atlas Venture** VC firm **3** rounds together](https://millionrounds.com/fund/atlas-venture)[**OrbiMed** Private equity **3** rounds together](https://millionrounds.com/fund/orbimed)[**Bain Capital** Private equity **2** rounds together](https://millionrounds.com/fund/bain-capital)[**Bain Capital Life Sciences** Private equity **2** rounds together](https://millionrounds.com/fund/bain-capital-life-sciences)[**Bill Gates** VC firm **2** rounds together](https://millionrounds.com/fund/bill-gates)[**CRG** Private equity **2** rounds together](https://millionrounds.com/fund/crg-lp)[**Hatteras Venture Partners** VC firm **2** rounds together](https://millionrounds.com/fund/hatteras-venture-partners)[**Medtronic** Growth equity **2** rounds together](https://millionrounds.com/fund/medtronic)[**Morgenthaler Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/morgenthaler)[**Osage University Partners** VC firm **2** rounds together](https://millionrounds.com/fund/osage-university-partners)[**Pfizer** Corporate VC **2** rounds together](https://millionrounds.com/fund/pfizer)

## Recently backed

The latest companies Lightstone Ventures put money into.

[**Apreo Health** $130M · Aug 2025](https://millionrounds.com/company/apreo-health)[**Allay Therapeutics** $58M · Jun 2025](https://millionrounds.com/company/allay-therapeutics)[**Atsena Therapeutics** $150M · Apr 2025](https://millionrounds.com/company/atsena-therapeutics)[**Cyteir Therapeutics** $40M · Oct 2019](https://millionrounds.com/company/cyteir-therapeutics)[**Locana** $55M · May 2019](https://millionrounds.com/company/locana)[**Earlens** $87M · Oct 2018](https://millionrounds.com/company/earlens)

## Quick answers about Lightstone Ventures

### What does Lightstone Ventures invest in?

Lightstone Ventures invests most often at Series B and Series A (76% of the rounds on record), in sectors such as Lifescience, Psychedelics and Ivd.

### How active is Lightstone Ventures?

22 investments on record, 0 of them in the last 12 months, and it led 1. The most recent was in Aug 2025.

### What has Lightstone Ventures invested in recently?

Its most recent investments on record: ProVerum Medical (Series B, Aug 2025), Apreo Health (Series B, Aug 2025) and Allay Therapeutics (Series D, Jun 2025).

### How big are Lightstone Ventures's cheques?

The median round it joins is $61M. It says it writes cheques of $100K to $5.0M.

### Does Lightstone Ventures lead rounds?

Sometimes: it led 1 of its 22 investments on record (5%).

### Where does Lightstone Ventures invest?

Most of the companies it backs are in the United States (86%) and Ireland (14%).

### Is Lightstone Ventures investing now?

No investments in the last 12 months; the latest was in Aug 2025.

### Who does Lightstone Ventures invest alongside?

Most often New Enterprise Associates (6 rounds together), Atlas Venture (3 rounds together) and OrbiMed (3 rounds together).

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