Lightbank Adds Bill Pescatello as Principal

Investment fund Lightbank, which was started by Groupon co-founders Eric Lefkofsky and Brad Keywell, will bring Bill Pescatello on board as a principal, the firm announced. Pescatello has worked with NBCUniversal and was founding member of Peacock Equity Fund, NBCU’s VC arm.

PRESS RELEASE:

CHICAGO, IL (May 2, 2011) – Lightbank, the investment fund started by Groupon co-founders Eric Lefkofsky and Brad Keywell, announced the hiring of Bill Pescatello as Principal. Pescatello, an experienced venture capital executive, will be responsible for identifying, executing and managing new and existing Lightbank investments nationally and will be based in Chicago.

Pescatello comes to Lightbank from NBCUniversal in New York where he was a Vice President and founding member of Peacock Equity Fund, NBCUniversal’s venture capital arm. At Peacock Equity, Pescatello identified several new investment opportunities and worked closely with a number of portfolio companies including Greystripe, Ramp, and Vivox. Greystripe, the largest brand-focused mobile advertising network in the U.S., was recently acquired by online marketing firm ValueClick (NASDAQ: VLCK).

“Having worked with Bill for a number of years, I saw firsthand his enthusiasm, energy, and respect for entrepreneurs. His experience and talents will be a great addition to the Lightbank team,” said Paul H. Lee, Partner. “We look forward to making the most of Bill’s expertise in expanding the scope and reach of Lightbank.”

“Lightbank has created a unique position for itself among leading venture capital firms by focusing on actively partnering with companies to help in the growth process,” commented Pescatello. “I’m excited to be working with the Lightbank team in building their vision of the new model in venture capital.”

Pescatello, a Chartered Financial Analyst, earned his MBA degree in finance and accounting from the University of Chicago’s Booth School of Business, where he graduated with honors. He holds a Bachelor’s degree in economics from Northwestern University.

About Lightbank:
Lightbank is an investment fund focused on early-stage technology companies. Founded by Eric Lefkofsky and Brad Keywell, who started Groupon, MediaBank, InnerWorkings (NASDAQ:INWK) and Echo Global Logistics (NASDAQ:ECHO), Lightbank invests money, time and expertise to help innovative businesses achieve dynamic growth. For more information, visit http://www.lightbank.com.