What is Lightrock?
Lightrock is a global sustainable investment platform and certified B Corporation managing over $5.5 billion in assets across private and public markets. Founded in 2009 by Prince Max von Liechtenstein, Chairman of LGT Group, the London-headquartered firm backs purpose-driven entrepreneurs using technology to address major global challenges whilst generating strong financial returns.
The platform operates through six offices spanning Europe, North America, Latin America, Asia, and Africa, employing over 130 professionals representing approximately 30 nationalities. Lightrock investments focus on three core impact themes: People (education, healthcare, financial access), Planet (renewables, circular economy, climate solutions), and Productivity (tech for good innovations).
Recent Investments and Market Activity of Lightrock
Lightrock maintains an active investment pace across all geographies and themes. Recent investments include:
- December 2025: $40 million investment in Sun King to accelerate off-grid solar expansion across Africa and Asia, supporting the company’s goal to reach 200 million people by 2030.
- October 2025: Participation in Moniepoint’s Series C extension round and Katana MRP’s Series B funding alongside Atomico and other leading investors.
- September 2025: Investment in Atec Global’s $15.5 million round supporting clean cookstove technology across Cambodia.
- August 2025: Backing Previse Systems’ expansion of energy trading technology and infrastructure.
- July 2025: Support for Makersite’s €60 million raise to boost product sustainability capabilities serving enterprises globally.
These investments reflect Lightrock’s continued commitment to backing entrepreneurs addressing critical challenges whilst building commercially successful businesses at significant scale.
How Lightrock Began: The Founding Story
The impact investing activities at Lightrock started in 2009 when Prince Max von Liechtenstein initiated the venture to address some of the world’s most pressing challenges. As Chairman of LGT Group, the international private banking and asset management firm owned by the Princely House of Liechtenstein, Prince Max recognised the potential for capital to drive both financial returns and measurable social and environmental impact.
In 2021, LGT consolidated its various impact investing activities under the newly branded Lightrock entity, bringing together LGT Lightstone, Indian impact investor Aspada (acquired in 2019), and the Impact Ventures UK fund. This consolidation created one of the largest impact-focused growth portfolios across Europe, Latin America, India, and Africa, establishing Lightrock as an independent global investment platform whilst maintaining strong backing from LGT and the Princely Family.
Leadership: The People Behind Lightrock
Prince Max von Liechtenstein: Founder and Chairman
Prince Max von Liechtenstein founded both Lightrock and LGT Venture Philanthropy as expressions of the Princely Family’s entrepreneurial approach, long-term perspective, and commitment to sustainability. He has served as Chairman of LGT Group since 2021, after leading the organisation as CEO from 2006.
During his tenure at LGT, the group’s assets under management grew from $57 billion to more than $350 billion, whilst establishing LGT as one of the leading sustainable investing companies globally. Prince Max holds an MBA from Harvard Business School and worked in the private equity industry for JPMorgan Partners and IK from 1993 to 2005 before joining LGT.
His vision for Lightrock centres on the belief that scalable technologies and business models addressing climate change, healthcare access, education quality, and financial inclusion can deliver attractive financial returns whilst creating measurable positive impact. Beyond Lightrock and LGT, Prince Max sits on various boards including Wefox and serves on the Supervisory Board of Statkraft, Europe’s largest renewable energy producer.
Pål Erik Sjåtil: CEO and Global Managing Partner
Pål Erik Sjåtil joined as CEO and Global Managing Partner in October 2020, guiding the formation of Lightrock as an independent platform in 2021. He chairs the firm’s Investment Committees, Management Committee, and Executive Committee, overseeing all investment decisions and the platform’s strategic evolution.
Before Lightrock, Pål Erik spent over two decades at McKinsey & Company, serving as Managing Partner for Europe, a Senior Partner, and member of the firm’s Shareholders’ Council. At McKinsey, he led offices in Norway, Scandinavia, and Eastern Europe whilst advising global leaders across financial services, technology, telecommunications, and media sectors on corporate strategy, operations, and organisational transformations.
Pål Erik holds a Master’s degree in Industrial Economics from the Norwegian University of Science and Technology. Before his business career, he served as an officer in the Royal Norwegian Air Force. He currently sits on the Supervisory Board and Audit Committee of Statkraft, bringing his expertise in digitalisation and technological transformation to both roles.
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Investment Strategy and Focus Areas
Three Core Impact Themes
People: Lightrock investments in this theme focus on expanding access to quality education, improving healthcare delivery and accessibility, and extending financial services to underserved populations. Portfolio companies include MediBuddy (India’s largest omnichannel healthcare platform), Scaler (technology education), and various fintech platforms expanding banking access across emerging markets.
Planet: Climate-focused investments target renewable energy generation, circular economy solutions, sustainable transportation, and technologies enabling the transition to net zero. Recent Lightrock investments include Sun King (off-grid solar provider serving 50 million people across Africa), AMPIN Energy (India’s renewable energy transition platform), and SolarSquare (rooftop solar solutions).
Productivity: This theme encompasses technology-driven solutions creating efficiency improvements and enabling sustainable progress. Investments span SaaS platforms, digital infrastructure, AI-powered solutions, and business models leveraging technology for systemic change at scale.
Investment Approach and Process
Lightrock primarily invests growth capital in Series B+ companies demonstrating clear commercial validation, with typical investments ranging from $20 million to $75 million, though larger deals can reach $100 million. The firm takes minority stakes with board positions, actively supporting portfolio companies beyond capital provision through dedicated in-house knowledge and extensive global networks.
Each investment requires both compelling impact and financial theses. For every sector, Lightrock develops a theory of change outlining how the company progresses from current reality to positive future outcomes, identifying strategic innovations, business model developments, and new technologies driving commercially viable change. This rigorous approach ensures financial, social, and environmental returns reinforce each other rather than compete.
The firm is an inaugural signatory of the Operating Principles for Impact Management (OPIM), a global standard for integrating impact throughout the investment lifecycle. Lightrock investments undergo proprietary impact assessment using in-house methodology that influences due diligence, investment management, value creation, and exit processes.
Notable Lightrock Investments and Portfolio Companies
The Lightrock portfolio encompasses over 90 high-growth companies across 14 countries. Several portfolio companies have achieved unicorn status, validating the firm’s ability to identify and support ventures capable of reaching significant scale whilst delivering impact.
Healthcare and Education
CMR Surgical, a developer of next-generation surgical robots increasing access to keyhole surgery, became Lightrock’s first portfolio unicorn in 2019. The company has now treated more than 30,000 patients with its Versius robotic system. In India, PharmEasy operates as one of the largest omnichannel healthcare platforms, whilst DrConsulta provides healthcare services across Latin America.
MediBuddy recently achieved break-even, strengthening its position as one of India’s fastest-growing digital healthcare operators. The platform has transformed healthcare access for millions whilst demonstrating the commercial viability of impact-focused business models in emerging markets.
Energy and Climate Solutions
Sun King recently secured $40 million from Lightrock to accelerate its expansion across Africa and Asia. The off-grid solar provider has already brought power to more than 50 million people through flexible pay-as-you-go financing, creating one of the largest clean energy service networks on the continent. By 2030, Sun King plans to deploy more than 50 million additional solar kits, reaching 200 million people total.
AMPIN Energy, partnered since 2019, recently secured significant backing to establish a 1GW solar cell and module production facility in Odisha, India. The company completed India’s largest floating solar project at 140MWp, preventing over 85,000 MT of CO2 emissions annually.
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Financial Services and Technology
The portfolio includes various fintech platforms expanding financial access. Moniepoint received Series C funding in October 2025, supporting its mission to provide all-in-one financial services to underserved individuals and businesses. Creditas operates across Latin America, whilst Dock provides financial infrastructure solutions enabling financial inclusion through innovative credit technology.
Technology companies like Neo4j (leading graph database platform) recently partnered with Google Cloud to accelerate Generative AI application development. Group14 Technologies, which ranked third in Fast Company’s Most Innovative Companies 2024 manufacturing category, develops advanced battery materials supporting energy storage solutions.
Funding Structure and Investor Base
Lightrock is backed by LGT, the international private banking and asset management group, the Princely House of Liechtenstein, and other leading global institutions. The diverse investor base spans pension funds, charities, asset managers, endowments, family offices, corporates, sovereign institutions, development finance institutions (DFIs), and funds of funds.
Recent Fund Closings
Between 2021 and 2023, Lightrock closed three impact funds focused on scaling growth-stage technology businesses, with aggregate investor commitments of roughly 2 billion euros. These include dedicated funds for climate impact, regional focuses covering India, Latin America, and Africa, plus pan-European and North American strategies.
The Lightrock Climate Impact Fund, which closed with €860 million, focuses on European and North American growth-stage companies innovating towards a net-zero economy. The fund invests in five climate themes: Energy Transition, Decarbonising Industries, Sustainable Food & Agriculture, Sustainable Transportation, and cross-cutting Enabling Technologies & Solutions supporting decarbonisation across sectors.
Lightrock investments in these funds typically target Series B+ companies demonstrating clear greenhouse gas emission reductions, emerging commercial validation from sophisticated industrial customers, and potential for significant scale. The firm particularly seeks founders working to decarbonise hard-to-abate sectors including construction, transport, agriculture, and heavy industries.
Value Creation Beyond Capital
Lightrock investments come with active partnership extending far beyond cheque writing. The firm’s value creation approach encompasses several key pillars:
- Strategic Engagement: Active and accountable participation with top management on strategy and impact, supplemented by trusted senior advisers and sector specialists providing domain expertise.
- Functional Capability Development: Programmatic engagement in benchmarking and developing capabilities across HR, Finance, IT/Technology, Marketing & Communications, and governance structures. This systematic approach helps portfolio companies professionalise operations whilst scaling.
- Network Access: Leveraging global relationships and networks to benefit portfolio companies through industry introductions, sector expertise, assistance raising subsequent funding rounds, and media relations support.
- Impact Measurement: Committed approach to Impact Measurement and Management best practices, demonstrated through proprietary impact assessment harnessing Lightrock’s rich history in impact investing whilst incorporating highest industry standards for impact and ESG monitoring.
Frequently Asked Questions About Lightrock
Where does Lightrock operate?
Lightrock operates globally with six offices across four continents. The headquarters is in London, with additional offices in Zurich, Nairobi, Bangalore, São Paulo, and Utrecht. Lightrock investments span Europe, North America, Latin America, Asia, and Africa, with over 90 portfolio companies across 14 countries.
What is Lightrock's investment track record?
Lightrock has invested in more than 90 high-growth companies since 2009, with several achieving unicorn status including CMR Surgical, Lilium, and others. The firm manages over $5.5 billion in assets and has successfully exited multiple investments whilst maintaining focus on both financial returns and measurable impact.
How does Lightrock measure impact?
Lightrock employs a proprietary impact assessment methodology developed in-house, integrating the Operating Principles for Impact Management (OPIM) throughout the investment lifecycle. Each investment maps to UN Sustainable Development Goals with clear theories of change, impact KPIs tracked throughout the holding period, and regular reporting to investors.