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Where does Groupon CEO move leave Lightbank?

August 7, 2013: 7:23 PM ET

groupon_ipoEric Lefkosky is now CEO of Groupon. What does that mean for his venture capital firm?

FORTUNE -- Groupon (GRPN) today named co-founder Eric Lefkofsky as fulltime CEO, nearly six months after firing motivational troubadour Andrew Mason.

Lefkofsky had been sharing the role on an interim basis with investor Ted Leonsis, who will assume the chairmanship role. The company originally had planned to hire an executive recruiting firm to find a new leader (i.e., someone who would move from Silicon Valley to Chicago), but that never materialized.

This move obviously has an enormous impact on Groupon, but it also means changes for Lightbank: The early-stage tech incubator and venture capital firm that Lefkofsky helped launch with his early Groupon riches.

My understanding is that Lefkofsky now effectively serves as a special limited partner with Lightbank, attending partner meetings but spending the vast majority of his time on Groupon matters. Fellow Lightbank and Groupon co-founder Brad Keywell -- who also serves on the Groupon board -- and partner Paul Lee will lead future investment activity.

Lightbank's website shows 49 current portfolio companies.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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