LC39 VC
LC39 VC is a company.
Active
Updated: ·
Financial History
Total Raised
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Valuation
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Leadership Team
Key people at LC39 VC.
LC39 VC is a company.
Key people at LC39 VC.
Key people at LC39 VC.
LC39 Venture Group (also referred to as LC39 VC) is an early-stage venture capital firm that launched with $40 million in 1999, specializing in seed, early-stage, and later-stage investments primarily in e-commerce and e-finance sectors.[1][2] Founded with a mission to differentiate through an incubation platform—uncommon at the time—the firm aimed to provide more than just capital, though its trajectory was shaped by major market disruptions.[2] Its investment philosophy emphasized hands-on support for startups in high-growth digital commerce and financial services, contributing to the ecosystem by backing innovative companies during the internet boom's nascent phases.[1][2]
LC39 was founded in 1999 by Jim Butterworth (Tuck School of Business MBA '91), who had prior experience running a company in New York after his investment banking and technology background.[2] Butterworth launched the firm to "do it differently" by offering an incubation platform alongside funding, raising $40 million for early-stage deals amid the dot-com era.[2] The firm's focus evolved amid challenges: the dot-com bubble burst and 9/11 disrupted operations, leading Butterworth to pivot personally to Colorado before co-founding Naked Edge Films by 2008.[2] Limited public details exist on post-1999 evolution or other key partners, but alumni like Kristin (from New State Capital) note early involvement with LC39 Ventures in early-stage VC alongside ventures like CitySearch.com.[4]
LC39 rode the late-1990s internet and e-commerce wave, investing when online retail and digital finance were emerging amid hype around platforms like CitySearch.com.[1][2][4] Timing was critical: launching pre-bubble burst allowed early positioning in high-potential sectors, but market forces like the 2000 crash and 9/11 tested resilience, highlighting VC's vulnerability to macroeconomic shocks.[2] The firm influenced the ecosystem by popularizing incubation models, paving the way for modern operator-led VCs, and alumni contributions extended its legacy into later funds focused on tech and distressed opportunities.[2][4]
With sparse recent activity post-dot-com era, LC39's influence appears historical, shaped by Butterworth's pivot to media production.[2] Emerging trends like fintech revival (e.g., embedded finance) and e-commerce resurgence via AI could align with its original thesis, potentially inspiring revivals or similar models.[1] Its network may evolve through alumni in active firms, sustaining indirect impact—watch for Butterworth-linked ventures or e-finance plays amid 2025's digital economy shifts, tying back to its bold 1999 bet on incubation over passive investing.[1][2][4]
