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VC Firm To Increase Stake In Retail Supplier, Get Board Seat
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Matrix Partners XII, LP and Weston & Co. XII LLC (together, "Matrix") have entered into a transaction to acquire up to an additional 8.5% of the outstanding equity of Light Technology, LLC (Light Technology), which indirectly wholly owns
retail energy supplier Light Energy
If purchasing the full 8.5% of the equity contemplated under the transaction, Matrix would own about 14.2% of the outstanding voting interests in Light Technology
Matrix would also receive a non-independent
board seat at Light Technology, LLC
Matrix is an early-stage venture capital firm
Light Energy is currently active in Texas and "will" act as a retail energy supplier in several states in the PJM region, with such PJM expansion first reported by EnergyChoiceMatters.com
Matrix Partners XII, L.P. and Weston & Co. XII LLC are managed and controlled by Matrix XII
Management Co., LLC (Matrix XII Management)
The following individuals are each a Managing Member of and individually and
collectively control Matrix XII Management: Antonio Rodriguez, Timothy Barrows, Stan Reiss,
Dana Stalder, and Ilya Sukhar.
Matrix presently holds 6.2% of outstanding voting interests in Light Technology.
Under the transaction, Matrix will
purchase 38.6% of the Series A Preferred Stock in Light Technology, which represents 8.5% of
the outstanding voting interests in Light Technology
Upon consummation of the Transaction,
Matrix would hold 14.2% of the outstanding voting interests in Light Technology and have the
right to appoint a non-independent board member.
Currently, the following persons and entities own ten percent or
more of the interests in Light Technology:
• Baker Shogry (25.30%)
• Adam Compain (25.30%)
• Mischief 2, LP / Mischief-LI-0603 Fund 1 (14.07%)
• Spark Capital Founders Fund VII, LP / Spark Capital VI, L.P. (11.22%)
Post-transaction, if the full 8.5% is purchased, the following persons and entities would own ten percent or
more of the interests in Light Technology:
• Baker Shogry (23.15%)
• Adam Compain (23.15%)
• Mischief 2, LP / Mischief-LI-0603 Fund 1 (12.88%)
• Spark Capital Founders Fund VII, LP / Spark Capital VI, L.P. (10.27%)
• Matrix Partners XII, LP
Weston & Co. XII LLC (14.16%)
ADVERTISEMENT Copyright 2026 EnergyChoiceMatters.com. Unauthorized copying, retransmission, or republication
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July 6, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• Refreshed 5/27/26 -- Manager, ISO Coordination (electricity), Retail Supplier
• NEW -- Channel Partner Manager -- Retail Energy
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