PartnerFacts
Data last updated: Oct 23, 2026, 5:45 PM ETLatest filing: Oct 22, 2026Now: Oct 24, 2026, 6:52 AM ET

Sponsor Check › Sponsor group

L

Lightbay

One sponsor team, 6 deal companies · Los Angeles, CA

Grouped because: 2 shared people, similar issuer names (6) (automatic match from the filings) · not the same sponsor?

6deal companies
$3.13Breported sold
425investors
9Form D filings
2017–2023active
0new, last 12 mo
Follow this sponsor groupLook further ↓

Data last updated Oct 23, 2026, 5:45 PM ET · Latest filing in this group May 30, 2023 · Courts (RECAP) last checked: Oct 24, 2026, 2:16 AM ET · SEC enforcement last checked: covered by the index scan as of Oct 24, 2026, 2:50 AM ET

The short version

Lightbay is a sponsor group of 6 issuers that PartnerFacts links to one sponsor (shared people, similar issuer names; automatic match from the filings), filing 9 Form D filings between Sep 2017 and May 2023.

What this means One team, 6 deal companies, about 6 years of track record in SEC filings. We link the companies because the same people or address appear on their forms — tap "Request a correction" if that is wrong.

Combined reported sold: $3.13B to 425 investors (latest filing per issuer). Industries as reported: Pooled Investment Fund (6). Issuers are based in CA (6).

What this means $3.13B raised across the group, about $7.36M per investor. Amounts come from each company's latest Form D; they are what the sponsor reported, not audited figures.

Principal people: Adam Stein (6 issuers, executive officer, director, and promoter) and Navroz Rahemtulla (6 issuers, executive officer, director, and promoter).

What this means 6 deals for a two-person team on paper. The person on the most companies is usually the one running the show; their page lists every deal.

Activity: 0 new offerings in the last 12 months; latest filing May 30, 2023.

What this means No new raise filed in the past year.

Public records searched: federal courts (CourtListener / RECAP), SEC enforcement releases, state securities regulators (AR, AZ, CA, CT, DE, FINRA, GA, HI, ID, LA, ME, MO, MS, MT, NASAA, NC, NH, NM, OR, RI, TX, WA), property records (NYC, FL, IL and TX counties) — none found.

What this means Nothing turned up where we looked (4 sources). That does not prove there is nothing — it means none was found in those sources on that date.

We compared 9 public filings for Lightbay and found 3 differences: 64 other issuers file from the same address; 4 offerings have no amendment in the last 12 months and may still be open; and more below.

What this means These are differences between the sponsor's own SEC filings — both values, dates and sources are listed in Key records, section 4. Most have ordinary explanations; ask the sponsor.

What the community is saying

Community search for Lightbay has not run yet — it is joining a line of 21,080 names; searches run around the clock at the hosts' allowed rate. Searched so far: 325 names.

Community comments are quoted as written by their authors. Sources searched: BiggerPockets forums (via DuckDuckGo, Brave, Bing and BiggerPockets search) and Reddit (search feed + public archive).

Key records

Five things investors ask first. Items still in human review are counted, not shown.

1. Lawsuits

None found in sources searched — federal courts (CourtListener / RECAP), checked Oct 24, 2026

What was searched

Sources searched: CourtListener bulk data (RECAP dockets as of 2026-09-30; recall-first rule 10-24) — federal district + bankruptcy courts State courts: not covered (one-tap state court links under Look further). PACER: not searched. · Last checked Oct 24, 2026, 2:16 AM ET.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

2. Regulatory actions

None found in sources searched — SEC enforcement releases (index scan as of Oct 24, 2026, 2:50 AM ET) · state securities regulators: NV (crawled Oct 23, 2026)

What was searched

SEC enforcement searched: SEC litigation releases and administrative proceedings — respondent names in the sec.gov index titles (30,205 releases, 1995-09-19 to 2026-10-23); release text is read only to confirm a candidate. Names that appear only in the body of a release are not found. — Searched SEC litigation releases and administrative proceedings (1995→ / 2007→) (30,205 records as of Oct 24, 2026, 2:50 AM ET) — nothing matched Lightbay..

State securities regulators: Securities regulators searched (3,318 actions): AZ Corporation Commission Securities Division (411 actions, 2017–2026), CA DFPI (25 actions, 2007–2024; listing starts 2002), DE DOJ Investor Protection Unit (257 actions, 1987–2026), TX State Securities Board (586 actions, 2006–2026), WA DFI (2,039 actions, 2001–2026) — 16 of 12,159 DFPI respondent pages read so far; sponsor-name matches are read first — last crawled Oct 23, 2026, 9:57 PM ET. No machine-readable public listing today for IA, IN, KS, MI, NE, NV (see docs/state-regulators.md).

3. Bankruptcies

None found in sources searched — federal bankruptcy courts (CourtListener / RECAP), checked Oct 24, 2026

What was searched

Sources searched: Federal bankruptcy courts via CourtListener / RECAP archive (federal district courts, federal bankruptcy courts). State courts: not covered (one-tap state court links under Look further). PACER: not searched (RECAP only). · Last checked Oct 24, 2026, 2:16 AM ET.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

4. Differences between public sources

No comparisons published

What is compared

No public statement by this sponsor group has been collected yet, so there is nothing to compare. Sources compared: the sponsor's own website (known from the issuer's own filings — Form C issuer website, EDGAR company profile — an approved profile claim or Form ADV Item 1.I of its matched adviser) · SEC Form D · SEC Form ADV (IAPD) · Internet Archive · No website is on file for this sponsor group yet.

3 differences found between the filings for Lightbay (compared 9 filings on Oct 24, 2026)

Note · Sep 28, 2017 – May 30, 2023

64 other issuers file from the same address — 6 member issuers (LIGHTBAY INVESTMENT PARTNERS A LP; LIGHTBAY INVESTMENT PARTNERS LP; LIGHTBAY EXECUTIVE FUND LP; …)

The address on file, 11601 Wilshire Boulevard, Suite 1110, Los Angeles, CA, is used by 70 issuers in our index across 13 sponsor groups; 64 are outside this group. It is on our registered-agent / shared-office list (78 issuers in 27 unrelated clusters).

What this means Many unrelated companies file from this address. Often a registered agent or a fund administrator; sometimes a shared office. Ask where the team actually works.

LIGHTBAY INVESTMENT PARTNERS A LP — PartnerFacts page ↗LIGHTBAY INVESTMENT PARTNERS LP — PartnerFacts page ↗LIGHTBAY EXECUTIVE FUND LP — PartnerFacts page ↗EDGAR filer page · LIGHTBAY INVESTMENT PARTNERS A LP ↗
Sources
Note · Feb 22, 2018 – May 30, 2023

4 offerings have no amendment in the last 12 months and may still be open

No amendment in the last 12 months on an offering that may still be open — LIGHTBAY EXECUTIVE FUND II LP (latest filing May 30, 2023) · No amendment in the last 12 months on an offering that may still be open — LIGHTBAY INVESTMENT PARTNERS II-A LP (latest filing May 30, 2023) · No amendment in the last 12 months on an offering that may still be open — LIGHTBAY INVESTMENT PARTNERS II LP (latest filing May 30, 2023) · No amendment in the last 12 months on an offering that may still be open — LIGHTBAY EXECUTIVE FUND LP (latest filing Mar 7, 2018)

What this means SEC rules expect a yearly amendment while an offering is still going. Ask the sponsor which of these raises have closed.

Form D/A · May 30, 2023 ↗LIGHTBAY EXECUTIVE FUND II LP — PartnerFacts page ↗Form D/A · May 30, 2023 ↗LIGHTBAY INVESTMENT PARTNERS II-A LP — PartnerFacts page ↗
Sources
Note · Sep 28, 2017 – May 30, 2023

6 issuers use a registered-agent or shared-office address

Address on file is a registered agent / shared office — LIGHTBAY EXECUTIVE FUND II LP · Address on file is a registered agent / shared office — LIGHTBAY INVESTMENT PARTNERS II-A LP · Address on file is a registered agent / shared office — LIGHTBAY INVESTMENT PARTNERS II LP · Address on file is a registered agent / shared office — LIGHTBAY EXECUTIVE FUND LP · Address on file is a registered agent / shared office — LIGHTBAY INVESTMENT PARTNERS LP · and 1 more

What this means A registered agent's address is a mailbox, not where the team works. Ask where the business operates.

Form D/A · May 30, 2023 ↗LIGHTBAY EXECUTIVE FUND II LP — PartnerFacts page ↗Form D/A · May 30, 2023 ↗LIGHTBAY INVESTMENT PARTNERS II-A LP — PartnerFacts page ↗
Sources
What is compared

What is compared: every Form D and D/A we hold for this subject, side by side — filing dates vs. first-sale dates (the 15-day rule), amendment timing on open offerings (the yearly-amendment expectation), amounts sold, investor counts, offering amounts and minimums across amendments, industry and size bands, addresses, how each person's name and role is written, paid sellers' CRD numbers, and (for groups) where the member companies were formed and sit. Everything is as filed by the issuer; the SEC does not check it. Differences are common and usually have ordinary explanations — we show both values, the dates, and the source so you can ask. As of Oct 24, 2026.

5. Money to insiders

0 of 6 offerings report sales commissions; 0 report finder's fees; 0 report proceeds to related persons. (includes amounts the issuer reported as estimates)

Offering (latest filing)Sales commissionsFinder's feesTo insidersPaid to sell itSource
May 30, 2023 D/A
LIGHTBAY INVESTMENT PARTNERS II LP
File 021-415072
$0$0$0 (est.)
The general partner is entitled to a performance allocation. The investment manager is entitled to a management fee. The performance allocation and management fee are fully discussed in the Issuer's confidential offering materials.
UBS SECURITIES LLC BrokerCheck CRD 7654 ↗EDGAR ↗
May 30, 2023 D/A
LIGHTBAY INVESTMENT PARTNERS II-A LP
File 021-415074
$0$0$0 (est.)
The general partner is entitled to a performance allocation. The investment manager is entitled to a management fee. The performance allocation and management fee are fully discussed in the Issuer's confidential offering materials.
UBS SECURITIES LLC BrokerCheck CRD 7654 ↗EDGAR ↗
May 30, 2023 D/A
LIGHTBAY EXECUTIVE FUND II LP
File 021-452370
$0$0$0 (est.)
The general partner is entitled to a performance allocation. The investment manager is entitled to a management fee. The performance allocation and management fee are fully discussed in the Issuer's confidential offering materials.
None listed on this filingEDGAR ↗
Mar 7, 2018 D
LIGHTBAY EXECUTIVE FUND LP
File 021-307162
$0$0$0 (est.)None listed on this filingEDGAR ↗
Sep 28, 2017 D
LIGHTBAY INVESTMENT PARTNERS A LP
File 021-295620
$0 (est.)$0 (est.)$0 (est.)UBS SECURITIES LLC BrokerCheck CRD 7654 ↗EDGAR ↗
Sep 28, 2017 D
LIGHTBAY INVESTMENT PARTNERS LP
File 021-295621
$0 (est.)$0 (est.)$0 (est.)UBS SECURITIES LLC BrokerCheck CRD 7654 ↗EDGAR ↗
How this is counted

Counts come from Form D Items 12–15 on the filings in our index (latest filing per offering; one offering = one SEC file number; an amendment updates its offering rather than adding one). "To insiders" = gross proceeds used for payments to executive officers, directors or promoters. "—" = not reported on that filing. Amounts marked (est.) were reported as estimates. "Paid to sell it" = sales compensation recipients named on that filing (Item 12), each linked to FINRA BrokerCheck when a CRD number is reported.

Counted across all 6 issuers in this group — every filing in our index, latest filing per offering (SEC file number).

Property records 0 documents · 0 ownership records · last checked Oct 24, 2026, 6:47 AM ET · NYC and Cook County lookup still to run

0 recorded documents and 0 ownership records matched to Lightbay in the sources searched.

Not found in sources searched as of Oct 24, 2026, 6:47 AM ET: Hillsborough County FL Clerk of Court Official Records daily index (publicrec.hillsclerk.com D/P/M files), 2 daily files (Oct 14, 2026 to Oct 15, 2026) — loaded Oct 23, 2026, 8:59 PM ET; Harris County TX (HCAD ownership rolls 2024–2026) — 426,653 records, loaded Oct 24, 2026, 6:47 AM ET; Dallas County TX (DCAD ownership roll 2026) — 173,688 records, loaded Oct 23, 2026, 8:58 PM ET; Hillsborough County FL (FL DOR 2026 ownership roll + Clerk recorded-document index Oct 14, 2026 to Oct 15, 2026), Miami-Dade County FL (FL DOR 2026 ownership roll) — 294,950 records, loaded Oct 23, 2026, 8:58 PM ET. Still to be looked up for this group: NYC ACRIS via NYC Open Data (Real Property Parties 636b-3b5g, Master bnx9-e6tj, Legals 8h5j-fqxa, Document Control Codes 7isb-wh4c) · NYC PLUTO ownership via NYC Open Data (64uk-42ks) · Cook County IL Assessor via Cook County Open Data (Parcel Sales wvhk-k5uv; Parcel Addresses 3723-97qp). Records in other counties, and recorder indexes we do not yet cover, were not searched.

Property records coverage: New York City (ACRIS recorded documents and PLUTO ownership, looked up per issuer when its page is viewed; re-checked when the page is viewed again more than 30 days after the last check); Harris County TX (ownership only, no deed, mortgage or sale records; HCAD ownership rolls 2024–2026); Dallas County TX (ownership only, no deed, mortgage or sale records; DCAD ownership roll 2026); Hillsborough County FL (FL DOR 2026 ownership roll + Clerk recorded-document index Oct 14, 2026 to Oct 15, 2026), Miami-Dade County FL (FL DOR 2026 ownership roll); Cook County IL (assessor ownership and deed/sale records, looked up per issuer when its page is viewed). Recorder indexes (party names on deeds, mortgages and liens) in TX, AZ, NV, CA and WA counties and outside the Clerk index in FL, mortgages and liens outside NYC and Hillsborough County, lis pendens and foreclosure notices everywhere, Los Angeles County CA, Clark County NV, King County WA (loader ready; first load not finished), Cook County IL bulk pass (not finished; per-issuer lookups only so far), New York City bulk pass (not finished; per-issuer lookups only so far), Maricopa County AZ (loader ready; commercial-purpose statement not yet filed), Salt Lake County UT, and all other counties are not covered — not searched. Last refresh by source: Harris County Appraisal District real_acct.txt Oct 24, 2026, 6:47 AM ET; Hillsborough County FL Clerk daily index Oct 23, 2026, 8:59 PM ET; Dallas Central Appraisal District ACCOUNT_INFO.CSV Oct 23, 2026, 8:58 PM ET; Florida DOR NAL roll (Dade 23) Oct 23, 2026, 8:58 PM ET; Florida DOR NAL roll (Hillsborough 39) Oct 23, 2026, 8:54 PM ET. NYC and Cook County are also looked up per issuer when its page is viewed; the most recent such lookup on this site finished Oct 24, 2026, 3:30 AM ET. Parties are named as the recorder's index names them (role suffixes as recorded); no address, account number or trust date is shown for an individual, and individual owners of record (home ownership) are not matched or shown. Items still in human review are not shown.

Issuers in this group

Why each issuer is here is stated in the "Linked by" column. Low-confidence links are never shown — they wait for human review.

SourceIssuerLinked byLocationIndustryFilingsSold (max)InvestorsMin. investment (latest filing)Active
EDGAR ↗LI LIGHTBAY INVESTMENT PARTNERS A LPshared people, similar issuer namesLOS ANGELES, CAPooled Investment Fund1$0
offering Indefinite · similar: $155,000–$5,250,000
0
similar: 4–27
No minimum reported
similar: $1,000–$100,000
2017–2017
EDGAR ↗LI LIGHTBAY INVESTMENT PARTNERS LPshared people, similar issuer namesLOS ANGELES, CAPooled Investment Fund1$0
offering Indefinite · similar: $155,000–$5,250,000
0
similar: 4–27
No minimum reported
similar: $1,000–$100,000
2017–2017
EDGAR ↗LE LIGHTBAY EXECUTIVE FUND LPshared people, similar issuer namesLOS ANGELES, CAPooled Investment Fund1$5,250,000
offering Indefinite · similar: $155,000–$5,250,000
2
similar: 4–27
No minimum reported
similar: $1,000–$100,000
2018–2018
EDGAR ↗LI LIGHTBAY INVESTMENT PARTNERS II LPshared people, similar issuer namesLOS ANGELES, CAPooled Investment Fund2$1,040,355,000
offering Indefinite · similar: $155,000–$5,250,000
141
similar: 4–27
No minimum reported
similar: $1,000–$100,000
2021–2023
EDGAR ↗LI LIGHTBAY INVESTMENT PARTNERS II-A LPshared people, similar issuer namesLOS ANGELES, CAPooled Investment Fund2$1,040,355,000
offering Indefinite · similar: $155,000–$5,250,000
141
similar: 4–27
No minimum reported
similar: $1,000–$100,000
2021–2023
EDGAR ↗LE LIGHTBAY EXECUTIVE FUND II LPshared people, similar issuer namesLOS ANGELES, CAPooled Investment Fund2$1,040,355,000
offering Indefinite · similar: $155,000–$5,250,000
141
similar: 4–27
No minimum reported
similar: $1,000–$100,000
2022–2023

"Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

Timeline of offerings

SourceFiledIssuerFormIndustryOfferedSold
EDGAR ↗May 30, 2023LIGHTBAY EXECUTIVE FUND II LPD/APooled Investment FundIndefinite$1,040,355,000
EDGAR ↗May 30, 2023LIGHTBAY INVESTMENT PARTNERS II-A LPD/APooled Investment FundIndefinite$1,040,355,000
EDGAR ↗May 30, 2023LIGHTBAY INVESTMENT PARTNERS II LPD/APooled Investment FundIndefinite$1,040,355,000
EDGAR ↗Jul 14, 2022LIGHTBAY EXECUTIVE FUND II LPDPooled Investment FundIndefinite$0
EDGAR ↗Sep 29, 2021LIGHTBAY INVESTMENT PARTNERS II-A LPDPooled Investment FundIndefinite$0
EDGAR ↗Sep 29, 2021LIGHTBAY INVESTMENT PARTNERS II LPDPooled Investment FundIndefinite$0
EDGAR ↗Mar 7, 2018LIGHTBAY EXECUTIVE FUND LPDPooled Investment FundIndefinite$5,250,000
EDGAR ↗Sep 28, 2017LIGHTBAY INVESTMENT PARTNERS LPDPooled Investment FundIndefinite$0
EDGAR ↗Sep 28, 2017LIGHTBAY INVESTMENT PARTNERS A LPDPooled Investment FundIndefinite$0

Activity: 0 new offerings in the last 12 months across all issuers in this group (new offering = a Form D that is not an amendment, D/A) · most recent filing May 30, 2023. Industry history, as reported on each offering's latest filing: All 6 offerings reported: Pooled Investment Fund (2017–2022).

People across the group

NameRolesIssuers hereFirst → last listed
AS ADAM STEINExecutive Officer, Director, Promoter6Sep 28, 2017 → May 30, 2023
NR NAVROZ RAHEMTULLAExecutive Officer, Director, Promoter6Sep 28, 2017 → May 30, 2023

Adviser registration (Form ADV)

Searched SEC Form ADV bulk data (registered + exempt reporting advisers) (24,962 records as of Oct 2, 2026, 8:00 AM ET) — nothing matched Lightbay.

Meta advertising

No Meta Pixel ids or Facebook / Instagram page links on file for Lightbay as of Oct 24, 2026 — the sponsor website is read for them once it is on file (runs automatically). Meta Ad Library: not searched by PartnerFacts (no API access); a one-tap Ad Library search is under Look further.

Other offering types (Regulation A and Regulation Crowdfunding)

Searched SEC Regulation A Data Sets (Forms 1-A, 1-K, 1-Z; 2015 Q2 → 2026 Q3); SEC Crowdfunding Offerings Data Sets (Form C family; 2016 Q2 → 2026 Q3); EDGAR form index for 2026 Q3 → 2026 Q4 (51,358 records as of Oct 23, 2026, 8:41 PM ET) — nothing matched this name.

Public profiles and social

No website or social profile named in Lightbay's SEC filings (Form C, Reg A, Form ADV; checked Oct 24, 2026). Web search for this name: #125,332 of 374,652 in line (528 issuers searched so far). One-tap searches: Look further ↓

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Change history

No corrections have been requested for this page.

Request a correction

Free. Covers the grouping itself or any record shown here. Logged with status: received → under review → fixed / confirmed with source.

Sponsor response

Add a sourced explanation next to any fact. Reviewed before publishing.

Grouping is PartnerFacts' inference from public filings (shared related persons, management entities, business address). Everything else on this page is drawn from the filings themselves. Not the same sponsor? Request a correction.

Look further

One-tap searches on sites we do not index ourselves, with the name pre-filled (outside the US (as filed: LOS ANGELES), CA). Each opens in a new tab; what you find there is not verified by PartnerFacts.

Social and web

LinkedIn companies ↗Instagram ↗X (Twitter) ↗Facebook ↗YouTube ↗Google ↗Google Images ↗Google News ↗Meta Ad Library ↗

Courts

CourtListener / RECAP (federal) ↗PACER case locator (federal, login) ↗California — find the county court ↗Los Angeles Superior Court case search ↗

Securities regulators

SEC EDGAR full-text search ↗SEC action look-up ↗FINRA BrokerCheck ↗SEC IAPD adviser search ↗

Business registries

California Secretary of State business search ↗OpenCorporates ↗