The firm, which is based in New York City, was founded in 2002 with the backing of UBS AG by Donald Marron.

[3][4][5] Marron was also a founder of Data Resources Inc.[6] The firm has raised approximately $3 billion since inception across its five funds.

[1][7] In March 2021, the firm filed documents stating that it had raised over $1.27 billion with 24 investors for its fifth fund, Lightyear Capital V.[8] Among the firm's most notable investments are Collegiate Funding Services (acquired by JPMorgan Chase),[9] ARGUS Software,[10] Higher One, NAU Country Insurance Company (the nation's third-largest crop insurer), Antares Holdings, New Flyer Industries, and Goldleaf Financial Solutions.

[12] In September 2021, Lightyear Capital acquired assets and partnered with Schellman & Company, LLC for the delivery of Information Technology and cybersecurity compliance services.

[13] This article about a private equity or venture capital firm based in the United States is a stub.