Sack, who will stay involved in the startup, plans to focus on his roles as general partner at Founder's Co-op and director of TechStars Seattle.
Lackland comes to Lighter Capital as the former CFO of Power Efficiency Corporation.
Xconomy reports Lackland's vision for the startup's future:
"As he takes over, Lackland says Lighter Capital has learned some lessons that will change its approach in the future. The company won't be going after pre-revenue companies, he says, and will likely focus on customers that have some kind of a software or tech focus (and the accompanying high profit margins)."
To learn more about Lighter Capital, watch its FinovateFall 2011 demo.