Lerer Hippeau Raises $200M for New York Startups

Lerer Hippeau Closes $200 Million Ninth Fund

Lerer Hippeau, a prominent venture capital seed fund based in New York, revealed on Wednesday the successful closing of its ninth fund, totaling $200 million. This represents an increase compared to the $140 million secured in its eighth fund.

The firm now manages a total of $1.4 billion in assets, demonstrating significant growth and investor confidence.

Investment Portfolio and Track Record

Established in 2010, Lerer Hippeau has consistently invested in a diverse range of startups. Many of these companies have achieved significant milestones, including initial public offerings (IPOs) and acquisitions.

Notable companies within their portfolio include Allbirds, Axios, Birchbox, Brit + Co, Casper, Namely, Zipline, and Warby Parker.

A Family-Oriented Firm

Lerer Hippeau exhibits a unique characteristic: a strong family connection within its leadership. Andrea Hippeau currently serves as a partner, being the daughter of co-founder and managing partner, Eric Hippeau.

Similarly, Ben Lerer, the firm’s managing partner, is the son of co-founder and managing partner emeritus, Ken Lerer.

New York's Thriving Venture Capital Landscape

The success of Lerer Hippeau is indicative of the robust venture capital activity in New York City. Other prominent firms have also recently raised substantial funds.

Insight Partners, another New York-based venture capital firm, secured $12.5 billion in new funding earlier this year. Furthermore, Thrive Capital raised $5 billion in August 2024.

While these firms invest beyond the New York ecosystem, including Silicon Valley and other regions, their substantial capital infusions significantly strengthen the New York startup environment.