Lerer Hippeau, one of New York’s most prominent early-stage venture capital firms, has just closed its ninth fund. This time with $200 million in new capital. That marks a significant jump from its previous $140 million fund and brings the firm’s total assets under management to $1.4 billion.
Founded in 2010, Lerer Hippeau has built a reputation for being an early backer of iconic startups that either went public or were successfully acquired. The portfolio reads like a who’s who of New York’s modern tech boom. Including names like Allbirds, Warby Parker, Casper, Axios, Birchbox, and Zipline. While the firm has always leaned heavily into the NYC tech scene. It hasn’t shied away from investments beyond the East Coast either.
Lerer Hippeau also stands out as a multi-generational VC outfit. Andrea Hippeau, now a partner, is the daughter of managing partner and co-founder Eric Hippeau, while Ben Lerer, also a managing partner, is the son of fellow co-founder Ken Lerer, who now serves as managing partner emeritus. The firm’s familial dynamic reflects a blend of legacy and continuity in an increasingly competitive early-stage market.
This new fund solidifies Lerer Hippeau’s position as a pillar of the New York startup ecosystem. Particularly at a time when capital is becoming more concentrated among a few dominant players. Earlier in 2024, NYC-based Insight Partners raised a massive $12.5 billion, and in August. Thrive Capital added $5 billion to its war chest. While all three firms invest globally—including in Silicon Valley. They provide critical firepower to New York’s increasingly sophisticated and competitive venture scene.
With its latest fund, Lerer Hippeau is doubling down on its early-stage roots, continuing to bet on the next wave of category-defining companies—many of which are likely to emerge from the city it helped turn into a tech hub.
