Lerer Hippeau Ventures, formerly Lerer Ventures, the New York-based venture capital firm’s new fund will continue to invest in local tech companies.
Small but influential Lerer Hippeau Ventures, formerly Lerer Ventures, has raised a $62 million fund—$12 million more than the partners had targeted. It is the venture capitalist’s fourth fund since the firm’s 2010 founding.
In addition to the new fund, the firm has added the surname of Eric Hippeau, former CEO of The Huffington Post and partner of the venture capital firm since 2011, to its moniker. Mr. Hippeau has been an adviser to the firm since its inception.
“We just felt it was time,” he said of the name change.
Lerer Hippeau Ventures has nurtured a wide range of New York startups, from the Huffington Post to Buzzfeed and Warby Parker. And although it has a new name, the firm’s interest in early-stage companies and its focus on New York has not changed. Unlike another significant local player, Union Square Ventures, which has lately been looking beyond New York for interesting investments, Lerer Hippeau Ventures makes roughly 70% of its investments here, Mr. Hippeau said in an interview Tuesday. And he expects that to continue with this new fund.
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