Lerer Hippeau raises a new $122M fund, plus $60M for follow-on investments

Lerer Hippeau has raised two new funds — $122 million for a sixth fund devoted to seed stage investments, as well as $60 million for a “Select Fund” focused on later-stage deals. Managing Partner Eric Hippeau said both funds will be used to continue the firm’s existing strategy: “We continue to be seed-first investors and New York-first investors. We’re big believers in New York.

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