Apr 9, 2025 - Business

Lerer Hippeau raises $200 million for latest VC fund

Dan Primack

Ben Lerer. Photo: Alex Flynn/Bloomberg via Getty Images

Lerer Hippeau has raised $200 million for its ninth flagship VC fund, the firm tells Axios exclusively.

Why it matters: It's been 30 years since "Silicon Alley" was coined to describe New York City's tech scene, and 25 years since its development was bolstered by the formation of what would become Lerer Hippeau.

Lerer Hippeau also is an initial investor in Axios, one of its relatively few non-NY deals, although no longer has a stake.

By the numbers: Each of the firm's nine funds has been slightly larger than its predecessor. Lerer Hippeau also is still investing out of its fourth "select" fund, which is around one-third committed.

What they're saying: "When we got started it was a right place, right time moment. Everyone was complaining that there was no institutional money in New York, plus no exited tech founders so no angels," Ben Lerer says.

"We're now so far past that, and even past New York being a consumer or media town. There's a sliver of AI and cloud infrastructure that generally builds in San Francisco, but at the mid or app layer in any of those markets, there are major businesses getting built here."

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Lerer Hippeau raises $200 million for latest VC fund

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