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	<title>Betabeat &#187; Lerer Ventures Is Raising $30 M. for Its Third Seed-Stage VC Fund in Two Years</title>
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		<title>Betabeat &#187; Lerer Ventures Is Raising $30 M. for Its Third Seed-Stage VC Fund in Two Years</title>
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		<title>Lerer Ventures Is Raising $30 M. for Its Third Seed-Stage VC Fund in Two Years</title>

		<comments>http://betabeat.com/2012/09/lerer-ventures-is-raising-30-million-third-seed-stage-fund/#comments</comments>
		<pubDate>Fri, 14 Sep 2012 10:30:59 -0400</pubDate>
					<link>http://betabeat.com/2012/09/lerer-ventures-is-raising-30-million-third-seed-stage-fund/</link>
			<dc:creator>Nitasha Tiku</dc:creator>
				
		<guid isPermaLink="false">http://betabeat.com/?p=62406</guid>
		<description><![CDATA[<p><div id="attachment_62449" class="wp-caption alignleft" style="width: 310px"><a href="http://betabeat.com/2011/10/welcome-to-the-pitch/"><img class="size-medium wp-image-62449 " title="Lerer Ventures" src="http://nyobetabeat.files.wordpress.com/2012/09/screen-shot-2012-09-14-at-10-00-33-am.png?w=300" alt="" width="300" height="171" /></a><p class="wp-caption-text">Jordan Cooper, left, and Ben Lerer (Photo: via The Pitch)</p></div></p>
<p>Roughly a year-and-a-half after closing its second $25 million seed stage fund, Lerer Ventures is in the processing of raising money for a third. An <a href="http://www.sec.gov/Archives/edgar/data/1556795/000155678912000001/xslFormDX01/primary_doc.xml">SEC filing</a>, first noted by <a href="http://techcrunch.com/2012/09/13/nycs-lerer-ventures-closes-30m-third-fund-for-early-stage-investments/">TechCrunch</a>, says the size of the round is $30 million.</p>
<p>Although the <a href="http://www.sec.gov/Archives/edgar/data/1556795/000155678912000001/xslFormDX01/primary_doc.xml">Form D</a> indicates that the early-stage venture capital firm has yet to sell, expect the round to close quickly.</p>
<p>Last May, it only took Lerer Ventures "a matter of weeks" to raise that $25 million from <a href="http://blogs.wsj.com/venturecapital/2011/05/26/lerer-ventures-collects-25m-in-a-new-york-minute/">individuals and family offices</a>. And that was <em>before </em>the highly-regarded New York City firm--launched by Huffington Post cofounder (and Betaworks and Buzzfeed chairman) <strong>Ken Lerer</strong> and his son <strong>Ben Lerer</strong>, cofounder of Thrillist--boasted a handful of exits. <!--more--></p>
<p>Indeed, Lerer Ventures, whose team also includes partners<strong> Jordan Cooper</strong> and <strong>Eric Hippeau</strong> as well as advisors <strong>Jonah Peretti</strong> and  <strong>Christopher Poole</strong>, aka Moot, has been humming along since last August when portfolio company GroupMe*, a group messaging service, was <a href="http://betabeat.com/2011/08/groupme-acquired-by-skype-for-more-than-50-million/">acquired by Skype</a> for $41 million.</p>
<p>In February, Groupon purchased Mr. Cooper's startup Hyperpublic-- an open database of location-based info on people, places, and things--which was funded by Lerer Ventures. This March, <a href="http://techcrunch.com/2012/03/15/aol-snaps-up-hyper-local-photosharing-app-hipster/">AOL purchased</a> the photo sharing app Hipster. In July, Airbnb acqui-hired DailyBooth, the startup that lets you share webcam photos. And last month, Venmo, the mobile payments startup, was acquired by Braintree for <a href="http://betabeat.com/2012/08/venmo-acquired-by-braintree-andrew-kortina-accel/">$26.2 million</a>.</p>
<p>Thrive Capital*, helmed by Josh Kushner, also recently a new $150 million fund after a number of exits, including GroupMe.</p>
<p>SEC regulations prohibit discussing private placements while fundraising is still in progress, but we will update you when we know more. In the meantime, please enjoy the odd couple stylings of Mr. Lerer and Mr. Cooper, courtesy of Betabeat's 2011 web series, <a href="http://betabeat.com/2011/10/welcome-to-the-pitch/">The Pitch</a>.</p>
<p><div class='embed-vimeo' style='text-align:center;'><iframe src='http://player.vimeo.com/video/30343913' width='600' height='338' frameborder='0'></iframe></div></p>
<p><a href="http://vimeo.com/30343913">The Pitch, Episode 1</a> from <a href="http://vimeo.com/spinks">Spinks</a> on <a href="http://vimeo.com">Vimeo</a>.</p>
<p>*<em><a href="http://betabeat.com/disclosure/">Disclosure</a></em></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_62449" class="wp-caption alignleft" style="width: 310px"><a href="http://betabeat.com/2011/10/welcome-to-the-pitch/"><img class="size-medium wp-image-62449 " title="Lerer Ventures" src="http://nyobetabeat.files.wordpress.com/2012/09/screen-shot-2012-09-14-at-10-00-33-am.png?w=300" alt="" width="300" height="171" /></a><p class="wp-caption-text">Jordan Cooper, left, and Ben Lerer (Photo: via The Pitch)</p></div></p>
<p>Roughly a year-and-a-half after closing its second $25 million seed stage fund, Lerer Ventures is in the processing of raising money for a third. An <a href="http://www.sec.gov/Archives/edgar/data/1556795/000155678912000001/xslFormDX01/primary_doc.xml">SEC filing</a>, first noted by <a href="http://techcrunch.com/2012/09/13/nycs-lerer-ventures-closes-30m-third-fund-for-early-stage-investments/">TechCrunch</a>, says the size of the round is $30 million.</p>
<p>Although the <a href="http://www.sec.gov/Archives/edgar/data/1556795/000155678912000001/xslFormDX01/primary_doc.xml">Form D</a> indicates that the early-stage venture capital firm has yet to sell, expect the round to close quickly.</p>
<p>Last May, it only took Lerer Ventures "a matter of weeks" to raise that $25 million from <a href="http://blogs.wsj.com/venturecapital/2011/05/26/lerer-ventures-collects-25m-in-a-new-york-minute/">individuals and family offices</a>. And that was <em>before </em>the highly-regarded New York City firm--launched by Huffington Post cofounder (and Betaworks and Buzzfeed chairman) <strong>Ken Lerer</strong> and his son <strong>Ben Lerer</strong>, cofounder of Thrillist--boasted a handful of exits. <!--more--></p>
<p>Indeed, Lerer Ventures, whose team also includes partners<strong> Jordan Cooper</strong> and <strong>Eric Hippeau</strong> as well as advisors <strong>Jonah Peretti</strong> and  <strong>Christopher Poole</strong>, aka Moot, has been humming along since last August when portfolio company GroupMe*, a group messaging service, was <a href="http://betabeat.com/2011/08/groupme-acquired-by-skype-for-more-than-50-million/">acquired by Skype</a> for $41 million.</p>
<p>In February, Groupon purchased Mr. Cooper's startup Hyperpublic-- an open database of location-based info on people, places, and things--which was funded by Lerer Ventures. This March, <a href="http://techcrunch.com/2012/03/15/aol-snaps-up-hyper-local-photosharing-app-hipster/">AOL purchased</a> the photo sharing app Hipster. In July, Airbnb acqui-hired DailyBooth, the startup that lets you share webcam photos. And last month, Venmo, the mobile payments startup, was acquired by Braintree for <a href="http://betabeat.com/2012/08/venmo-acquired-by-braintree-andrew-kortina-accel/">$26.2 million</a>.</p>
<p>Thrive Capital*, helmed by Josh Kushner, also recently a new $150 million fund after a number of exits, including GroupMe.</p>
<p>SEC regulations prohibit discussing private placements while fundraising is still in progress, but we will update you when we know more. In the meantime, please enjoy the odd couple stylings of Mr. Lerer and Mr. Cooper, courtesy of Betabeat's 2011 web series, <a href="http://betabeat.com/2011/10/welcome-to-the-pitch/">The Pitch</a>.</p>
<p><div class='embed-vimeo' style='text-align:center;'><iframe src='http://player.vimeo.com/video/30343913' width='600' height='338' frameborder='0'></iframe></div></p>
<p><a href="http://vimeo.com/30343913">The Pitch, Episode 1</a> from <a href="http://vimeo.com/spinks">Spinks</a> on <a href="http://vimeo.com">Vimeo</a>.</p>
<p>*<em><a href="http://betabeat.com/disclosure/">Disclosure</a></em></p>
]]></content:encoded>
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