The Third Degree

Q&A with Eric Hippeau: Lerer Ventures’ New $36 M. Fund and the ‘Golden Age’ for NYC Entrepreneurs

Mr. Hippeau (Photo: Twitter)

Earlier today, Lerer Ventures revealed that the early stage investment firm–a powerful, active force in growing New York’s startup ecosystem–has raised its biggest fund yet. While raw SEC filings first indicated that Lerer Ventures was raising $30 million, the deal closed at $36 million. That’s more than $64 million combined in less than two years.

Partners Ken Lerer, Ben Lerer, Eric Hippeau, and Jordan Cooper have backed some of the most high-profile companies from New York’s new class of tech startups, like Warby Parker, MakerBot, OnSwipe, and Birchbox. Lerer Ventures has also had a number of notable exits, like GroupMe (acquired by Skype), Mr. Cooper’s startup HyperPublic (acquired by Groupon), and Venmo (acquired by Braintree). In fact, the Huffington Post mafiosos–Ken Lerer and Mr. Hippeau are both veterans–have been so busy building “the largest infrastructure in New York for entrepreneurs” that they apparently haven’t had time to move Venmo into the “Exits” list on the firm’s website.

Betabeat spoke to Mr. Hippeau this afternoon after his firm’s new fund and why we’re in “the golden age for entrepreneurs in New York.” Read More

Acqui-hires

Newsweek Daily Beast CEO Departs for Lerer Ventures

Formerly of. (Photo: FontShop

Newsweek Daily Beast CEO Stephen Colvin has decamped from his publishing bastion to take a gig as executive-in-residence at Lerer Ventures. As VC titles go it’s one of the less well-defined, but an announcement from the firm offered a little detail, saying that Mr. Colvin will offer “strategic input” to the tech startups in the Lerer Ventures’ stable.

Hey, we can think of one startup in particular that might be able to use Mr. Colvin’s know-how–NowThis News, the viral video network currently being cooked up downtown. Read More