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Seed investment firm Lerer Hippeau Ventures<\/a> is planning to write more later-stage checks, thanks to a new $28 million fund that it\u2019s calling LHV Select.<\/p>\n \u201cSince the very beginning, going back to 2010, we\u2019ve always had the same strategy,\u201d said Managing Partner Eric Hippeau \u2014 a strategy that\u2019s focused on making seed investments in New York startups. (The firm has invested in more than 300 companies, including\u00a0BuzzFeed, Casper and Warby Parker, with the majority of them based in New York City.)<\/p>\n The firm sets part of each fund aside so that it can participate as those startups raise additional funding, but Hippeau said that after the Series A, \u201cWe kind of run out of money to support the companies.\u201d<\/p>\n LHV Select is supposed to address that, allowing the firm to remain involved in those later stage deals. Hippeau said the \u201csweet spot\u201d for the fund will be checks of $2 million or $3 million (though some of them may be a little larger or smaller).<\/p>\n The fact that Lerer Hippeau was raising the follow-on fund was first revealed earlier this year<\/a> through a regulatory filing. The firm raised its most recent seed fund\u00a0back in 2015<\/a> \u2014 in fact, that $113 million fund is much larger than LHV Select.<\/p>\n Hippeau explained that this LHV Select was kept \u201crelatively small\u201d so that the two funds could eventually be \u201csynced up\u201d: \u201cWe haven\u2019t decided when we\u2019ll raise the next [follow-on] fund, but it will coincide with the next Lerer Hippeau Ventures regular fund.\u201d<\/p>\n Principal Graham Brown will take charge of diligence and analysis for LHV Select, but Hippeau said the decisions will ultimately be made by the same investment team as the firm\u2019s seed deals.<\/p>\n \u201cEverybody participates,\u201d he said. \u201cWe really want there to be continuity.\u201d<\/p>\n He added that Lerer Hippeau has already made four investments from the new fund \u2014 but the rounds haven\u2019t been announced publicly yet.<\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2015\/04\/eric-hippeau.jpg?w=680\")
Seed investment firm Lerer Hippeau Ventures is planning to write more later-stage checks, thanks to a new $28 million fund that it’s calling LHV Select. “Since the very beginning, going back to 2010, we’ve always had the same strategy,” said Managing Partner Eric Hippeau — a strategy that’s focused on making seed investments in New York startups. (The firm… Read More<\/a><\/p>\n\n<\/img><\/a>
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