Hello to all my tech enthusiasts and startup followers! Today, we bring you some exciting news from the vibrant world of New York startups.

Recently, Lerer Hippeau, a prominent venture capital seed fund based in New York, has announced that it has successfully closed its ninth fund, securing a whopping $200 million. This marks a significant increase from their previous fund, which closed at $140 million.

This latest venture brings Lerer Hippeau’s total assets under management to an impressive $1.4 billion. Since the firm was established in 2010, it has provided early-stage funding to numerous well-known startups that have either gone public or been acquired. Some of the notable names include Allbirds, Axios, and Warby Parker.

The firm has a familial touch as well; Andrea Hippeau, who is the daughter of co-founder Eric Hippeau, is actively working as a partner, while Ben Lerer, another co-founder, is the son of Ken Lerer, the managing partner emeritus.

The venture capital scene in New York continues to flourish. Earlier this year, Insigh Partners, another powerhouse, raised $12.5 billion, and Thrive Capital managed to gather $5 billion in August 2024. While these firms extend their investments beyond New York, they undoubtedly strengthen the startup ecosystem in the city.