Lerer Hippeau raises $122m

The New York-based venture firm will continue strategy of backing early-stage tech startups.

New York-based Lerer Hippeau collected $122 million for its sixth flagship fund, surpassing its initial target size of $100 million after just four months on the road.

Lerer Hippeau Ventures VI will continue the venture capital firm’s strategy of investing in early- and seed-stage tech companies. The firm, previously known as Lerer Hippeau Ventures or LHV, is also concurrently raising a $50 million vehicle, Lerer Hippeau Select II.

The predecessor vehicle in the series, Lerer Hippeau Ventures V, closed on $113 million in November 2015.