Lerer Hippeau announced a combined $230 million close for two funds on September 20, 2022: LH Seed VIII for pre-seed and seed companies, and LH Select IV for Series A through C companies. The $230 million was the total across both funds; the firm did not disclose the individual size of either fund in the sources cited here.
How LH Seed VIII and LH Select IV differ
The funds covered different stages of startup financing. Seed VIII focused on earlier companies, while Select IV was built to invest later, including in companies already backed by Lerer Hippeau.
| Fund | Stage | Role described | Deployment detail reported in 2022 | Individual fund size |
|---|---|---|---|---|
| LH Seed VIII | Pre-seed and seed | The firm said it could lead rounds and often make a startup’s first institutional investment. | TechCrunch reported that the firm planned about 40 to 45 investments; that was a target, not a final count. | Not stated in the firm announcement or the Cooley notice. |
| LH Select IV | Series A to C | Designed for follow-on investments in portfolio companies and selected opportunities beyond the firm’s seed portfolio. | Follow-ons to breakout seed investments, as well as selected Series A companies the firm had followed. | Not stated in the firm announcement or the Cooley notice. |
The two vehicles reflect a seed-first model with a separate pool for later-stage investment. Lerer Hippeau’s September 20, 2022 announcement described Seed VIII’s early-stage remit; TechCrunch’s September 2022 interview outlined the Select strategy and the planned Seed VIII investment count.
What the $230 million figure means
The $230 million was the combined capital announced for LH Seed VIII and LH Select IV, not the disclosed size of each fund. Neither the firm’s announcement nor Cooley’s September 2022 notice provided a fund-by-fund allocation. It is therefore not possible from those reports to say how much was available to Seed VIII versus Select IV.
Quick wins for a faster PC:
Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →#1 Best Overall
What Lerer Hippeau said about its strategy in 2022
In the 2022 TechCrunch interview, managing partner Eric Hippeau said: “Consistency is the key for us. We don’t want to follow the ups and downs. We just want to continue with a persistent, consistent strategy.” The comment describes his stated approach at that time, not a guarantee of investment results.
The firm’s announcement characterized its investment focus this way: “Since 2010, Lerer Hippeau has invested in creative entrepreneurs who embody New York’s audacity, endurance, and winning mindset — no matter where they live.” That is the firm’s own positioning. TechCrunch reported in 2022 that its portfolio had expanded beyond early consumer businesses into areas including B2B enterprise software, marketplaces, and robotics automation; the partners described its investments as balanced between consumer and enterprise at that time. Those descriptions are historical, not a current portfolio breakdown.
What happened after the 2022 close
The $230 million close is historical, not Lerer Hippeau’s latest fundraising news. Axios reported in April 2025 that the firm had raised a $200 million ninth flagship fund. Axios also said Select IV was about one-third committed at the time of that report; that is a dated estimate, not a statement of its present commitment or remaining capital.
TechCrunch reported in September 2022 that Lerer Hippeau had invested in 400 portfolio companies since its 2010 founding. That dated figure is not an audited current total; a separate 2022 Cooley notice used the differently worded figure “more than 350 companies.”
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsWhat the public figures do—and do not—show
Fund size and a planned investment count do not establish investment performance. The cited reports do not provide audited returns, the final number of investments made by Seed VIII, or current deployment and remaining-capital figures for either 2022 fund. The useful distinction is the intended stage and role of each vehicle, not an inference about returns.
Quick Recap
Best Value
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
