US early-stage investment firm Lerer Ventures is reportedly set to close its latest fund on $60m following a swift fundraise.
The New York-based firm was targeting $50m for Lerer Hippeau Ventures IV according to an April filing with the US securities regulator, but plans to close above that according to VCJ, which cited venture fund of funds Cendana Capital’s founder Michael Kim, pictured.
It said Kim let the information slip at last week’s Venture Capital Investing Conference in San Francisco, although panel member and Lerer managing director Eric Hippeau would not confirm the news.
Lerer, which focuses on seed-stage investments, closed its previous fund on $36m in October 2012, only 16 months after raising $25m for its second vehicle.
The firm’s portfolio companies include US email marketing startup LiveIntent and content marketing platform Percolate, which recently secured $24m in a funding round led by Sequoia Capital.
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