US early-stage investment firm Lerer Ventures has held a $62m final close for its fourth fund.
The New York-based firm was targeting $50m for Lerer Hippeau Ventures IV according to an April filing with the US securities regulator.
Cendana Capital founder Michael Kim let slip at a conference last week that Lerer was planning to close the vehicle on $60m.
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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