, the downtown-based company that develops and supports entrepreneurialism in Cincinnati, has announced that its newest investment is New York City-based Lerer Hippeau Ventures IV
(LHV), a top tier venture capital fund, to increase seed and early stage venture leadership in Cincinnati.
With more than $130 million under management, Lerer Hippeau invests in the earliest stages of a startup’s life—a complementary strategy for the growing startup ecysystem in Cincinnati and a piece of the puzzle that Cintrifuse saw as a crucial addition.
“Seed stage investment is very important here in Cincinnati,” says Tim Schigel, Cintrifuse fund manager. “CincyTech
and Queen City Angels
are doing a great job, but we need more. Lerer is a great firm and very compatible with our region.”
LHV is widely viewed as one of the top firms in NYC with investments in such companies as Buzzfeed
Media Group and nearly 200 others. With this specialization in digital media and publishing, particularly in the tech world, Cintrifuse is betting that this will continue to bring attention and, more important, investment to the Cincinnati region.
“Since our founding four years ago, we’ve been focused primarily on fueling the New York and West Coast tech scenes,” says Eric Hippeau, managaing director at LHV and former CEO of the Huffington Post. “With our fourth fund, we’re looking forward to selectively seeking investment opportunities outside these regions. Cincinnati is particularly interesting with a great deal of startup growth potential, and we are extremely excited to be partnering with Cintrifuse, which sits at the center of innovation in the city.”
Schigel is excited for what this means for the city, and while it is not yet certain how this specific relationship will play out, he is optimistic for the future.
“It’s a marathon, not a sprint,” Schigel sats. “We could go for two years without anything happening, but the good thing is that it is already happening. There are already investments imminent. The question is, how does it continue and at what kind of pace. We’re building relationships and multiple touch points for those venture firms within the community and will continue to build resources and connections for our entrepreneurs.”