DFX Intelligence
Lerer Hippeau Select Fund IV, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
Active deploymentClosed to new capitalADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
2 additional principals, 3 additional placement agents
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- -11%reported GAV
Reported gross assets fell from $83.7M to $74.6M between the Form ADV filings of 29 Mar 2024 and 31 Mar 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2022basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- $86.0Mwhat may be sold, not what was raised; file 021-428907, sworn by the adviser or filed under this vehicle
- Form D sold
- $86.0Mas of the filing of Sep 30, 2022, 90 investors
- First sale
- Jan 12, 2022
- Reported GAV
- $74.6Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 90
- Reported on ADV
- Mar 31, 2022 to Mar 31, 2026
Fundraising evidence
What counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.Closed to new capital
Form D filed or amended 2022-09-30: the stated $86.0M offering reported fully sold (fr-1)
evidence dated Sep 30, 2022.
Lifecycle
Active deployment
Lifecycle
vintage 2 to 4 years
age years: 4first sale: Jan 12, 2022vintage year: 2022adv gav as of: Mar 31, 2026vintage basis: Form d first saleform d sold: $86.0Mform d offering: $86.0Mform d latest filed at: Sep 30, 2022
The fund's own reporting through time
5 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2022 | Venture Capital Fund | $68.7M | 70 | $50,000 | 2% | no | |
| Mar 31, 2023 | Venture Capital Fund | $84.1M | 90 | $20,000 | 2% | yes | |
| Sep 8, 2023 | Venture Capital Fund | $84.1M | 90 | $20,000 | 2% | yes | |
| Mar 29, 2024 | Venture Capital Fund | $83.7M | 90 | $20,000 | 2% | yes | |
| Mar 31, 2026 | Venture Capital Fund | $74.6M | 90 | $20,000 | 2% |
Principals and agents
5 principals on Form D, 0 placement agents
- Lerer Hippeau Ventures Management, LLC Promoter
- Kenneth Lerer Director
- Benjamin Lerer Director
Service providers
6 named on Form ADV Schedule D and Form D
- AuditorBDO · PHILADELPHIA, Pennsylvania, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- AdministratorADURO ADVISORS, LLC · DENVER, Colorado, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- CustodianCarta · SALT LAKE CITY, Utah, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performance
Whose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).0 public LP reports
No public LP has reported this vehicle. The LP tape is read from public pension disclosures (see Limited partners); a fund appears here only when an LP’s report names it.
Known LPs and allocators
What these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| Peter G Peterson Foundation | FOUNDATION | $709,532 fair value on the foundation's return | reported as of Mar 31, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
3 events
- Sep 30, 2022Lerer Hippeau Select Fund IV, LP filed Form D/A: $85,963,450 sold of $85,963,450, Venture Capital FundForm D filed Fact Form D
- Mar 31, 2022Lerer Hippeau Select Fund IV, LP first reported on Form ADV by Lerer Hippeau Ventures Management, LLC (Venture Capital Fund), GAV $68,722,500Fund first reported on Form ADV Fact Form ADV
- Jan 11, 2022Lerer Hippeau Select Fund IV, LP filed Form D: no sales yet of $100,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Sep 30, 2022 Fact Form D
- Entity type: Limited Partnership Jan 11, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Sep 30, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Jan 11, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Sep 30, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 11, 2022 Fact Form D
- Amendment: true Sep 30, 2022 Fact Form D
- Amendment: false Jan 11, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Sep 30, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Jan 11, 2022 Fact Form D
- Incorporated: withinFiveYears Sep 30, 2022 Fact Form D
- Incorporated: withinFiveYears Jan 11, 2022 Fact Form D
- Jurisdiction: Delaware Sep 30, 2022 Fact Form D
- Jurisdiction: Delaware Jan 11, 2022 Fact Form D
- Amount sold (Form D): $86.0M Sep 30, 2022 Fact Form D
- Amount sold (Form D): $0 Jan 11, 2022 Fact Form D
- Offering amount (Form D): $86.0M Sep 30, 2022 Fact Form D
- Offering amount (Form D): $100M Jan 11, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Sep 30, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 11, 2022 Fact Form D
- First sale: 2022-01-12 Sep 30, 2022 Fact Form D
- Investors (Form D): 90 Sep 30, 2022 Fact Form D
- Investors (Form D): 0 Jan 11, 2022 Fact Form D
- Minimum investment (Form D): 0 Sep 30, 2022 Fact Form D
- Minimum investment (Form D): 0 Jan 11, 2022 Fact Form D
- Securities offered: pooled Sep 30, 2022 Fact Form D
- Securities offered: pooled Jan 11, 2022 Fact Form D
- Office address: Sep 30, 2022 Fact Form D
- Office address: Jan 11, 2022 Fact Form D
- Year of incorporation: 2021 Sep 30, 2022 Fact Form D
- Year of incorporation: 2021 Jan 11, 2022 Fact Form D
Relationships across DFX
on 3 other DFX graphs
Across the graphs
Lerer Hippeau Select Fund IV, LP is the same institution as 3 records in Allocators, RIA and Wealth and Family Offices.
Allocators1RIA and Wealth1Family Offices1
DFX found 3 relationships across 3 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Record history
3 dated events on the change ledger, latest event first
- Form D filed2022-09-30source on record
- Fund first reported on ADV2022-03-31source on record
- Form D filed2022-01-11source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.