Eric Hippeau is stepping down as CEO of Huffington Post following yesterday’s mega merger with Aol. But’s he’s not wasting any time diving back into business, joining on with HuffPo founder Ken Lerer as a general partner at Lerer Ventures.
This is a return to form for Hippeau, who worked as a VC for Softbank Capital, landing legendary early investments in companies like Yahoo.
According to Kara Swisher at All Things D, the addition of Hippeau as a general partner has Lerer Ventures considering a $50 million later stage fund to complement the $8.5 million seed fund they are still deploying from last year.
“I am really glad to be getting back into investing, since the New York area is especially vibrant at the moment,” said Hippeau. “And we are really determined to look at changing the way funds are organized.”
The firm will run on a mix of youth and experience, with a dynamic duo now tipping the scales on both sides. ““Ben [Lerer] and Jordan [Cooper] are especially plugged into the New York scene–these start-ups were created by their friends,” Ken Lerer told Swisher. “And Eric and I bring a different skill set and perspective on top of that.”
Considering the return Lerer and Hippeau just saw on the sale of HuffPo, it’s no wonder ther’re bullish on the NY tech scene.
bpopper [at] observer.com | @benpopper