Union Square Ventures & Lerer Hippeau on the role of VC platforms
How VC Platform teams can make all the difference in the success of your startup - plus 4 upcoming events
We recently had a chance to interview Lauren Young from Union Square Ventures (USV) and Stephanie Manning from Lerer Hippeau (LH) to discuss the evolving role of platform teams within venture capital firms, particularly in the context of supporting early-stage startups. Both USV and LH are powerhouse VC firms in the New York ecosystem with a track record of investing in and supporting early stage startups. Here’s what they had to say - and check out the full video interview at the end of the post.
What is Platform?
Platform teams in venture capital go beyond just writing checks—they help founders with things like operations, marketing, hiring and connecting with other resources from around the firm’s network. USV’s approach has shifted over time; instead of trying to do everything, USV now focuses on using its network to provide targeted help. As a one-person team, Lauren connects founders to the right experts at the right time, making sure they aren’t overwhelmed. LH has a slightly larger team with a similar approach, guiding founders through key moments like fundraising announcements or critical steps like developing go-to-market plans.
Using Networks
Both firms make the most of their networks. LH’s portfolio includes over 400 companies, giving founders access to a large community of operators and potential customers. Recently, the firm organized a dinner between a startup and potential clients, helping the company get valuable feedback. At USV, the firm connects founders to experts in their network to tackle specific challenges more efficiently.
Supporting Founders Without Micromanaging
Both USV and LH are big on giving founders the space to run their own companies, stepping in when needed but not micromanaging. LH’s philosophy is about empowering founders without adding extra work to their plates. "We invest in founders to run their companies," Stephanie explained. Lauren echoed this sentiment at USV, adding that good investors should be there to help, not create unnecessary tasks.
How can non-portfolio founders interact with platform teams?
USV recently launched "Overheard at USV," a weekly Twitter thread that shares insights from the team’s discussions on market trends, giving outsiders a peak into how the USV team thinks and operates. LH engages through events and deeper community engagement, especially in emerging sectors like biohacking and education.
Adding value as investors
USV and LH are all about offering smart, network-driven support to help early-stage founders succeed—without placing extra burden on them. This approach ensures founders are fully in the driver seat - with platform resources at the ready whenever they need them.
Watch the full video interview
Upcoming Lynx events that might interest you
Startup Fundraising Summit (Oct 15)
Kickstart Your Fall Fundraise with the Startup Fundraising Summit!
The fall fundraising season is heating up, and this summit is designed to give Founders the opportunity to meet and learn from Investors. You'll hear from Jesse Middleton, Partner at Flybridge Capital about securing your lead investor and a panel of diverse investors about filling out your round. Afterwards we'll hold a networking reception with investors to meet and connect with.
Who should attend: Founders who are currently fundraising.
The Agenda
3:30 pm - Check-in and Founder networking
4:00 pm - Inside:Flybridge Capital with Jesse Middleton: Securing a Lead Investor
4:45 pm - Preparing for your Capital Raise with Colin Kirby, Foley Hoag
5:00pm - Investor Perspectives: Panel discussion with Angel investor, Family Office investors, Micro-Funds and Others
6-8pm - Investor/Founder networking reception
Reverse VC Pitch Night (Oct 3)
Join us for a one-of-a-kind event where venture capitalists turn the tables and pitch their startup ideas to founders! Hear directly from top investors as they each take 5-7 minutes to present the business opportunities and sectors they're eager to back.
Speakers include:
Tower Research: Neel Baronia /Andrew McKinzie
Green Bay Ventures: Anton Ermolov
Bain Capital Ventures: Parth Chopra
H/L Ventures: Prad Parthiban
Discover the areas where they see the most potential and why they believe now is the perfect time for founders to start building in these spaces.
Who should attend: Founders and aspiring founders exploring startup ideas / going through the idea maze
Founder dinner - with The Talent Management Collective
We are excited to host a Founder dinner with special guests Dan Fisher of The Talent Management Collective (TMC) and TMC member Renee Vieira, Head of Organizational Effectiveness at Justworks. TMC is a renowned network of talent management leaders from some of the world’s top companies. This intimate dinner offers a unique opportunity to engage with these experts, gain valuable insights on scaling your business, and explore best practices for managing a dynamic, high-growth company.
Who should attend: Founders who are scaling their teams and are interested in learning from talent executives
Inside: Nyca Partners with Jasleen Kaur
Nyca Partners is a venture capital firm connecting innovative companies to the global financial system. Nyca was founded in 2014 with an exclusive focus on fintech and has invested in 100 companies across payments, capital formation, digital advice, financial infrastructure, and other areas.
In this talk, we'll hear from Nyca Investor Jasleen Kaur, who leads investments at the fund in companies focused on Wealthtech, Capital Markets, and Commerce Enablement.
Who should attend: Founders who are building in fintech