At a time when venture capital is showing signs of drying up, a New York City firm was able to set a $225 million fund.
FirstMark Capital, founded by managing director Lawrence Lenihan, announced the fundraising on its Web site yesterday.
The fund, called FirstMark V, is the firm’s first since 2006, when it raised $200 million that seeded hot startups such as Riot Games, Pinterest and SecondMarket.
Riot Games was sold to Chinese firm Tencent earlier this year for $400 million.
The funding success comes just as much of the venture-capital industry expects investments to wane in 2012. Less than half of 500 VCs and startup CEOs surveyed expect investing to increase next year, according to an industry report yesterday.
FirstMark plans to use its new pool of money to fund early-stage startups and said it will continue to invest in the city’s tech scene.