Diversity-focused Harlem Capital raises $134M
Harlem Capital, a diversity-focused venture capital firm, announced that it has raised $134 million for its second fund – well above its target of $100 million and its initial capital of $125 million.
Harlem Capital was founded in 2015 by managing partners Henri Pierre-Jacques and Jarrid Tingle with a mission “to fundamentally change the face of entrepreneurship”.
The firm aims to invest in 1,000 diverse founders over the next 20 years. Established as an angel syndicate, Harlem Capital closed its $40 million inaugural fund in November 2019 and now manages $174 million in assets under management.
Harlem Capital Partners Venture Fund I (“Fund I”) has invested in 23 companies – including e-commerce platforms, Pangaea, CashDrop, Malomo and Repeat, and wellness brands, Wellory, Expectful, Wagmo and Shine.
Apparently 61% of Harlem Capital’s Fund I portfolio companies are led by Black or Latinx executives, while 43% are led exclusively by women.
“We are focused on building an institution and platform to support diverse founders for many generations,” said Henri Pierre-Jacques in a statement. “Fund II is one step closer to our mission, but we know the work and journey continues. We are excited to provide more capital and resources to even more diverse founders tackling unique problems.”
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