Harlem Capital announced the closing of Harlem Capital Partners Venture Fund I, LP at $40.3 million.
Harlem Capital was founded by Managing Partners Henri Pierre-Jacques and Jarrid Tingle in December 2015 in a Harlem living room. The co-founders first met through the Management Leadership for Tomorrow program in 2011 and worked together at ICV Partners, along with Venture Partner Brandon Bryant. After launching Harlem’s first incubator, Cofound Harlem, John Henry joined Harlem Capital in early 2017 as a venture partner. The firm invested in six companies as angels and Fund I was launched in June 2018.
“We are grateful for the incredible support from our LPs and broader network that enabled a successful closing. Harlem Capital is now well-positioned to back women and minority entrepreneurs with meaningful investments and follow-on capital,” said Tingle, Managing Partner of Harlem Capital.
Fund I has 55 limited partners (“LPs”), including TPG, State of Michigan Retirement Systems, Vanderbilt University, the Harry and Jeanette Weinberg Foundation, W.K. Kellogg Foundation, Consumer Technology Association, and Dorm Room Fund. 15 of Harlem Capital’s LPs are general partners of other funds and 50% of Harlem Capital’s individual LPs are women or people of color, which is in line with the firm’s directive of investing in women and minority entrepreneurs.
Fund I has already made eight investments to date, including Jobble, a marketplace for the gig economy; Wagmo, a pet wellness platform; and Aunt Flow, a B2B feminine hygiene products company. The fund expects to invest in 30 companies.
“This closing is a huge accomplishment for us, but also just the beginning of a long mission to change the face of entrepreneurship. The fundraising process was truly humbling and enabled us access to so many incredible people. Thank you to all that made this first step possible,” said Pierre-Jacques, managing partner of Harlem Capital.
The company and its leadership have been recognized on the Forbes 30 Under 30, Inc. 30 Under 30, The Root 100, and EBONY Power 100 lists.
Harlem Capital Partners (HCP) is a New York-based early-stage venture capital firm on a mission to change the face of entrepreneurship by investing in 1,000 diverse founders over the next 20 years. HCP makes investments of $250k to $1mm in Seed and Series A rounds. The focus is on investing in minority and women founders in the United States.
HCP partners with entrepreneurs who have revenue-generating tech-enabled products or services that can leverage financial, marketing and operational experiences to implement key processes to go from selling products to running a sustainable business.