According to Harlem Capital, a $150 million fund has been raised documents filed with the SEC.
If raised, the latest fund, the company’s third, could be the largest in its history. Harlem Capital raised $134 million in oversubscriptions in 2021, significantly greater than the $40 million raised for its inaugural fund in 2019.
The company was founded in 2015 to support diverse founders. The second fund focused on early-stage post-product corporations across all sectors, but with a particular focus on consumer and enterprise technology. According to Pitchbook, the company currently manages $174 million in assets and has made greater than 80 investments since its inception, including 12 exits. Investments include Propense.ai, fintech Poolit and e-commerce platform Gander.
Harlem Capital didn’t immediately reply to our request for comment.
Harlem Capital has also focused on raising money from diverse limited partners for its second fund, and it’s secure to assume that mission will proceed if the firm stays true to its mission of supporting the next generation of diverse founders.
It must also be noted that Harlem Capital’s oversubscribed Fund 2 got here on the heels of the heated Black Lives Matter broadcast, when the industry declared its commitment to supporting historically marginalized groups and flooded these communities with funding. Harlem Capital’s third fund is searching for to lift money in a very different environment, where opposition to diversity and inclusion has taken root in industries across America.
Successfully raising a $150 million fund is not going to only exhibit the success of Harlem Capital and its founders, but also exhibit the industry’s appetite to proceed supporting and empowering talented, underrepresented communities.