Harlem Capital raises $150 million fund, says documents filed with the SEC.
If raised, this new fund, the company's third, would be its largest to date. In 2021, Harlem Capital raised an oversubscribed amount $134 millionmuch more than the 40 million dollars it raised for its inaugural fund in 2019.
The company was founded in 2015 with the aim of support diverse founders. Its second fund focused on early-stage post-product companies across all sectors, but with a particular emphasis on consumer and enterprise technology. The firm currently has $174 million in assets under management, according to Pitchbook, and has made more than 80 investments since its inception, with 12 exits. Investments include Propense.ai, fintech Poolit and Gander e-commerce platform.
Harlem Capital did not immediately respond to our request for comment.
Harlem Capital has also focused on raising from diverse limited partners for its second fund, and it can be assumed that this mission will continue as the firm stays true to its mission of supporting the next generation of diverse founders.
It's also worth noting that Harlem Capital's oversubscribed Fund 2 came after the heat of the Black Lives Matter, when the industry declared itself committed to supporting historically marginalized groups and flooded these communities with money. Harlem Capital's third fund seeks to raise money in a very different environment, where the negative reaction to diversity and inclusion has taken root in industries across America.
The successful raising of this $150 million fund will not only be a demonstration of success for Harlem Capital and its founders, but also a testament to the industry's appetite to continue to believe in and support talented and underserved communities. represented.