The sources claim that Harlem Capital is making efforts to raise $150 million for the company. The new fund will be the largest investment for the organization. Much more than the $40 million it raised for its first fund in 2019, Harlem Capital raised an oversubscribed $134 million in 2021.
In 2015, the company was founded to support different creators. Its second fund was mostly concentrated on consumer and enterprise tech, but it also included early-stage post-product startups from other industries. The company presently manages $174 million in assets and has made over 80 investments with 12 exits since it was established. Propense.ai, the fintech Poolit and the e-commerce site Gander are among the investments.
For its second fund, Harlem Capital similarly concentrated on raising money from diverse limited partners. It’s reasonable to believe that goal will continue as long as the company stays loyal to its goal of helping diverse entrepreneurs.
It should be mentioned that following the outrage surrounding Black Lives Matter, when the business community committed to stand by historically marginalized populations and invested money into those communities, the company’s oversubscribed Fund 2 was launched. The third fund from Harlem Capital aims to raise capital in a completely different context—one in which resistance to diversity and inclusion has become established in American companies.
The successful financing of the $150 million fund will show the industry’s ongoing desire to help and believe in bright, underprivileged populations, in addition to being a symbol of success for Harlem Capital and its founders.
