Harlem Capital is raising a $150 million fund, according to 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 Oversubscription $134 millionmuch more than the $40 million raised for its inaugural fund in 2019.
The firm was founded in 2015 with the objective of supporting diverse founders. Its second fund focused on early-stage post-product companies across all sectors, but with a particular focus on enterprise and consumer technology. The company 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 also focused on raising funding from diverse limited partners for its second fund, and it’s safe to assume that mission will continue as long 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 Black Lives Matter, when the industry declared itself committed to supporting historically marginalized groups and flooded money into those communities. Harlem Capital’s third fund seeks to raise money in a very different environment, where the Reaction to diversity and inclusion. has taken root in industries across the United States.
The successful raising of this $150 million fund will not only be a testament to 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 underrepresented communities.