Harlem Capital is elevating a $150 million fund, in response to paperwork filed with the SEC.
If raised, this new fund, the agency’s third, can be its largest thus far. In 2021, Harlem Capital raised an oversubscribed $134 million, rather more than the $40 million it raised for its inaugural fund in 2019.
The agency was based in 2015 with the aim of backing various founders. Its second fund targeted on early-stage post-product corporations from all sectors however with a selected deal with client and enterprise tech. The agency presently has $174 million in property beneath administration, in response to Pitchbook, and has made greater than 80 investments since its inception, with 12 exits. Investments embody Propense.ai, the fintech Poolit, and the e-commerce platform Gander.
Harlem Capital didn’t instantly reply to our request for remark.
Harlem Capital additionally targeted on elevating from various restricted companions for its second fund, and it’s protected to imagine that mission will proceed because the agency stays true to its mission of supporting the subsequent technology of various founders.
It must also be famous that Harlem Capital’s oversubscribed Fund 2 got here after the warmth of Black Lives Matter when the business declared itself dedicated to supporting traditionally marginalized teams and flooded cash into these communities. Harlem Capital’s third fund seeks to lift cash in a really completely different atmosphere, the place the backlash to variety and inclusion has taken root in industries throughout America.
The profitable elevating of this $150 million fund shall be not solely a present of success for Harlem Capital and its founders but in addition a testomony to the business’s urge for food for nonetheless believing in and backing gifted, underrepresented communities.
