Harlem Capital is aiming to raise a $150 million fund, per documents filed with the SEC.
If successful, this will be Harlem Capital’s third and largest fund to date. In 2021, the firm raised an oversubscribed $134 million, surpassing the $40 million collected for its inaugural fund in 2019.
Founded in 2015 aimed at supporting diverse founders, Harlem Capital’s second fund focused on early-stage post-product companies across various sectors, particularly consumer and enterprise tech. With $174 million in assets under management, according to Pitchbook, the firm has made over 80 investments and achieved 12 exits since its inception. Their portfolio includes Propense.ai, fintech company Poolit, and e-commerce platform Gander.
Harlem Capital did not immediately respond to our request for comment.
For its second fund, Harlem Capital also emphasized raising from diverse limited partners, a goal likely to continue as they remain committed to their mission of fostering the next generation of diverse founders.
It’s noteworthy that Harlem Capital’s oversubscribed Fund 2 was raised during the Black Lives Matter movement when much of the industry pledged to support historically marginalized groups. However, Harlem Capital’s third fund is being raised in a different environment where there is a backlash against diversity and inclusion in various American industries.
Securing the $150 million fund will not only mark a milestone for Harlem Capital and its founders but also demonstrate the industry’s ongoing commitment to investing in talented, underrepresented communities.
