Harlem Capital has initiated the process of raising a $150 million fund, as per documents submitted to the SEC.
If secured, this forthcoming fund, marking the firm’s third, would stand as its most substantial to date.
In 2021, Harlem Capital achieved an oversubscribed $134 million, a significant leap from the $40 million initial fund raised in 2019.
Established in 2015 with a core mission of supporting diverse entrepreneurs, Harlem Capital’s second fund concentrated on early-stage post-product companies across various sectors, with a notable emphasis on consumer and enterprise technology.
Pitchbook data indicates that the firm currently manages assets worth $174 million and has made over 80 investments since its inception, resulting in 12 successful exits. Among its notable investments are Propense.ai, fintech venture Poolit, and e-commerce platform Gander.
Despite our outreach, Harlem Capital has not provided an immediate response to our request for comment.
It’s worth highlighting that Harlem Capital has historically directed efforts toward attracting diverse limited partners for its second fund.
It’s expected that this commitment to diversity will persist as the firm remains dedicated to championing the next wave of diverse entrepreneurs.
Additionally, it’s pertinent to acknowledge that the oversubscribed Fund 2 of Harlem Capital coincided with the heightened awareness surrounding Black Lives Matter, prompting the industry to express its commitment to supporting historically marginalized groups by channeling significant investments into these communities.
Harlem Capital’s pursuit of its third fund unfolds against a backdrop where resistance to diversity and inclusion has surfaced across various sectors in America.
The successful completion of this $150 million fundraise would not only mark a milestone achievement for Harlem Capital and its founders but also underscore the industry’s enduring support and belief in talented yet underrepresented communities.
