πŸ“’ HCP Newsletter: Working Hard, Winning Big πŸ’« – May 2021 πŸ“’

This newsletter is Harlem Capital’s monthly recap of updates on our portfolio companies, industry news, content, and events we suggest to check out and more!

This newsletter is Harlem Capital’s monthly recap of updates on our portfolio companies, industry news, content, and events we suggest to check out and more! 

Now, buckle up! πŸŽοΈπŸ’¨ LIVE FROM EVERYWHERE, it’s Road to 1,000 – May 2021 πŸ₯°

Monthly Update  πŸ“…

πŸš€Harlem Capital’s 2021 Annual Meeting πŸš€

With our 2nd Annual Meeting in the books, we want to thank our LPs enabling us to do good, while doing well πŸ’ͺ🏽. We are excited for the future and wanted to share our observations on the market. πŸ’«

Key Learnings: 

πŸ’‘ Deal velocity is at an all time high and Q1 is typically our slowest quarter. Founders should know getting partner bandwidth will be harder. VCs should create space for themselves. 

πŸ’‘ Deals are coming from all over the country, but we do see concentration in the major VC cities on the coasts and Chicago. 

πŸ’‘  Pre-Seed rounds being skipped β€” many top founders are raising $2M+ Seed rounds pre-product at a pace not seen before. It means funds are taking pre-seed risk at Seed pricing, so be mindful. 

πŸ’‘  Seed+ rounds happening frequently β€” many companies raising less than $3M Seed rounds are raising Seed+ as the Series A bar continues to rise. Even if starting a company is cheaper, scaling may still take significant capital. 

Check out more insights in our twitter thread here: 

Portfolio News πŸ—žοΈ

πŸ’° PreShow Raises $3M Seed RoundπŸ’°

Congrats to Stacy Spikes and the PreShow team on their $3M Seed round. We are excited to be on their journey to providing gamers with a new way to earn in-game currency in exchange for watching ads. The concept will eventually expand to movies, streaming and on-demand. Shout out to Canaan, Wavemaker Labs and Front Row Fund for joining the journey.

πŸ‘― WorkChew Partners with District of Columbia’s "Return to Work Safely"  🀝 

WorkChew partners with the District of Columbia to support the city's "Return to Work Safely" initiative to help bring employees back to work. The partnership between WorkChew and DC will provide people in the city with a unique network of on-demand workspaces to be productive while supporting local businesses. 

✊🏽 Blavity Announces Social Impact Arm, Blavity.org πŸ™ŒπŸ½ 

Blavity.org is a new racial equity and social impact organization created by the founders of Blavity, Inc. Blavity.org is launching its Growth Fellowship, a six-month program that focuses on scaling teams, operations and systems to Black entrepreneurs through advising, grants, business tools and sponsorship from industry leaders, alongside a $10,000 non-dilutive grant. 

πŸ“’ Wellory is Expanding the Team πŸ“’

Wellory is hiring a Director of Ops to own network processes, policies, hiring, training, and retaining for all health coaches, nutritionists + dietitians. The ideal candidate has managed marketplace experience + can build for major scale. Learn more here.

Interested in working at one of the Startups in our portfolio?πŸ’»πŸ‘‡

Search job openings across the Harlem Capital network here

Harlem Capital Related πŸš€

πŸ“’ Jarrid Tingle on the Morning BrewπŸŽ™οΈ 

In this episode, you’ll hear Jarrid tell us about Harlem Capital’s efforts to help close the funding gap to female and minority founders. 

Episode with Jarrid ➑️ Apple and Spotify

πŸ’ƒπŸ½ Henri Pierre-Jacques Shares Insights on Moving to Miami πŸ’ƒπŸ½

Harlem Capital cofounder Henri Pierre-Jacques is spending 12 months in Miami to tap into one of the hottest new startup hubs. Read more here

Top Diversity & Tech News πŸ‘€πŸ’Έ 

πŸ’ΈπŸ’Έ Collab Capital closes $50 million debut fund to back Black founders

β˜„οΈβ˜„οΈ Honest IPOs at $1.4B, Jessica Alba the youngest Latina to company public

πŸ’« Latinx-founded Insurtech Startup Sigo Raises $1.5M in Seed Funding 

πŸ‘©πŸΎβ€πŸŽ“πŸ‘¨πŸ½β€πŸ« Cisco is giving $150 million to Robert F. Smith’s Student Freedom Initiative

⚑⚑ Incorporating Mental Health Into 911: MD Ally Calls On $3.5M Seed

 βœŠπŸ½πŸ™ŒπŸ½ Naj Austin's Somewhere Good just raised $3.75M 

πŸ’₯πŸ’₯ Music mixing marketplace EngineEars raises $1M, with help from Kendrick Lamar

πŸš€πŸš€ Google commits to investing in Black-led startups and investment firms

 πŸ’ΈπŸ’Έ VamosVentures Fund I closes at $50M to invest in Latinx entrepreneurs 

🚨🚨 One of the largest Latina-led funds in the US, Ulu Ventures, raises $138M 

πŸ’°πŸ’° Ro acquires Modern Fertility 

Helpful Resources πŸ’― & Other Suggested Content πŸ’‘

Founder Resource Alert PitchDeck Databaseβš’οΈβš’οΈ

700+ decks to reference across various rounds.

Sample Stock Option Plan For Your StartupπŸ“ˆπŸ“ˆ

Equity templates from Carta for every stock option plan.

Resources for BIPOC Owned Natural Products Businesses 🌳🌳

Networking and other resources for BIPOC business owners.

Kauffman Fellows Venture Portfolio Construction πŸ’°πŸ’°

Insights on portfolio construction strategy for investment funds. 

Heartcore's Consumer Wiki πŸ‘―

The ultimate consumer tech resources database.  

With that said, see you next time!  🐣🐣