๐ข HCP Newsletter: A Powerful Table & Powerful Impact โ May 2024 ๐
Harlem Capitalโs monthly recap on our portfolio companies, industry news, events & beyond! ๐๏ธ๐จ
The Headlines ๐๏ธ
๐ฅ The Harlem Capital Effect: A Peek at HCPโs 5 Years of Impact
Since 2018, Harlem Capital has raised 2 funds and made 60 investments, driving significant impact in the VC landscape. From creating 384+ jobs to mentoring future investors, weโre dedicated to empowering diverse founders & fostering economic growth.
To assess our impact, we looked at our firm from three lenses:
๐ฐ Sourcing & Capital
HCP saw 50%+ of all Black & Latino seed deal volume ($) in 2022 and 2023
3% of all Black & Latino seed capital raised was HCP checks and 6% were HCP-led syndicates
๐ง๐พโ๐ป๐ฉ๐ฝโ๐ป Portfolio
384+ jobs created by HCP portfolio companies, 36% identify as people of color (POC) and 35% as women
114 total management positions created, 44% held by POC and 36% held by women
๐ฉ๐ฝ๐จ๐ป Intern Program
39% of intern alums have held full-time VC positions
9% of all Black & Latino investors in the ecosystem are HCP intern alums
2% of all Black & Latino checkwriters in VC are HCP intern alums
๐ช A Seat At the Power Table
๐ We hosted our second installation of Harlem Capital's Power Table Dinner series in collaboration with Gunderson Dettmer. Partners Gabby, Brandon & Jarrid represented HCP in San Francisco!
Collectively, the founders in the room have raised $330 million+ building innovative businesses like Finix and Wonderschool. Investors at Sequoia Capital and Lightspeed along with operators from Plaid and Loom joined for an honest and open discussion.
๐๐ก๐ซ๐๐ ๐ค๐๐ฒ ๐ญ๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ:
โจ Mentorship and coaching are keys to unlocking your growth. How much you grow directly impacts how much your company grows.
๐งฑ Not every top executive will work out, but as a CEO, your job is to help set them up for success.
๐บ A CEOโs job is to 1) create a great working environment, 2) hire great people, so that you can focus on 3) what you uniquely do better than anyone else.
๐ญ AI for Manufacturing Software
The manufacturing sector hasnโt had it easy lately. In recent years the industry has faced several challenges due to geopolitical uncertainty, wars, supply chain disruptions, changing consumer preferences, and increasing regulatory scrutiny.
These shocks have shown the need for innovation and catalyzed a mindset shift, where manufacturers are eager for new solutions. One major shift thatโs primed to drive innovation within manufacturing is Artificial Intelligence (AI).
AI is becoming increasingly essential to the day-to-day operations of manufacturers all over the world. There is a great opportunity for software or low-cost hardware solutions to apply artificial intelligence to manufacturing, helping to make products better, more efficiently, and safely.
We wanted to study this space and identify where we see great investment opportunities and where we want to partner with visionary founders. You can check out our full report here.
Harlem Capital & Portfolio News ๐
๐ฝ NYC Catalyst Fund
Harlem Capital is honored to receive an investment from New York City Economic Development Corporationโs (NYCEDC) inaugural NYC Catalyst Fund (NYCCF). The fund invests in initiatives yielding positive social and environmental outcomes and financial returns. Weโre excited to nourish NYCโs thriving startup ecosystem.
๐บ๐ธ On the Board
Big news! Managing Partner Jarrid Tingle has joined the National Venture Capital Association (NVCA) Board of Directors. NVCA supports the U.S. entrepreneurial ecosystem, leading venture capital policy, data & education.
๐ฉ๐พ๐จ๐ฝ Factor Fellowshipย
Applications for the Factor Fellowship are now live! The program prepares the next generation of diverse emerging leaders looking to break into careers at top NYC startups. Learn more & apply todayโapplications close June 9.
๐ฌ A Meta Movie Moment
HBOโs "MoviePass, MovieCrash" highlights the larger-than-life story of MoviePass co-founders Stacy Spikes & Hamet Watt. Itโs a tale of redemption, grit & inspiration. Stream it now on Max!
โค๏ธ HCP SF Fam
We love to see our intern alumni thriving! Our SF cohort got together alongside Partners Gabby Cazeau & Brandon Bryant. Itโs exciting to witness our former interns pursuing fulfilling journeys in VC, business school, the tech world & beyond.
๐จ Jobs in VC ๐ง๐พโ๐ป
Jobs at HCP portfolio companies: harlem.capital/jobs
Read & Apply ๐
๐ช๐ฝ BVCC: Apply to Black Venture Capital Consortium Analyst Readiness Program
Join BVCC's free 10-week Venture Capital Investment Analyst Readiness Program starting September 17th! This program will equip students with the skills to kickstart a career in VC.
๐ก NYTW: New York Tech Week First Week of June
NY Tech Week is set for June 3-9! Connect with interesting founders and funders and get an inside scoop on the latest innovations. Look at the great lineup of events to see where you can plug in!
๐ Pitchbook | NVCA: Q1 2024 Venture Monitor
The Q1 2024 PitchBook-NVCA Venture Monitor report highlights key trends in the US venture market, including a significant drop in new fund commitments and total exit value. The report also covers dealmaking, regional spotlights, and investor trends. For a detailed analysis, check out the full report!
๐ป BVP: Cybersecurity trends in 2024
Explore the latest cybersecurity trends for 2024, including market consolidation, AI's role in security, and the importance of identity management. Discover why returning to basic cybersecurity practices is crucial and how venture capital influences the industry.ย