📢 HCP Newsletter: A Record Year for Diverse Founders – March 2025 🏆
Harlem Capital’s monthly recap on our portfolio, industry news & beyond! 🏎️💨
The Headlines 🗞️
💥 The Future is Female (and Funded)
We’re wrapping up Women’s History Month, a time to celebrate the achievements of women who are leading and transforming the world. A sneak peek at our forthcoming Women’s Report:
This year, we analyzed 662 companies led by women founders who raised $1M+, focusing on the impact of Black, Latina, and Asian female founders in the startup ecosystem. Despite macroeconomic challenges, women founders continue to build game-changing companies and attract capital. 🚀
Key Insights 📊
The 662 companies raised $49.1B of capital with a median raise of $1.37M
Seed rounds represent 30% of total companies, but only 3% of capital raises
Software companies represent 14% of the companies and 45% of capital raised
California and New York represent 55% of companies and 77% of capital raised
13 new women-founded unicorns minted in 2024!
Women founders are creating lasting impact, but there's still a glaring need to close the funding gap, especially at the earliest funding stages.
Let's keep driving change and working towards a more inclusive and equitable venture ecosystem. Stay tuned for the full report 👀
13x Growth in Diverse Funding 📈
In 2018, Harlem Capital started tracking how much diverse founders were raising because no one else was tracking this information. Since then, the total number of Black & Latino founded companies that have raised over $1M has increased 13x!
Key Insights from HCP’s 2024 Diverse Founders Report:
🏆 81 Black & Latino-founded companies added to the $1M+ VC-funded list
💰 $3.0B in additional capital raised
🦄 2 new diverse unicorns (Helion Energy & Twelve)
📊 6 raises exceeded $100 million, up from 5 in 2023
Portfolio News 🏆
📈 MBA to Market Leader
Featured in Poets & Quants Most Disruptive MBA Startups in 2024, TestParty is making waves in digital accessibility, helping businesses comply with accessibility laws through AI-driven tools. Co-founder Michael Bervell reflects on how his MBA has shaped his venture journey and his biggest win yet.
🏡 Fortifying the Future
The devastating January fires in LA have highlighted the need for ways to help insurers to cut costs. In a recent BBC article, Faura co-founder Valkyrie Holmes shares how the company leverages satellite and aerial imagery, along with disaster report data, to predict a property’s risk of future disasters.
→ 🎧: For more, listen to Valkyrie share about how to write more business in disaster-prone areas.
🐾 Leading the Pack
Exciting news: Christie Horvath, founder of Wagmo, has earned a spot on Inc. Magazine’s Female Founders 500! A huge achievement for expanding offerings for custom pet wellness plans and tripling ARR in 2024!
Harlem Capital Related 🚀
💫 NVCA’s Shimmering Star
Big congratulations to our very own Nicole for being named a National Venture Capital Association Rising Star Award winner!
Her dedication to diverse founders and reshaping VC makes this honor well deserved – sourcing startups, mentoring future investors, and driving meaningful change.
The future is bright and Nicole is helping lead the charge! 🌟
💰 The Power100
Our Managing Partners are on Blueprint Capital’s Power100 Asset Managers in VC List. We’re proud to be in the company of other professionals leading by example, generating strong portfolio outcomes, building competitive organizations, providing opportunity and access for all founders, and shaping the future of the venture ecosystem.
🌵 Harlem Capital Hits The Desert
The HCP team went on our quarterly retreat in Carefree, Arizona! It was an invaluable time to strategize and rejuvenate. We explored human design, trampolining, biking, and gratitude yoga. 🧘🏽♀️
🚨 Jobs in VC 🧑🏾💻
Helpful Resources 💯
Value in an AI World ⚒️⚒️
A 20VC podcast with Anthropic CPO Mike Krieger.
From Dorm Rooms to Boardrooms 🧠🧠
Insights on young founder communities and archetypes.
YC Library 📚📚
Lessons from the world’s best founders.