📢HCP Newsletter: HCP Fund II Closes at $134M 🚀 “This is Just the Beginning” – March 2021 📢

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! 🏎️💨 LIVE FROM EVERYWHERE, it’s Road to 1,000 – March 2021 😘🥰

Monthly Update  📅

🚨 Harlem Capital Closes Fund II at $134 million 🚨

We are proud to announce the close of Harlem Capital Partners Venture Fund II, LP at $134 million! The fund was oversubscribed from its target of $100 million and above its initial cap of $125 million. 

This time around we’re looking to invest in 45 companies and shifting our focus to Early Seed round investments in startups that are post-product. 

With our second fund, we also introduce “culture carry” — allowing Fund II founders to split 1% of the fund’s carry. Fund I founders will also now have culture carry. The decision ensures all founders will benefit directly from each other’s success, aligned with Harlem Capital’s mission to promote a more diverse ecosystem! 💰💰

Check out our Forbes article and catch the team on Clubhouse at 8PM ET tonight! 

We are also hiring a Platform & Community Manager , please share and apply by the April 29th deadline.

HCP Statement in Support of the AAPI Community ✊🏼✊🏽✊🏾

Following the tragic events in Atlanta, Georgia on March 16th, Harlem Capital has released a statement in support of the Asian American Pacific Islander (AAPI) community.

Let’s Hear it For The Women 💃🏿

Happy Women’s History Month!! There is much work to be done in 2021 as 2020 saw declines in funding for women. As VCs, we must remain focused as this requires a long term solution. Let’s continue to bridge this gap together! 🙏🏾🙏🏾

Portfolio News 🗞️

Feature Alert — HCP Portcos in Forbes EQ  🙌🏽 

Check out our portfolio companies Malomo,CashDrop andLumin Skin inForbes new EQ program. Thanks Forbes for providing a platform for diverse voices to be heard!!

Round 2! HCP Harvard Business School Case feat. CashDrop 📚

We are are grateful to have our second Harvard Business School case and to share it with one of our founders, Ruben Flores-Martinez of CASHDROP. A Black VC and a Latino founder is rare, but our stories need to be shared! 

Interested in working at one of the Startups in our portfolio?💻👇

Search job openings across the Harlem Capital network here

Harlem Capital Related 🚀

Our team is elevating & expanding 🙌🏽 

We are excited to announce the promotions of Brandon Bryant to Partner, Gabby Cazeau and Kelly Kopchik Goldstein to Principal. We also welcome our newest rising star Nicole DeTommaso as a Senior Associate. Thank you all for being early believers! 

Welcome to the Family — Workchew Raises $2.5m seed round led by Harlem Capital 🚀

WorkChew allows remote professionals to find and book workspace in cities and suburbs across the US. Harlem Capital led Workchew’s $2.5 million oversubscribed seed round, with participation from Wilshire Lane Partners, Invictus Advisory Group, Techstars Ventures, and RW Capital Investments, Inc. Congrats to co-founders Maisha Burt and Allyson McDougal!  👍🏽

The Power 250: Diverse VC Report is back and better! 📈

Our 2020 Diverse VC Report is live. We found 250 Black & Latino Venture Capitalists that work at or run 201 funds. This year’s report showed growth in decision makers since 2018. We are proud to be represented among a powerful group of diverse VCs who not only are continuing to increase the access of capital to diverse founders, but also lowering the barrier of entry for underrepresented minorities breaking into the venture industry.

Some key highlights: 

💡32% women

💡30% Latino

💡30 cities but 58% SF/NYC

💡68% are decision makers

💡29 were promoted

💡201 funds, but only 35 have 2+ diverse investors and 9 have 3+

Launching our HCP Talent Platform 💼

Announcing the HCP Talent Platform. We have received 5k intern applications, but only been able to hire 58 so we want to connect the hundreds of others we interviewed to other VC and investment opportunities. Funds, please fill out here for access. 📢📢

The More Equity podcast is the podcast that keeps on giving! 🎙️ 

📢 Ruben Flores-Martinez, Founder and CEO of Cashdrop

In this episode, you’ll hear about Ruben’s upbringing and inspiration for launching Cashdrop, trouble fundraising as a diverse Founder, and vision for future generations of entrepreneurs. 

Episode with Ruben ➡️ Apple and Spotify

Gems dropped 💎💎💎

  • When times are tough, it’s about attitude. Your worth isn’t dictated by a piece of paper, but by whether you want to move forward and better yourself. 

  • Don’t fear your parent’s expectations or the chance of failing – keep ‘doing,’ and it’ll eventually click. 

📢 Morgan DeBaun, Founder and CEO of Blavity Inc. 

Listen in to hear about the early days of launching Blavity (and Harlem Capital!), managing pressure, and what we’re seeing in the venture market.

Episode with Morgan ➡️ Apple and Spotify

Gems dropped 💎💎💎

  • As a Founder, there’s a lot of ego management. To be successful, you may need to build a leadership team that is better than you in certain areas.

  • Founders and VCs manage a lot of pressure and should talk more openly about executive coaching and therapy.

Top Diversity & Tech News 👀💸

2020 Study Of Gender Diversity on Private Company Boards 🙌🏽🙌🏽

Founder First Raises $9MM to Invest in Diverse Founders 🚀🚀

General Catalyst’s Third SPAC Aims to Help Black Founders 📢📢

African Payments Company Flutterwave Raises $170M 💰💰

Square Buys Tidal and Adds Jay-z to Its Board🚨🚨 

Mark Your Calendars – Save These Dates! 📅

Morgan Stanley Multicultural Innovation Lab 💰💰📈

The Multicultural Innovation Lab provides founders of tech and tech-enabled startups with much-needed access to investors—along with the tools, resources and connections they need to grow and thrive. The Summer 2021 cohort begins in August and final applications are due on April 27, 2021

Visible Hand Fellowship Program📈📈

A fellowship program for underrepresented talent looking to build technology companies. If you’re looking to launch a startup and early along in company-building, this is for you! Priority applications due April 16th, all applications close May 7th.  

Arch Grants Startup Competition 💡💡

Awards innovative, scalable, and job-creating startups with $50,000 non-dilutive grants and access to an ecosystem of resources in exchange for headquartering their business in St. Louis for at least one year. The application opens April 1st. 

Adobe Summit 2021 💻💻

Engaging virtual event with Experience Makers from around the globe. Join the event for expert content, inspiring speakers, and networking opportunities. Event is free and is April 27-28. 

Helpful Resources 💯 & Other Suggested Content 💡

Founder Resource Alert PitchDeck Database⚒️⚒️

700+ decks to reference across various rounds.

Sample Stock Option Plan For Your Startup📈📈

Equity templates from Carta for every stock option plan.

Resources for BIPOC Owned Natural Products Businesses 🌳🌳

Networking and other resources for BIPOC business owners.

With that said, see you next time!  🐣🐣