📢 HCP Newsletter: Shake-Ups in Silicon Valley & Women Changing the World – March 2023
Harlem Capital’s monthly recap on our portfolio companies, industry news & beyond! 🏎️💨
While Women's History Month may be coming to a close, Harlem Capital recognizes the extraordinary impact women have had on history every day. In particular, we champion HCP’s intrepid women team members and founders.
And one of the most effective ways to truly support and commemorate women is by investing in their innovative companies.
The Headlines 🗞️
💡 The Women Founders Who Raised $1M+ of VC Funding in 2022
Our 2022 Women Founder Report is hot off the press! Check out a few key insights:
💥 The 892 companies raised $17.9B of capital with a median raise of $6.5M
💥 74% of total companies were founded by white women who raised 68% of the total capital
💥 Seed rounds represent 30% of total companies on our list
💥 Software, Healthcare, Biotech, and Fintech represent 41% of companies, but 52% of capital raised
💥 California and New York represent 56% of companies, but 67% of capital raised
💥 9 investors invested in 10+ women-founded companies, 61 invested in 5+ companies
Sounding Off on SVB
Harlem Capital 🤝 CNBC’s Squawk on the Street
We’d be remiss not to start off our March newsletter with anything but acknowledging the SVB shake-up to the startup and VC world. It’s been a tumultuous month full of uncertainty and change, but we’ve been encouraged by the tenacity of the startup community and our founders.
On that note, Harlem Capital’s Henri Pierre-Jacques was featured on CNBC’s Squawk on the Street last week to share his key insights on the collapse of SVB:
His main takeaways?
🏾🏼 The valley needs the government as much as the government needs the valley.
🧗🏽♀️ Fundraising for both VCs and founders will be harder.
Though the risk is greater, 2023 should be a strong vintage for returns.
Henri also shared his thoughts with NBC News on how the diverse venture ecosystem should be rooting for one another during these particularly murky times.
Putting Your Money Where Your Mouth Is 💰
Our own Gabby Cazeau shares her perspective with Techcrunch. Amid the turbulent state of banking, now may be an opportune time to diversify who you choose to bank with.
Regardless of SVB’s status, there’s a need for more segment-specific financial services. “Black neobanks are focused on better-serving consumers that are underserved by the broader financial system and are a key part of expanding access to great financial services,” Cazeau said, adding that she thinks as the market stabilizes, founders’ choice of banking partners will be part of investor due diligence.
HCP Heads to USC! 🌴
Harlem Capital On Campus is an initiative to make venture accessible to future student entrepreneurs and investors across the United States.
This month, our Nicole DeTommaso stopped by the University of Southern California — alongside HCP interns Patrick Mendes and Gitika Pahwa — to speak with over 120 students on everything from breaking into the industry to raising capital.
We’re demystifying the world of startups and VC one university at a time! 🎓
Recognizing the Strength of Diversity: Black Titans in Tech 💪🏾
Black leaders continue to bring impact and innovation to the tech industry.
BAM Communication Agency’s 2023 Black Titans in Tech List celebrates the achievements of 101 phenomenal black powerhouses revolutionizing the industry.
This year’s list features our very own Henri and Jarrid. Check it out here!
Portfolio News 🏆
Topping the Charts 📈
Forbes is out with its fifth annual list of America’s Best Startup Employers and Pangaea made the competitive list of 500. The rankings are based on employer reputation, employee satisfaction, and growth. Culture is key!
An Increasingly Flexible Future
Compt, the #1 stipends platform that gives employees the freedom and flexibility to choose their perks announced a new feature – expense management. This new tool is designed to simplify expense tracking and management for HR professionals and employees alike, providing a comprehensive, tax-compliant solution for all expense-related needs at a fraction of the cost. Go, Amy Spurling and team!
Interested in working at one of the startups in our portfolio? 💻
We might be biased, but working at these companies is sure to be an exceptional experience!
Search job openings across the Harlem Capital network here.
Harlem Capital Related 🚀
2022 Diverse Founders Report: The Trailblazing Entrepreneurs 🏔
If you’re a sucker for data and diverse entrepreneurship (like all of us at Harlem), you’ll be excited about this news: Harlem Capital’s Diverse Founders Report is officially out! 🎉
This year’s report includes more data than ever before. We hope that this new data will help funds find more incredible founders. Trust us, this is one you don’t want to miss!
It Takes a Village to Build a Successful Company 🧱
As the old adage goes…. A successful company isn’t built in a day.
Although there’s no right way to build one, there are some tried & true lessons that can make the first steps a little easier.
Gabby Cazeau spoke with several founders to get their insight on what they wish they had known when they first started their company.
What were they? Find out in the full blog post here.
🚨 Jobs in VC 🧑🏾💻
Find your dream position in venture capital with these helpful blogs ⬇️
Helpful Resources 💯
Your startup doesn't have a MOAT 💰💰
A comprehensive guide to startup differentiation.
30 Legendary Startup Pitch Decks and What You Can Learn From Them 📈📈
Storytelling is critical to business. Learn to tell your story effectively from the pitch decks of Facebook, Airbnb, YouTube, and more!
VC Interview Guide 🏾🏼🏾🏼
Prepping for your next VC interview? This handout has everything you need to secure that job!
If you made it this far, thanks for reading! See you all next month for more updates!
And don’t forget to follow us @harlemcapital on Twitter, LinkedIn, and Instagram to stay up to date on all things HCP!