This Week in Startups Harlem Capital’s Henri Pierre-Jacques on funding underrepresented founders, insights from raising first fund & getting Apple as an LP, Black culture’s impact on social apps | E1183
Mar 10, 2021
Henri Pierre-Jacques, Co-founder of Harlem Capital, dives deep into the challenges and triumphs of funding underrepresented founders, particularly Black and Latino entrepreneurs. He shares insights from his journey raising their first fund and securing Apple as a limited partner. The conversation highlights the cultural impact of Black influences on social media and the shifting dynamics in venture capital towards inclusivity. Henri emphasizes the ongoing need for genuine allyship and the importance of diverse investment strategies in reshaping the funding landscape.
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Apple's Investment
- Henri Pierre-Jacques's HBS classmate introduced him to someone at Andreessen Horowitz.
- This led to an introduction at Apple, resulting in a $10 million investment in Harlem Capital.
Harlem Capital's Mission
- Harlem Capital's mission is to invest in 1,000 diverse founders, focusing on Black and Latino men and women.
- This mission addresses the underrepresentation of these groups, who receive only 4% of funding despite being 70% of the population.
Fundraising Journey
- Henri and his co-founder, Jared, began fundraising for Harlem Capital while at HBS, securing $12.5M before graduating.
- TPG's anchor investment provided crucial validation, leading to a final close of $40M.