Title says it all. Harlem Capital raised $40MM for debut venture capital fund focused on underrepresented founders. Limited Partners include TPG, State of Michigan Retirement Systems, among others.
Do you believe there's a disparity in access to capital between female/minorities or not?
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Think money is money and VC generally don’t care, they just want to fund good ideas. Women, in general, are less interested in engineering so they are less weighted to the deep techy startups that can scale globally and more weighted to services / eCommerce which is tougher to hit home run.
Equality of opportunity, not equality of outcome.
I disagree with the lines of thought above.
HC's thesis has more to do with there being an inherent bias for VCs to invest in people that they resonate with. Majority of the VCs in the US are old white dudes that are more likely to invest in white male founders.
Which I think has a point, funding data definitely indicates this.
As with any VC fund, what really matters in the end is how it performs. After a year or two we'll be able to see most of its portfolio, and the team's chances of raising a 2nd fund. I'm looking forward to seeing them succeed.
No, your argument is flawed. White VCs aren’t more likely to invest in white male founders, except in the pure literal sense. You think white NFL owners are more likely to draft black players? No, they just compose more of the population going into the field and excelling.
You should re-read what I wrote. I'm not making an argument at all - what I wrote above is what HC (Harlem Capital)'s investment thesis is. Funding data seems to agree with what they think.
I think less minorities and women start companies, therefore you see less of them needing capital.
What people aspire to is the key here. Blacks and women for that matter aren’t dreaming enough about engineering at the age where developing skill to enter the path to tech starts. Even black kids thinking about college at a young age are probably more interested in fields of power and money or entertainment and sports rather than fields of science and math. The only way you change the narrative is by opening up the realm of possibility.
OMG!!! what’s up with so many posts on blacks / diversity these days
WhAt'S uP wItH sO mAnY pOsTs On BlAcKs / DiVeRsItY tHeSe DaYs?![]()
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I was wondering what is your take on HBCUS? I understand the concept and the significance during that time but what about now?
Based
I think it’a gonna work out great for them! That is, the founders of HC given that they did not put up much of their own money. Slap a diversity sticker on your shop and you’ll soon raise capital beyond your imagination. If they hit a home-run they will become billionaires and if they fail you can always blame it on the market not being ready for a service or or product made by a minority.
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