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Harlem Capital

includes Harlem Capital Fund I, Harlem Capital Fund II

24 statements across 1 episodes · 5 bullish · 0 bearish · 1 people on the record · first statement Jun 24, 2022 by Henri Pierre-Jacques · said 15 times in 2 episodes since 2020 · across every show →

Mentions by year, the whole family

brought up most by Henri Pierre-Jacques (8), Harry Stebbings (6), Katie Stanton (1)

tap a year for its mentions
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2022 14 mentions in 1 episode
2020 1 mention in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Harlem Capital, oldest first

Jun 24, 2022
Assertion Not checkable as stated
Pierre-Jacques: Harlem Capital can execute deals in 48 to 72 hours
“We do deals in as fast as. 48 hours, 72 hours. We can do a 30 page deck that fast.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 39:50 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Assertion Partly supported
Harlem Capital leads 80% to 90% of its investments
“We lead 80 to 90% of our deals”
Henri Pierre-Jacques Jun 24, 2022 ▶ 8:42 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Insight
Targeted contact research yields far better LP introductions than general requests
“When you ask LP for their introductions, they may give you one or two if they're really nice. Most of them are going to be like, okay, cool. And they'll never get back to you because they don't have the time. It's not my job to find the people in my network fo…”
Henri Pierre-Jacques Jun 24, 2022 ▶ 22:06 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022 neutral
Insight
Pierre-Jacques: Nine-Figure VC Funds Must Secure 10% to 20% Portfolio Ownership
“When you start getting into the a hundred million, the nine figure funds, like that's where you have to start doing 1015, 20% ownership. Like the math just doesn't work otherwise”
Henri Pierre-Jacques Jun 24, 2022 ▶ 5:47 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Harlem Capital Launched Fund I in 2018, Closing at $40M in 2019
“Yeah, our summer of July July of 20 18 between first and second year business school. We formally launched fund one. Ended up raising 12 and a half million dollars, our second year of business school, and then ended up closing on forty million November of 1906…”
Henri Pierre-Jacques Jun 24, 2022 ▶ 1:41 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022 positive
Assertion Not publicly verifiable
Pierre-Jacques: 24 of Harlem Capital's 76 interns work at other VC funds
“And so of those 76 interns, 24 now work at other VC funds.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 37:48 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022 positive
Prediction Not checkable as stated
Harlem Capital aims for consistent 3x-5x net returns over single outlier wins
“And so for us, like we're not targeting to be that one coin based outcome, that one stripe outcome, like we're saying over time, how do we get LPs to know that we can consistently generate three to five X net returns.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 7:38 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Harlem Capital raised Fund I check minimums from $100K to $500K across closes
“Fund one, we did three closes. The first close, we did a hundred K minimum. Second close is two for decay. Third close is 500 K, right?”
Henri Pierre-Jacques Jun 24, 2022 ▶ 24:45 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Assertion Partly supported
Pierre-Jacques: Harlem Capital hired five of its 76 interns over four years
“We've had 76 interns over four years. We've hired five of them so far.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 36:21 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Pierre-Jacques: Harlem Capital Requires Two Great Factors Out of Four to Invest
“Ultimately, if we have two of the four that are really, really great, like we're gonna invest. If you have three good ones, we might still invest, right? But we need two of them to be great at least.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 28:34 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Harlem Capital rejected Fund 2 LPs demanding rigid GP commitments
“And we had a few LPs in fund two that we didn't let in for, you know, Whether it was GP sake or other rules, because we just felt like they weren't really humanizing us, right? They're kind of were using us as a number.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 13:33 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Assertion Not publicly verifiable
Pierre-Jacques: Harlem Capital is the 3rd or 4th largest Black-owned VC fund
“We're now the probably third or fourth largest black owned VC fund, which is kind of crazy.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 35:20 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Assertion Supported
Harlem Capital scaled average check size from $25K to $2M in three years
“Now I'm fun to, you know, our average check size is two million. And so I basically got from 25 to two million in three years”
Henri Pierre-Jacques Jun 24, 2022 ▶ 2:47 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Harlem Capital created approximately 200 versions of their Fund I pitch deck
“Now we have probably 200 versions of our fund one deck.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 23:19 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Silicon Valley Bank financed 60% of Harlem Capital's Fund 2 GP commit
“Second thing we did in fund two, which we didn't do in fund one, which was help, was get a GP credit line. Right. So basically we use Silicon Valley bank. They put up 60% of our GP stake. We put up 40% of our cash and over time it gets paid.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 12:51 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022 positive
Prediction Open · timeframe Jun 2042
Pierre-Jacques: Harlem Capital aims to back 1,000 diverse founders in 20 years
“Our mission is to back thousand diverse founders and every founder we back obviously matters. Every life we change obviously matters, but I know we can do so much more and we set that mission. Of a thousand founders over 20 years for a reason, right?”
Henri Pierre-Jacques Jun 24, 2022 ▶ 33:50 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Harlem Capital's initial Fund I launch email got only two responses
“So when we first launched the fund, it was actually tax day of 2018. And we did this mass email and we got like two responses from like a hundred emails of people who we knew.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 21:14 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Harlem Capital's First Fund Secured Six Institutional Investors
“We ended up with six institutions in the fund and we had a lot of GPS and family offices.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 18:33 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Assertion Supported
Harlem Capital Secured 55 LPs for Its First Venture Fund
“And we, you know, we ended up with 55 LPs in Fund One.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 16:01 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022 bullish
Prediction Open · timeframe Jun 2027
Pierre-Jacques aims to build Harlem Capital into a multi-billion global firm
“Like, I'm 30 years old. I want to do this for the rest of my life. I'm trying to build a multi-billion multi-asset class business globally.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 9:42 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022 neutral
Disclosure
Harlem Capital invests $1M-$2.5M for 10%-15% ownership in $134M fund
“So for us, a hundred and thirty four million dollar fund, we tell people we invest one to two and a half million dollars for 10 to 15%.”
Henri Pierre-Jacques Jun 24, 2022 ▶ 6:57 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Insight
Harlem Capital runs investment committees in reverse order of seniority
“One thing we do now is the junior person always goes first after we have investment committee. So we go associate to principal to partner to GP, right? And so for everything, for opinions, the general partners always go last. Because if the GPs talk first, eve…”
Henri Pierre-Jacques Jun 24, 2022 ▶ 32:24 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022 positive
Disclosure
TPG anchored Harlem Capital Fund 1 and sourced three institutional LPs
“TPG was our anchor in fund one. Right. So one of our high net worths introduced us to TPG November of, Ninth, November of 18, and we had a bunch of conversations. We were doing this for five, six months back and forth, met probably 45 partners. It was a six-mo…”
Henri Pierre-Jacques Jun 24, 2022 ▶ 19:52 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
Jun 24, 2022
Disclosure
Harlem Capital capped Fund 1 GP commit at $250K despite hitting $40M
“So fund one, our target was 25, our cap was 40. We hit forty million. So we ended up doing two 50 K instead of 400 K, right?”
Henri Pierre-Jacques Jun 24, 2022 ▶ 12:29 Henri Pierre-Jacques: How I Founded Harlem Capital; Our $134M Fund | 20VC #901 · 20VC with Harry Stebbings
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