The Ledger
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VCs backing the best founders cannot ignore 70% of the population
“And so I don't believe what any VC says, hey, we're backing the best founders when you're only investing in 30% of the population.”
Tingle: High correlation exists between investor demographics and funded founders
“As we did more research, we found that there's a really high correlation between the race and gender of check writers and banners that get funded on a percentage basis.”
Diverse founders are 70% of the population but get 4% of VC
“The biggest stat that we saw was that women and people of color get about four percent of VC funding, but are 70% of the population.”
Tingle: Harlem Capital ignores deal terms outside of economics and control
“We don't spend time on things that aren't economics or control.”
VCs must buy early ownership to avoid unrealistic exit math
“If you actually look at how much enterprise value you need to return your fund with an implied median ownership, the numbers can get really wonky, and so you're better off buying up ownership when it's the cheapest, and being able to have diversification with …”
None of Harlem Capital's team had prior VC experience before joining
“No one who's worked with us has done VC before, but they're incredible, capable folks.”
Harlem Capital prefers to back spiky founders over well-rounded ones
“We're not looking for founders that have everything. We're looking for people that are exceptional on those critical dimensions.”
Harlem Capital hired its entire investment team from its intern program
“All of our investment team has came from our intern program, so having that ability to take this huge filter for talent Work with them for three to six months, and then hire them means that we know these people tremendously well.”