Vanderbilt University joined fellow LPs including Consumer Technology Association in an oversubscribed close for the diversity-focused Harlem Partners Venture Fund I.
US-based venture capital firm Harlem Capital closed its inaugural fund at $40.3m on Monday with limited partners (LPs) including Vanderbilt University, surpassing its $25m target and $40m cap.
Harlem Partners Venture Fund I engaged 55 LPs, including student startup-focused VC firm Dorm Room Fund, trade convention operator Consumer Technology Association and private equity group TPG.
Other backers include public pension manager State of Michigan Retirement System, and philanthropic offices Harry and Jeanette Weinberg Foundation and WK Kellogg Foundation, as well as several individual investors.
In addition to capital, TPG will also provide operational resources, as will private equity firm KKR and accelerator Techstars.
Harlem Capital started as an angel syndicate in late 2015 to aid diversity in entrepreneurship through deal-making and thought-leadership, racking up six investments in this capacity before launching the fund in June last year.
The fund will focus on investing in startups…
