YouSaid · the spoken record

Jarrid Tingle

lines on the record: 66
first: 2021-12-16
most recent: 2021-12-16
sittings or episodes: 1
sources: podcast

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“You but you have to keep going, and between that and my career and my sports, I realize I'm someone who just keeps going, even if you get tired at the end. That last 25%, that fourth quarter is where so much value can be created or lost. And I think my team and my founders know that I'm someone who's going to continue to run through the finish line. That's how I think about it. I think we have a tremendous amount of opportunity and we've been so fortunate that we owe it to ourselves and our founders and our communities to continue to push and push and push. And anything that we can control, we should control.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“And on my side, I mean, my mom is a pretty reserved and quiet person, and her love language is service. And I saw through her actions how much she cared about me and my family. So she would come to my grandparents' house every day to bring them food, to take them to the store if they needed to be there supportive. She would literally cook and clean for them. For me, when I went to board school, I went to college. She was still trying to come and see me and bring me stuff. When I was younger, she would help me with projects and everything like that. I saw that being action oriented and just showing up every day through like literally your actions is imparting with me. And so my family and my friends, I try to show up with actions. I don't always have the words, but I can always show up and do the right thing. One thing she did say to me though that let's stay with me is she said, hey, Jared, I was working on a project, I think, in fifth grade. It was like an HE Egypt project. And I just wanted to give up and go to sleep. She's like, Tingles aren't mediocre. We're not done. I will help.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“And hopefully, I work hard, but let me make sure I enjoy life. I think last year, if anything, was a reminder that life is short and you better enjoy it while you can.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think my dad's quote work hard, play harder. He told me this probably when I was in middle school has always stuck with me. I think it just resonated. I've just never really found value in working anything out and enjoying it. We fortunately have created that sort of coacher here at Harlem Capital as well, and we always kind of remind people that there's just so much more to life than making money. And who you are personally impacts who you are professionally. So I think it builds a level of empathy even with our founders where we're just very conscious of it, like that they're humans. It's easy to think of them as investment five, investment 20, and what's the TVPI? And it's like that doesn't really matter to founders. It's like what's going on in your life. There's a pandemic. How are you feeling? People are moving. People are dying. People are losing jobs, whether it's their partners or their parents, that mentality my dad gave me as somebody who was born in Haiti and moved over here when he was in high school. That has always just really resonated with me and kept me grounded when things get tough, just remember I am a person, there's a lot more to me than the work that I do.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, complete opposite. I don't like reading. I read a lot of Twitter articles and decks, but I'm an activity junkie. So I play basketball, tennis, swim, golf pretty much every week. For a lot of people, relaxing when they're tired is like for my wife journaling or reading or, you know, going to the spa, for me relaxing is burning calories. That really is what keeps me calm. And so I try to do a lot of activities. Just recently reached Miami and most of my best friends are my basketball league on Sunday. That's just like something I look forward to every week and even when I travel out of town, I make sure I fly back Saturday so I can come back and play basketball on Sunday with my friends.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“I can start. I love reading. It used to be professional development just trying to find ways to expand my mind and my opportunity set. Now that we're so ingrained in work, I want to take a break from that and I'm more into history and fiction, which gets me excited. It kind of removes me from the area. But honestly, music's been a huge thud for me. I was a DJ in college, not a real DJ, but a DJ for my friends. And I was like, why does this matter so much to me? But it's because art is how you decorate space, but music is how you decorate time. And you can listen to a song that'll take you right back to a moment or it's a way to like capture a moment. Your wedding, that best time that you had with your friends, that time that you had when you were down, that time when you were up, when you had a huge celebration. And so by curating playlists, it's a way for me to kind of tap into emotions, tap into memories, but also how to bring people together. And I've been able to do that in ways that just makes me happy. And last time I had to do it was our retreat. So I'll continue to do that in the future as well.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Hit the nail on the head. I mean, I'm very excited about crypto DeFi, Web3. We have to be cautious, but we have to be in this huge market opportunity. It's really going to change hopefully everything. Then e-commerce, I've been really excited about just proliferation of people wanted things more conveniently, faster. And those are two areas I've been super excited about leaning into. But on rehit our overall focus areas pretty well.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“To become the angelist for Africa, and then eventually emerging markets. And that's a founder that I personally am known for eight years. We were analysts of Bank of America together and been tracking him for quite some time. We want to have opportunistic lens, but we also know we have really deep expertise in those five areas where we have density of founders and also where we've seen diverse founders because part of the challenge with Fund One, where people are asking, you know, what are your industry focus? Nobody knew where diverse founders existed, which is why we created our research reports. It was always there's one person of funding going to women, but it's like, where are they located? What industries are they in? What stages are they at? Like you have to do the work to actually figure that out. And so now we've actually had some time to figure out where there is density, where there is venture returns. And so we're doubling down on those markets, but we're really continuing to remain opportunistic to just invest in the best diverse founders where we have conviction regardless.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, we talk about this every day, this back and forth of ownership, valuation, and speed and diligence. I think it's something that everybody's struggling with at this point. We'll always remain diverse focus. That is really our mission lens. And we're kind of learning more of what we don't do. So we don't do consumer products, food beverage, biotech, hardware. We haven't done ed tech. We're not opposed to it, just haven't done it yet. I think from where we've seen density for diverse founders has been e-commerce, fintech. wellness, enterprise software and now we're diving into crypto as well, which I think is undiverse, but we're hoping it does become more diverse on Brandon's kind of believing a lot of our crypto DeFi blockchain investments. And so those are probably the five key areas, but like ultimately we are mission driven. And so we want to invest in the best diverse founders in the largest markets. And so we just signed a term sheet this week for our first Africa deal, which is a diverse founder based in Kenya, which essentially”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Has a really cool lens for just everything, but is amazing also at bringing people together and also just telling our story in a compelling way. And lastly, Tona, she's like a jack of all trades. She really, she's super young. She's accomplished so much. She's a great, again, diligent person as well, strategic thinker who helps Anri and I manage each other. She's our internal kind of executive coach and helps think about how we take ourselves to the next level and create a better platform for our investors. Happy that four out of seven of our team is women and are all incredible.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Really, building good rapport, as well as internal process improvement. Do you look at what we're doing inefficiently and make it better? She gave us so many tools that help us win. Call on our Of investment banking. She's amazing at sourcing a diligence, but she's also great at business development. Want to take on some of the partnerships with other firms, other corporations to help. Great cool partnerships and events for our founders. Melody, our platform community manager. She had worked Production TV media.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“With them for three to six months and then hire them means that we know these people tremendously well. It also means we're able to find folks that haven't been traditionally exposed to VC. No one who's worked with us has done VC before, but they're incredible, capable folks. And then our platform community manager. It was our first external hire Because we had so much experience running an intern program, we knew exactly how to have a rubrics, how to have a process that enabled us to find. Best person. In terms of skill sets, Andre and I run the day to day fundraising, admin, investment decisions. Brandon has recently become a partner. Great at sourcing, finding investment decisions, branding. Gabby on our team as an engineer by background. She is amazing at sourcing. Amazing efficient diligence, but also great at just networking.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“We are so grateful for our incredible team. So we have three partners now. Henri Brand and I, who were friends for over a decade, so that has helped tremendously. Each other personally and having that camaraderie, having that mission alignment has been so advantageous for our success. And it means even if we have a TIFF, we get over it and keep it moving. Like Irene and I had a little skirmish this morning. We're back on this. Excited to talk to you, right? We know we're going to be fine. Outside of that, we have a principal. We have a senior associate. We have another junior investor who's a chief of staff slash junior investor. And then we have a platform and community manager. All of our investment team has came from our intern program. So having that ability to Take this huge filter for talent.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Talk about it, and that is a great filtering mechanism. Basically, it's a check in, basically a vote process. From there, we're all up to speed, and we may do a full team call with that team, a partner meeting with that team, that management team. And then we're able to all be up to speed. And by the end of that call, if it's a fast moving deal, we can make an indication. There's still a lot of work, but we make sure we sequence it. In a way that we can make a call as quickly as we need. So if it's a process, we only have three or four days, we can do it as process where we have a couple weeks, we can take that and take our time. But you have to be able to move quickly and get to conviction in this market and spend your time efficiently, or you're not going to win those best deals.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Most excitement from downstream capital and other VCs were the ones that were moving quickly that were competitive, so we had to adjust our process. We used to do comps and exit mile analysis and penetration analysis and references at the end. Now those things are so important that we do those pretty much up front. And that has really cut down the amount of time it takes for us to make a decision. But it also helps us spend our time in the highest and best use ways. You only want to be spending your resources on the high priority deals, things that are kind of not exciting. You don't want to be wasting time on. So our process today is one of the partners or one of the junior investors will take a call with the team. Then we do some work. We submit a pre-memo where we also do the references, the model and analysis and then present it to our team. So before we even have more than one partner on a deal.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“The key change he made is being focused on ownership. I mean, we had basically raised our whole first fund without being focused on ownership. We had a good conversation with a top GP who was like, I don't need to know your strategy, I know your math. I think you guys can be much more successful if you think about it this way. And basically, we had a model that worked, but 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 your portfolio. So that was the big chance to at least our philosophy on ownership. In terms of our diligence process, we come from private equity. So I think the bias is to do more work, to have more pages, but you have to be adaptive in VC. And so there were some deals that we got done within a few weeks. There were some that took months because we had time. We really thought about it and we realized the deals that ended up doing well or that.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Building it through. So that's kind of how we think about boating. And fun too, it's pretty similar. But now there's three partners. So seven deals per partner per year is kind of the max. And four of those seven deals, it can be a single partner positive for the deal to go through. And then three of the deals, you have to have at least one other partner support you. So also trying to create a balance of conviction consensus, but at the same time, now you have three partners, your odds are even worse that you're going to have three partners line on a deal. We haven't had that, I think, to date. We've done four deals in the fun. So I think just understanding that it's a numbers game. And when you're doing probabilities, it's really hard to get two or three people to have the same conviction on similar deals, which doesn't mean that the deals aren't great because a lot of our winners were deals where we weren't both positives.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Agnostic firm, and you're not specialized. We're doing 1% of our deals one in 100 deals I like, one in 100 deals Jared likes. And for us both to like that same one deal, like the odds just aren't highly unlikely. Us like really just having confidence in each other and saying, as long as I'm comfortable with all the kind of key areas, I trust you. There were two cases in Fun one where I was a negative and Jerry was a positive. One of those deals got passed because the rest of the team did vote. And so the full team votes, but the partner vote is actually what matters, but we do list like we want the team one to vote so that when they become a partner, it's not their first time voting to kind of build commodity, like where the team's voice does matter. But then three, when there are splits, would you take it into account the rest of the teams, whether you're a principal or senior associate? If a partner is positive and the principal or associate on the deal is a negative, that's a flag because we're also doing a lot of work with you. It's like, why is that the case we should dig into that questioning more? So one of the deals that I was a negative we got through because the rest of the team was a positive and one of the deals where I was a negative, the rest of the team also was a negative.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“So, we have a voting process. We scale one to 10. So one to four is negative, five to seven is neutral, eight to ten is a positive, whoever the lead partner is has to be an 8 to 10. Otherwise, it won't go to committee. This has evolved. So for fun one, there are only two partners, Jared and I. So basically the lead partner had to be a positive if the other partner was a neutral, the deal could get done and essentially a neutral means the market's big enough, the founders are strong enough, the business is good enough that there's enough ownership, which are the four boxes that Jared mentioned earlier. But like I personally as the other partner don't have conviction. There was a number of reasons why that would be the case. You're not talking to the founder on a daily basis, oftentimes we're texting these founders back and forth before we do deals. You weren't on the reference calls, so you just see reference call notes. You don't kind of feel that emotion that maybe words on a page can feel. And so we want a balance of conviction and consensus, but of the 28 deals we didn't fund one, I think two of them, maybe three, Jerry and I were both positives. It's just really rare. I think that's just venture, particularly when you're”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Early round, let's protect our ownership, do at least the next round, and then we can see from there. But I think you just don't really know at that point. Like there may be heat from other VCs want to mark it up higher, but that doesn't necessarily mean that those companies are going to be the ones that return the fund. So that's generally been our approach. And Fun one, we've had 13 companies so far raise additional capital, I think, of the 13, we've done 11 of those rounds. And one of the 13 we didn't because it was the fourth check. So we did a preseed season seed plus, so we didn't do the series A. And then one of the companies that we did, we just didn't have that conviction, as you mentioned. So I think that happens occasionally, but rarely do we not have conviction that close to companies raising their next round. And we want to be supportive to them.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“We typically do pro rata for most of our companies. I mean, unless you fall off a cliff, we're going to do pro rata and we signal that to the founders, part of, hey, we're leading your seed valve. We're going to be supportive in your seed plus or your series A. I think that's really important from a relationship perspective. And some of our founders have mentioned that when they're doing references, like, hey, I did a bridge bowmer for the A and maybe they could have hurt me on terms, but they didn't. I think it's really important that you're supportive of your founders do the tough side and the upside. I think also part of it really led to that is some of the people we had around us supporting whether that's Josh Koplim in the first round and first round also does provide in all other companies or us talking to Ben Horritz and Driesen and him mentioning that you just don't know who your winners are for like a number of years and oftentimes there can kind of be fossiling and particularly in today's market when series A's are six to 18 months after the seed round you just don't know if that actually is a valuable business and so I think our viewpoint is that we have conviction early on we buy up as much ownership as we can”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Want. I think there's benefits you feel relieved, you feel you can be more authentic, more transparent, more vulnerable. I think vulnerable transparency in yourself and authenticity leads to better results. That's really where you thrive. And for Jared and I, ICV was that moment for us working at a black-owned private equity firm was that moment of empowerment for us. And really what led to starting Hurlem Capital. And so I think the same is true for founders. You have a business, but if you're not an authentic bubble or you feel like you're fake or you're really not meant to be where you are, you're not going to be your best sell. And so I think our community allows founders to be their best sells because they're surrounded by people who have the same struggles and past as they have.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Our community event, August, so we had 100 people, our LPs, founders, operators, interns, third parties even, who came. And so one of our founders met two of our LPs and one of them actually is now becoming a customer. And so just like having those rooms where people get to meet each other, where I may not think about that connection, but if you're having a natural conversation, that connection comes from you. I think that's really valuable. And one of our founders even said to us at the event, thank you for this event. It was the first venture event I've been to where I felt welcomed. I've never seen like this level of diversity out of venture event. I think that's partially because we do think about diversity at all levels, like even from our third parties to our LPs. And so when you have those events, you have those online communities, they are more diverse. And oftentimes going back to the value add piece, being a part of that community is valuable for you. When you are typically the only one, it gets tiring. And so when you're not the only one.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Should be able to reach out to our other founders, whether that's through our founders Slack channel or next week. Our founders are going to Deloitte University for two days to do a bunch of series in person and also meet each other and us meet them for the first time for a lot of them. And so how do we really connect a lot of our founders from a network perspective so they can have direct access versus coming to us for every question and then us going to like figure out if we don't know it? Who should they go to? That's just not scalable in our opinion. And so we're always trying to find ways to really make our network be scalable to our founders and remove us from that process.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“We have key four value add buckets, so fundraising is one. I mean, we lead probably 80% of our deals and then help our companies fill the rest of their syndicates. Two is marketing. So we've built a pretty big brand pretty quickly so we understand what it means to build a brand from the bottom up. And then we also have a partnership with eight agencies that offer each of our companies $100,000 of free marketing services, which has been really helpful for our companies, finance. So just given our backgrounds in banking and private equity, we really know how to help we've done two acquisitions. One of our companies got acquired. We've done working capital analysis early pandemic, did a bunch of cash flow analysis for our companies to help them think through firing people, cutting back, furing, et cetera. And then lastly, network, whether that's our operators, the number of networks we built across from customer base, how do we give our founders access to others? I think we definitely take more of a community fund approach similar to first round or lower hippo versus a partner approach like the SQAs of the world. We do think we should not be the hub and spoke model to help you.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Whatever the market throws at you, whatever opportunities are coming down the pipeline. It's not easy, right? It takes a lot of triangulation, it's dependent on our questions. Over time, you start to develop that intuition as well as those signals. To help you know that you're going in the right direction.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Looking for founders that have everything, we're looking for people that are exceptional on those critical dimensions. So if you're able to sell us on your business, it's obviously great. Like you're able to tell compelling story. Great storytelling will definitely help you be successful in this process. For people that have big visions. You want to change the world? Do you want to scale a company? Will you be? Capital shows up and you have traction will you build a venture scale company? Those are all things that we're looking for. Outside of that though, Helpful if you're technical, like if you either know how to build a product You know how to oversee other people building a product, that also helps and helps us feel comfortable that you're going to be able to iterate and adapt to.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Are you actually thinking about how do you efficiently raise capital, spend capital, make sure unit economics are great, make sure you're growing at a rate that makes sense. So these are some things initially that we're most focused on. Primarily, we assess this through. Dildas process. There's a lot of signals, but it's also through references. And so if you had a previous preced round, we're definitely talking to your other investors. We're still collaborative. And so sometimes we'll talk to other people who are thinking about bringing this. So through that triangulation, we're able to discern it and really find the ways to find the best entrepreneurs.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“We look for four key things and opportunities. So it's teams, market, a strong product in good terms, good ownership. But yeah, we can talk about the team to start. We're really looking for folks who, if you have experience, that's always a premium. If you've been a repeat founder, that's great too. But we're really looking for certain characteristics that we think mean you'll be successful. So we're looking for passionate founders. We're looking for great founder market fit. Are you uniquely qualified to be doing what you're doing? We look for grit. Are you resilient? Will you get through the highs and lows? Will you be able to adapt in dynamic situations? Do you have a nose for the money? It's one thing to have a big vision.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“They see themselves and us. They know that we'll support them how we can. They know that we are on a trajectory. So we're not sunsetting in our career. We're not later on after we have all success. It's like, no, this is our business. We want to be doing this for 20 or 30 years. And we're going to continue to increase our capabilities. We want to scale. We want to have a bigger team. We want to find new ways to be helpful. And we also want to bring you all together. That's really been the feedback that we're getting on people like us. The fact that we're at our fun size means that we can be competitive with terms. We're efficient. We can get deals closed quickly. We don't spend time with things that aren't economics or control. And I think people see us as easy to work with. So now we're in the point where our founders, we have enough critical mass of founders where they're providing high references. We've been called the best firms that folks have worked with after they've been in multiple startups.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“interesting i think the market has changed a lot since we started i mean in the beginning i think founders were saying hey like we just love having this option and you guys see us and we're happy to have this potential source of capital now it's like a lot of the founders we ended up backing do have options and they're choosing us because they're mission driven but how we win deals i think one is our brand people love the fact that we have a platform we have 306 000 followers on social media we have a podcast we have a newsletter we've had amazing partnerships with big corporations endowments a pension fund foundations and people just excited about how we've been able to kind of bend the world to our will a little bit in a short amount of time being able to be magnetic force for folks people also like our hustle i mean you know we're young”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I agree. I mean, we see our mission as being our ethos. It definitely drives us, keeps us through the highs and lows. But it's pulling people in. We attract founders. We attract interns. We attract LPs. We attract operators. And I think it also helps us be competitive in this VC game all kind of take us to sourcing. You have to find the best opportunities. You have to win the best opportunities. Then you hopefully can add value down the road. But that finding and that winning, our mission really puts us at an advantage. And so really we're putting out our signals, hey, here's where we're about. And it means that we're going to be more competitive than others. One of our first LPs who happens to be a GP, a very successful CSH VP. He was saying, hey, like, we win 90% of the time, but I think if we were going against you guys for a person of color or woman, that would be lower. And we've kind of leaned into that and used it as a to play to our strengths. And we know that for this market, we're going to see the best opportunities.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Was at the largest impact can be from giving equity and ownership to diverse founders. And a lot of them are going to want to help their communities. And that's what we've seen, particularly for founders that choose Harlem Capital. We're very clear about our mission. We're very transparent. And so if you're a diverse founder who identifies with what we're doing and resonates with you, typically you care about diversity, you care about some level of impact beyond yourself. Otherwise, you wouldn't choose just as your lead investor. And so I think there's a lot of alignment between the founders that are opting in to have us lead their rounds. And so we have full confidence that once they are successful, they will better improve their communities. And that may not be true for all founders, but I think that will be true for the majority of the founders.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Diverse founders are already so challenged from getting capital, from having support. We just want to support them. We don't need to create an additional barrier as a diverse founder. You also need to Have an impact mission. I think that's just a double barrier. It doesn't mean it's wrong. I think it just creates another added layer when they already have so many other challenges. And our general view.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“The words matter, but largely because of how dollars get allocated, just from what we've seen from fundraising, once you get grouped into an impact bucket, usually they're magnitude smaller than the main buckets. And so I think it changes how many dollars you get allocated. I think oftentimes off of from an impact measurement perspective, like, yes, we do measure things. We're pretty data driven, but also a lot of impact funds maybe they want to force you to invest in companies that are only in certain. Communities, or they want to have your companies be only tackling certain issues, whether that's climate change or poverty or food. And I think our view was just that.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Heard you mention at the beginning something about not an impact firm, but a firm with impact. A lot of things to accomplish, a lot of different ways that accomplishments get measured. As a venture firm, tell me a little bit more about that nuance and ultimately how you will measure your own success.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“View the impact lens, and I think the broader ecosystem, like we saw very strong correlation between the race and gender of VCs to the founders. And so we just knew like, hey, we have to have more diverse investors. And I think part of that also as far in program, like Harlem Capital will not be the way that this changes. Like we are one fund. We invest in 30 to 40 companies per fund. That's a very small number. You think about the global scale adventure. And so how do we also empower other That advocate of those firms invest in more diverse founders. And that's kind of how we viewed other VC funds and what can our impact be on those funds externally.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“And so we do think giving diverse finders at Queen ownership and hopefully those founders that are successful typically diverse teams hire more diverse teams. And so whether that's the next PayPal that's created, hopefully those diverse teams that are successful, the next 10, the first 10 employees of that company will go on to create 10 more unicorns that are diverse-led and they're hiring more diverse teams and it kind of becomes a trickle effect because those founders now become new founders, they become angel investors, they continue to support other founders or operators from an impact perspective. That's how we”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Like to say, like, we're not an impact fund, we're a venture fund with impact. From a value creation, obviously return capital to our LPs and hopefully make our diverse founders wealthy To that extent, we think the value creation is closing the wealth gap. So we've done a lot of research, linked a lot of research. And fundamentally, the way you close a wealth gap is typically equity and ownership.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“And that recognition of the founders that you're serving, the ecosystem that you're creating, your role in that ecosystem has always resonated with us, and I'm sure it does with others as well. Let's move over to how you harness that ecosystem towards use and towards value creation. So you've taken incredible steps to start and create this ecosystem. You apply that in terms of an investment strategy. Tell us a little bit more about your view of venture and the kinds of firms that you're looking to back and the kinds of founders that you're looking to back in terms of their creation of value.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Are also diverse, and so how do we have operators who can either be advisors to our companies, do webinars for our companies, and even potentially angel investing our companies? And even from the LP side, 42% of our second fund, more diverse LPs, diverse women LPs. And so people who invest as LPs and funds typically obviously are really successful, but how do we continue to diversify assets for diverse LPs? And a lot of our LPs have also been helpful to our companies. And so really think about the broader ecosystem. I think that's really important for us to be successful. And obviously it creates a lot more work and some LPs may think it's a distraction because ultimately the number one goal is performance and how do you have your companies be successful by I think our view is that in order for our companies to be successful we have to do that maybe other traditional VC funds don't have to worry about because Silicon Valley exists for other founders but doesn't exist for the founders that we're serving.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“We kind of think about it like ours are Harlem Capital Flywheel. So I think traditional VC is very much a VC founder relationship in most of what VC does is focus on just the founders. We've kind of taken an approach where yes, we want to invest in diverse founders, but I think in order. To have diverse founders flourish, we need to create diverse ecosystems. They're not isolated. And so I think to some extent, that's why we have our intern program. We've had 70 interns and 18 of them now work in venture. We've had an angel program with six diverse operators who work at tech companies who basically give them our insights of how do we angel invest successfully and how can they do that so the friends and family around, we can create more early stage investors. We've got about 100 plus operators in our network.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Henry had it exploring this issue of ushering in that change. You mentioned earlier the mentors and the guidance that you were getting from others early in the process. And Jared just spoke about how the research that you encountered along the way led to the direction of the firm. Can you talk a little bit more about your views on the importance of that community and how that interacts with and shapes the founders that you're pursuing now?”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Diverse Czech writers who are focused on backing diverse entrepreneurs and then helping to fill capital because it's a very subjective industry and people can say, hey, we have these themes. We're looking at all these traits, but ultimately you're betting on people's future what they have not done yet. If you see yourself in someone you have more in common, you have greater affinity. It's more likely you're going to be supportive. So we want to be that for folks that haven't gotten historically. The biggest step that we saw was that women of people of color get about 4% of VC funding, what are 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. It does not make sense and doesn't have to be this way. And we're trying to usher in that change for the world.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“We see venture capital as being an amazing way to quickly build massive companies that can impact the whole world. And women and people of color have essentially been locked out or severely, really underinvested in. So we got there later, I think in the beginning, we just saw that we had a very diverse network because we went to different schools, we're in different diversity programs, and we knew a lot of capable people who had the talent, who happened to be people of color and women. And as we started angel investing, we saw that they were having a hard time raising money or it was taking longer or they were getting worse terms. And we thought none of these things should be true. As we did more research, we found that there's a really high correlation between the race and gender of Czech writers and banners that get funded on a percentage basis. And the really club nature of EC has not really been conducive for this change over time. We see the solution as having more”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“You mention the platform that you're building and the appeal of that to entrepreneurs and also to LPs. So let's explore that platform that you are building as an LP. We of course look for those things that you mentioned. We also look for how managers think and how the philosophy of what a manager's worldview is serves as the platform for the value creation activity that they're doing. So let's explore that investment philosophy or worldview. Share a little bit about your fundamental beliefs around market structure and opportunity and how that interplays with that opportunity that you've identified for Harlem Capital.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. We say we're. Doing the same thing you are in a different way. I mean, we're trying to build a platform and a scalable firm, multiple funds, multi-stage. And there's not that many people of color who are young, especially who have done it. And so that's actually one way that we are appealing to our founders saying, hey, we actually understand we have this lived experience and they resonate with that and it's able to help us build successful partnerships.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“That authenticity of your story, it's that risk, it's that leap you just spoke about taking that leap out there. That's what you're doing with founders and with entrepreneurs and that authenticity in terms of having lived that experience yourself, I'm guessing, resonates with the founders and entrepreneurs that you're dealing with now.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“And for some people that would be paralyzing, but for us, it worked out pretty well because we were able to really be pretty thoughtful about everything we were saying, making sure we're poking holes in our own presentation, our own strategy. So by the time we got in front of folks, we had it pretty tight. That's kind of how we thought about it. And we really did use our angel truck record as a way to build credibility and build traction and then just paint the vision ultimately for what we were going to do. LPs look for three things. team strategy and track record tracker was a thing we didn't have as much of but we're able to sell them on the first two”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source
“It was an amazing way to learn really quickly and then be prepared when we did get in front of some other individuals and some institutions. But from my vantage point, I was scared about the debt we had. I was scared about. Not being successful.”
2021-12-16 · Capital Allocators · Jarrid Tingle and Henri Pierre-Jacques – Harlem Capital (Manager Meetings, EP.24) · IDENTIFIED FROM THE TRANSCRIPT · source