Featured in the 2019 Forbes "30 Under 30" Social Entrepreneurs, Harlem Capital Partners (HCP) launched in 2015 to help women and minority entrepreneurs gain access to capital and create jobs in their communities. Jarrid Tingle ’09 is a co-founder of the early-stage investment firm (also featured in Forbes and Black Enterprise in 2018). Tingle graduated cum laude from the Wharton School of the University of Pennsylvania in 2013 and is currently an MBA candidate at Harvard Business School. He is currently a mentor for the TEAK program, which prepares middle school students to get into the nation’s most selective high schools and colleges.
Did your experience at Peddie influence your decision to found Harlem Capital Partners?
I had an incredibly enriching learning experience during my junior year in AP U.S. History. In addition to exploring America’s successes, we also discussed the structural inequalities that have persisted for minorities in this country, especially regarding social mobility and wealth. After this course, I decided to focus on addressing wealth inequality through my career in financial services and investing.
HCP aims to fund 1,000 diverse entrepreneurs. Why is changing the face of entrepreneurship important?
Women and minorities represent the majority of the U.S. population, but they are severely underrepresented as heads of large companies or venture-backed startups. The wealth gap persists for minorities even when their education, consumption patterns and family structure mirror that of their white counterparts. Changing the face of entrepreneurship by empowering diverse founders will help close the wealth gap for minorities and income gaps for women faster than would be possible under (still necessary) diversity and inclusion initiatives at larger companies. We need more women and minority entrepreneurs to spur new forms of innovation, create high-quality jobs and reinvest in their communities. These entrepreneurs are tackling everyday problems that others cannot or will not address, like inclusive educational tools, media platforms or more functional clothing, and backing these founders addresses market inefficiency.
In your Forbes interview, you mentioned that working at a Black-owned private equity firm, ICV Partners, helped you start HCP. Peddie parent Willie Woods P’18 co-founded ICV Partners. How did this work experience assist or inspire you?
Working at ICV Partners under Willie gave me the confidence and experience necessary to start my own investment firm. Seeing professionals who look like me successfully raising funds and generating strong returns for their investors made it easier to visualize success as a fund manager. The ICV team also treats people well, protects their reputation, and stands by their word – all of which rubbed off on me.