Summary List Placement
As early-stage fundraising has gotten hotter, VCs have been closing on deals faster — and things are no different at Harlem Capital, which recently announced a new fund backed by investors such as Apple.
The diversity-focused venture fund has cut down its average deal time from 21 days to 14 days over the past year, Harlem Capital principal Gabby Cazeau told Insider. But that doesn’t mean the firm has scrimped on vetting the startups it backs, she added.
Due diligence recently became a hot topic among investors after Spark Capital severed ties with camera-app maker Dispo, following an Insider investigation into an allegation of rape involving a former member of cofounder David Dobrik’s YouTube Vlog Squad.
But Cazeau, who first joined Harlem Capital as an intern in 2018, says she has found a way to speed things up: by talking to people inside the same industry as the founders she’s seeking to vet. That used to be one of the last steps in the deal process, she told Insider, but recently she’s moved it up as one of the first tasks on her list.
In other ways, the firm’s process hasn’t changed all that …read more
Source:: Businessinsider – Tech