22-Year-Old Launching Harlem’s First VC Fund | TechCrunch

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John Henry, founder at Cofound Harlem and Cofound Ventures

John Henry, founder at Cofound Harlem and Cofound Ventures

John Henry, the 22-year-old founder of accelerator program Cofound Harlem, has announced Cofound Ventures, Harlem’s first venture capital fund. Cofound Ventures, which will officially launch next year, is looking to raise a total of $8 million, with $3 million going toward running the nine-month accelerator and funding startup stipends, and $5 million toward further funding Cofound Harlem startups.

“Harlem has never had a fund,” Henry, who sold his on-demand laundry startup in less than two years, told TechCrunch. “It’s a very special town. There’s a lot of recent development with Columbia expanding, and it’s the perfect time to put up the first fund.”

All of New York City’s VC firms are located below Central Park, according to the Wall Street Journal’s 2011 VC mapping project (see modified version below). The majority operate in midtown Manhattan, with several recently opening up shop in Chelsea, Soho and the Flatiron District. Cofound Ventures, on the other hand, operates in East Harlem on 5th Ave and East 118th St.

Read more: 22-Year-Old Launching Harlem’s First VC Fund | TechCrunch

Related: Regalii, A Startup In NYC’s Washington Heights, Uncovers Where Immigrants’ Remittances Really Go | TechCrunch

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