TPG is taking a non-controlling, minority stake in Harlem Capital Partners, an early stage venture capital firm and will be making an unspecified commitment to the firm's first fund, TPG spokesman Luke Barrett said.
Terms of the deal are not being disclosed.
Harlem Capital aims to back minority and women founders across industries in the U.S., with a mission to invest in 1,000 diverse founders over the next 20 years.
"In its short lifespan, HCP has established itself as a go-to partner for minority founders and women-led businesses, many who are providing new and innovative solutions to different problems," said Jon Winkelried, co-CEO of TPG, in the news release.
In May, KKR & Co. launched a talent partnership with Harlem Capital to help KKR recruit underrepresented investment professionals, particularly women and minorities.
Some of Harlem Capital's investments include Aunt Flow, a provider of women's hygiene products; Blavity, a media platform focused on black millennials; Paladin, a global pro-bono management platform for legal teams; and Moving Analytics, a digital platform for cardiac rehabilitation and prevention.
