credit: Wikimedia Commons

Jarrid Tingle and Henri Pierre-Jacques, cofounders of the firm, Harlem Capital, are trying to channel venture and private capital for minority and women entrepreneurs.

Harlem Capital plans to back 1,000 young companies with diverse founders over the next two decades, opening these channels of private capital to those who have been overlooked by traditional investors.

Now, Tingle and Pierre-Jacques, and Harlem Capital's two other cofounders, Brandon Bryant, 29, and John Henry, 26, are making a big breakthrough. TPG Capital, the $108 billion in assets private equity giant cofounded by billionaires David Bonderman and Jim Coulter, is taking a minority stake in Harlem Capital and becoming a limited partner in its first pooled fund.

TPG, in partnership with Harlem Capital, plans to increase the diversity of its employee base and inside its portfolio companies.

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