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Harvard Management Company company logo
Endowment
FINANCIAL | Asset/Financial Management
hmc.harvard.edu

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Investments

9

Portfolio Exits

2

Service Providers

1

About Harvard Management Company

Harvard Management Company (HMC) is a subsidiary of Harvard University, providing investment management of the University's billion dollar endowment and related financial assets.

Harvard Management Company Headquarter Location

600 Atlantic Avenue

Boston, Massachusetts, 02210,

United States

617-523-4400

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Research containing Harvard Management Company

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CB Insights Intelligence Analysts have mentioned Harvard Management Company in 1 CB Insights research brief, most recently on Jan 31, 2019.

Latest Harvard Management Company News

Without aggressive funding in clean-energy and climate solutions, the world we know could perish

Sep 23, 2021

Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Investors and finance professionals know what they put their money in can often be influential on a global scale. A growing number of them are realizing how their funds can also help lead the global transition away from fossil fuels. In a multipanel discussion at Climate Week NYC on Wednesday, several investors and finance professionals highlighted the industrywide work needed to prevent catastrophic conditions described in the latest report from the Intergovernmental Panel on Climate Change. Investors and financiers determine which clean-energy companies and projects receive capital through where they choose to invest money and provide resources. They also evaluate and determine risk, known as underwriting. The divestment movement actively encourages financial-services companies to sell their fossil-fuel assets while bringing attention to how they fund and insure industries that produce most of the world's carbon emissions. Divestment among investors slowed in 2020 , with more investors seeking to collaborate with companies they own and other investment firms in implementing more sustainable operations and carbon-emissions targets. This includes organizations like the United Nation's Net-Zero Banking Alliance or the investor-led Climate Action 100+ . "It's not something that any one asset owner or asset manager or even corporation can do on their own. It's going to require a collective effort," said Michael Cappucci, managing director of compliance and sustainable investing at Harvard Management Company. At the California Public Employees' Retirement System, the largest public state pension fund in the US also known as CalPERS, funding efforts to mitigate the climate crisis have become an especially urgent issue. "As I see the smoke from the wildfires drifting across my garden, I know the people battling those fires are CalPERS members; they're firefighters, the first responders," said Anne Simpson, managing investment director for CalPERS' board governance and sustainability. "The question of risk isn't theoretical or far away. It's here, right now , as Fatboy Slim would say. And we need to be scaling our action in response." Cappucci said a big challenge is the gap in data and methodologies needed for companies like Harvard Management to effectively neutralize its carbon emissions, also known as "net-zero." Cappucci's firm has actively reached out to other firms and organizations for assistance. Simpson said markets need more information on climate-crisis risks, including the true price of carbon , total emissions, and fossil-fuel subsidies . Encouragingly, both the US Securities and Exchange Commission and the International Financial Reporting Standards Foundation — which sets the rules for accounting standards for public companies — are looking at the increasingly popular framework for climate-related financial information established by the Task Force on Climate-Related Financial Disclosures . The UK-based insurance firm Aviva's plan to become net-zero by 2040 includes shifts in its operations, supply chain, asset ownership, as well as factoring in the sustainability commitments of its investments. Aviva has also pledged to stop selling insurance for companies making more than 5% of their revenue from thermal coal or unconventional fossil fuels by the end of this year. The insurer will also sell its assets from companies that make more than 5% of their revenue from coal by the end of 2022. "That's really trying to make that initial stand as explicit as possible," said Jason Storah, CEO of Aviva Canada. "We really want to work and engage with other companies." Coal and fossil-fuel companies can continue to be underwritten or owned by Aviva if they sign up for clearly tracked targets to lower their emissions. Still, Simpson said investors need to do more than advocate energy efficiency and change from fossil-fuel suppliers and producers; their work extends to the companies and industries that consume them as well. "That means transformation of manufacturing, automakers, steel, cement, across agriculture, transport, utilities, the way we get around, the way we make things, the things we eat, the way we connect with each other. "  Sign up for notifications from Insider! Stay up to date with what you want to know. Subscribe to push notifications

Harvard Management Company Investments

9 Investments

Harvard Management Company has made 9 investments. Their latest investment was in Runway as part of their Seed VC on November 11, 2021.

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Harvard Management Company Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/17/2021

Seed VC

Runway

$2M

Yes

1

9/8/2021

Series C

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$99M

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10

6/15/2021

Seed VC

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$99M

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10

5/17/2021

Series E

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$99M

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10

5/3/2021

Series A - II

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$99M

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10

Date

11/17/2021

9/8/2021

6/15/2021

5/17/2021

5/3/2021

Round

Seed VC

Series C

Seed VC

Series E

Series A - II

Company

Runway

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Amount

$2M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

Harvard Management Company Portfolio Exits

2 Portfolio Exits

Harvard Management Company has 2 portfolio exits. Their latest portfolio exit was WeWork on October 23, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/23/2019

Corporate Majority

$991

54

00/00/0000

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10

Date

10/23/2019

00/00/0000

Exit

Corporate Majority

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Companies

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Valuation

$991

Acquirer

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Sources

54

10

Harvard Management Company Acquisitions

2 Acquisitions

Harvard Management Company acquired 2 companies. Their latest acquisition was Solum Partners on October 08, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/8/2020

Spinoff / Spinout

1

2/15/2017

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$99M

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10

Date

10/8/2020

2/15/2017

Investment Stage

Companies

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Valuation

Total Funding

$99M

Note

Spinoff / Spinout

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Sources

1

10

Harvard Management Company Service Providers

1 Service Provider

Harvard Management Company has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

Partnership data by VentureSource

Harvard Management Company Team

13 Team Members

Harvard Management Company has 13 team members, including former Chief Executive Officer, President, Mohamed A El-Erian.

Name

Work History

Title

Status

Mohamed A El-Erian

Chief Executive Officer, President

Former

Jane Mendillo

Chief Executive Officer, President

Former

Jennifer Xia Spradling

Stanford University, Bain Capital, and McKinsey & Company

President

Former

Satya Kaliki

Chief Technology Officer

Former

John Galanek CTP

FX Transparency, Wellington Management, and Bank of America

Senior Vice President

Former

Name

Mohamed A El-Erian

Jane Mendillo

Jennifer Xia Spradling

Satya Kaliki

John Galanek CTP

Work History

Stanford University, Bain Capital, and McKinsey & Company

FX Transparency, Wellington Management, and Bank of America

Title

Chief Executive Officer, President

Chief Executive Officer, President

President

Chief Technology Officer

Senior Vice President

Status

Former

Former

Former

Former

Former

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