Harvard Endowment Executives Meet with Silicon Valley Investors Amid University Turmoil

Harvard Management Company executives met with leading venture capital and private equity investors in Silicon Valley last week amid investor concerns over the University’s inadequate response to the Israel-Hamas war and allegations of antisemitism on campus.

Paul J. Finnegan ’75, chair of the HMC Board of Directors, marked an atypical addition to the HMC delegation, highlighting the University’s latest attempt to mend strained relationships with Harvard affiliates and partners.

Finnegan, who recently departed his post as University Treasurer, is also a member of the Harvard Corporation — the University’s highest governing body — which has come under fire for its handling of Harvard’s leadership crisis and the mounting plagiarism allegations against former University President Claudine Gay.

The trip came two weeks after Gay resigned following fierce criticism of the University’s response to the Hamas attack on Israel and backlash from her heavily scrutinized congressional testimony.

During the trip, HMC executives — who manage Harvard’s $50.7 billion endowment but outsource management of most of its assets to fund managers — met with firms such as Sequoia Capital, Kleiner Perkins, and Andreessen Horowitz, according to the Wall Street Journal.

In addition to the regular discussions of portfolio management, the meetings also served as a setting for Finnegan and other HMC executives to assuage any potential concerns from the investors watching tensions unfold at Harvard.

HMC executives also met with Israeli-born investor Elad Gil and Stripe CEO Patrick Collison — outspoken Harvard critics and influential Silicon Valley figures.

The trip also underscored the importance of venture capital to the future success of the endowment. N.P. “Narv” Narvekar, who is entering his eighth fiscal year as CEO of HMC, has prioritized growing the endowment’s exposure to venture capital following a series of lackluster returns that have left Harvard trailing its peer endowments.

But securing investment in the most prominent funds is a competitive endeavor, and members of the HMC have discussed the possibility of the University losing out on future investment opportunities amid campus tensions, according to the Wall Street Journal.

Top HMC executives including Narvekar and Chief Investment Officer Rick Slocum have also been working to ease concerns of other venture capitalists and fund managers outside of Silicon Valley.

According to the WSJ, Slocum was recently in contact with Josh Kushner ’08, founder of Thrive Capital and brother of former President Donald J. Trump’s son-in-law, Jared C. Kushner ’03.

HMC spokesperson Patrick S. McKiernan wrote in an emailed statement Monday that “HMC is fortunate to have strong, longstanding relationships with many investment managers who care deeply about higher education.”

“Given the challenges facing higher education, it is important to engage with our partners and share with them all of the ways that Harvard is actively working to ensure student safety and protect freedom of speech,” McKiernan added.

—Staff writer Sidney K. Lee can be reached at sidney.lee@thecrimson.com. Follow her on Twitter @sidneyklee.

—Staff writer Thomas J. Mete can be reached at thomas.mete@thecrimson.com. Follow him on Twitter @thomasjmete.