Inside Eniac: From a $1.6M Fund to $220M

Nihal Mehta co-founded ENIAC Ventures nearly 16 years ago with a $1.5 million fund. Today the firm invests out of a $220 million fund and has become one of New York's most active early-stage backers of AI-native companies. In this episode, Nihal breaks down how he's built an "army of AI agents" using Claude to source deals, screen inbound pitches, and even run diligence on a live term sheet, plus why he believes New York, not San Francisco, is where consumer and enterprise AI applications will be built and won.The conversation also covers how ENIAC has stayed lean and partner-centric since day one, why density of ambition gives New York an edge San Francisco can't replicate, and the philosophy behind Nihal's self-proclaimed "human rolodex," including Pitch and Run, the global founder running community he co-founded, and Human Unicorns, his deep dive into the people behind billion-dollar outcomes.Subscribe for more conversations with founders, operators, and investors building what's next.Our podcast is sponsored by Gunderson Dettmer #PoweredByGundersonTimestamps:0:00 Intro0:58 Meet Nihal Mehta (and His Dog, Steve)1:19 From a $1.5M Fund to $220M: How ENIAC Has Evolved4:46 Building an Army of AI Agents Inside a VC Firm6:07 Using Claude to Kill FOMO on Inbound Deals8:06 How Claude Diligenced a Live Term Sheet10:27 What Happened With That Deal12:41 What New York Has That San Francisco Doesn't17:02 Signal vs. Noise: Spotting Real AI Companies19:35 Why New York Is Primed for the AI Application Layer22:39 Becoming a "Human Rolodex"26:04 The Jain Philosophy Behind Giving Without Asking28:20 Pitch and Run: Building Community Through Running33:05 Human Unicorns and the Friends Who Built Billion-Dollar Companies36:36 Reputation, Consistency, and Playing the Long GameMore on Nihal:https://www.linkedin.com/in/nihalmehta/More on Brandon:https://harlem.capital/team/brandon-bryanthttps://www.youtube.com/@Wallstreetpaperhttps://x.com/wallstreetpaperThe Winners Welcome Podcast, by Harlem Capital, brings elite founders and top investors into thoughtful conversations on pushing past possible, sharing the conviction, standards, and lessons behind building generational companies.Harlem Capital is a venture capital firm that backs the next generation of winners. The firm partners with exceptional founders with the irrational motivation to build generational companies. All Winners Welcome.We’d love to hear from you. Share your feedback at info@harlem.capital or DM us @HarlemCapital, and if you’re enjoying the podcast, please subscribe, rate, and review.