Private equity firm Zeal Capital Partners expands to $186 million with the completion of a $82 million fund.
Zeal Capital Partners, a venture firm dedicated to backing diverse founders, has closed its second fund of $82 million after a two-year fundraising period. The investment firm is focused on industries such as fintech, healthcare, and the future of work.
Limited partners for the fund include renowned financial institutions such as Citi Impact Fund, M&T Bank, MassMutual, Wells Fargo, Zaffre Investments, and Spelman College. General partners include Scott Sandell, Executive Chairman and Chief Investment Officer at NEA, and Jason Green, Founder and General Partner (Emeritus) of Emergence.
The completion of Zeal Fund II brings the firm's total assets under management to $186 million across three funds, demonstrating growing confidence in its mission to invest inclusively.
In its press release, Founder and Managing Partner Nasir Qadree emphasized that addressingsystemic challenges like access to healthcare, financial inclusion, and workforce development can drive strong returns and scalable impact.
The expansion of institutional investors now includes a more diverse group, including university endowments, pension funds, healthcare, and insurance companies, alongside general partners from leading venture capital firms. Almost 80% of Fund I investors have continued their investment partnership in Fund II.
Zeal Fund II plans to invest in around 25 early-stage companies over a four-year investment period, with the goal of leading or co-leading seed-stage financings, initial check sizes ranging between $1 million and $2.3 million, and serving on the Board of Directors to support portfolio companies' growth. The fund also reserves 50% of its committed capital for follow-on investments to maintain support for its highest-performing companies.
So far, Zeal Fund II has invested in several companies, such as maternal mental health platform Seven Starling, innovative B2B fintech company Debbie, and Rising Team, which focuses on leadership development and team performance in the modern workplace. Across its funds, Zeal Capital Partners has backed over 40 companies led by diverse teams reimagining the foundations of wealth, health, learning, and work.
Technology is one sector that Zeal Capital Partners, an inclusive investing firm, is focusing on, given their investments in companies like Debbie, an innovate B2B fintech company. The firm's venture capital fund, Zeal Fund II, has secured $82 million from a diverse group of investors, including renowned financial institutions and university endowments, to finance investments in early-stage tech businesses over a four-year period.
