Zeal Capital Partners announced the end of the second fund on Wednesday, raising $ 82 million. The limited partners in the fund include Citi Impact Fund, M&T Bank, Wells Fargo and Spelman College. He hopes to invest in at least 25 early stage companies, writing check sizes of between $ 1 million and $ 2.3 million, with 50% of mutual capital intended for investment.
Speaking to TechCrunch, Nasir Qadree, Founder and CEO of Zelos, This Fund II will focus on financial technology, health care and the future of work, as his other fund did. He has already invested in at least five companies, including Maternal Health Platform Seven Starling and Fintech Debbie.
Qadree described the funding environment for fund II as “undoubtedly provocative” due to macroeconomic uncertainty, LP re -examination and the stricter distribution windows.
“But these headings also sharpen our strategy and have confirmed the power of our approach,” Qadree said. “I am proud to share that more than 80% of our limited partners from the Zilia Fund I continued with us at fund II, a sign of deep belief in our ability to return fixed category definition companies.”
Black and Foundation Foundation as they have done some significantly closes recently.
Slauson & Co. It announced the $ 100 million fund II last September, followed by Illumen Capital, founded by Daryn Dodson, announcing the increase of a $ 32.75 million fund in November. This year, Sydney Thomas Symphonic Capital has announced the increase of a $ 13.5 million inaugural fund, while Cherryrock Capital, founded by Stacy Brown-Phailpot, announced the increase in the $ 172 million fund.
Some of these chapters are generally on their mission, while others are clearer in their goal under -sought communities, showing that appetite still exists for such funds, despite the pressure of today’s US presidential administration and among those who support it, against anything.
Overall, the zeal, a more general fund founded in 2019, has invested in 40 companies. Fund I announced the Close at $ 62.1 million in 2021.
