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Bailey McCann, Opalesque New York: Zeal Capital Partners a Washington DC based venture capital firm has closed its second fund on $82 million.
The close of Zeal Fund II marks a significant expansion of the firm's institutional investor base. Zeal's limited partners now include Citi Impact Fund, M&T Bank, MassMutual, Wells Fargo, Zaffre Investments and Spelman College. Notably, nearly 80% of Zeal's Fund I investors-including Capricorn Investment Group and Hampton University- continued their investment partnership in Zeal Fund II.
Zeal Fund II will invest in approximately 25 early-stage companies over a four-year investment period, with a strategy designed to lead or co-lead seed-stage financings. The mandate will target initial check sizes between $1 million and $2.3 million, with the option to serve on the Board of Directors when appropriate to support the growth of portfolio companies. In addition, Zeal Fund II will reserve 50% of its committed capital for follow-on investments, ensuring the firm can continue backing its highest-performing companies through subsequent stages of scale.
To date, Zeal Fund II has invested in five companies, including Seven Starling, a maternal mental health platform, and Debbie, an innovative B2B fintech company focused on rewarding savings, debt repayment and other positive financial behaviors. Zeal also led the $8 million Series A in Rising Team to scale leadership development and team performance in the modern workplace...................... To view our full article Click here
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