Zeal Capital Partners announces close of $82M Fund II

Zeal Capital Partners closed its second fund at $82 million, backed by major financial institutions including Citi Impact Fund, M&T Bank, and Wells Fargo. The fund will invest in 25 early-stage companies across fintech, healthcare, and future of work sectors, with check sizes ranging from $1-2.3 million. Despite challenging fundraising conditions, over 80% of Fund I investors continued into Fund II. This closure joins a trend of successful Black-led venture funds raising significant capital, including recent closes by Slauson & Co., Illumen Capital, and Cherryrock Capital.