Spelman College Invests In Zeal Capital Partners’ $82M Fund Focused On The Future Of Learning And Work, Plus Fintech And Health Care
Spelman College is investing in the future of learning.
According to a press release shared with AFROTECH™, Zeal Capital Partners, a Washington, DC-based venture capital firm founded by Nasir Qadree, has secured new funding that will go towards opportunities in financial technology, health care, and the future of learning and work.
The firm has secured $82 million for its Zeal Fund II, which brings its overall managed assets to $186 million. Investors in the round include limited partners Citi Impact Fund, M&T Bank, MassMutual, Wells Fargo, Zaffre Investments, and Spelman College. Returning investors from its previous raise include Capricorn Investment Group, Hampton University, and nearly 80% of the other investors from Zeal’s Fund I.
“In a market that rewards discipline, efficiency, and resilience, the confidence of our limited partners allows us to champion bold founders who are building enduring companies,” Qadree said in the press release. “We are committed to continuing to deepen our expertise across our three categories, and championing visionary founders who are addressing challenges within critical systems and poised to become tomorrow’s market leaders.”
Zeal Capital Partners had previously invested in over 40 companies, and through its second fund it aims to invest in nearly 25 early-stage companies during the next four years with check sizes ranging from $1 million and $2.3 million. Some of that capital has already been deployed to five companies including Seven Starling (maternal mental health), Debbie (B2B fintech), and Rising Team (team performance).
Furthermore, half of Zeal Fund II’s capital will be used to ensure it can do follow-on investments to scale growth.
“The systems-level challenges that have long felt insurmountable — including access to education, economic mobility, financial health, and healthcare — are now among the largest and most urgent market opportunities,” Qadree said. “As innovation accelerates with AI (artificial intelligence) and broader technological shifts, the capital we continue to deploy is critical to scaling solutions that not only deliver outsized returns but also reimagine the very structures that shape our society. Our growth reflects the maturity of our investment platform and our firm’s enduring belief that Inclusive Investing™ defines market leadership.”
