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Black-Owned Cocktail Company Receives $5M Investment From Fellow BIPOC-Owned Company Uncle Nearest Premium Whiskey

In an effort to diversify the cocktail sector, Hella Cocktail Co. has received $5 million in funding. Hella Cocktail Co.

Jun 14, 2022

Zeal Capital Partners Announces $62.1M Inaugural Fund, One Of The Largest From A Solo Diverse Manager

Today marks another major milestone for venture capital firm Zeal Capital Partners with an oversubscribed fund that wants to advance economic mobility. In a press release shared with AfroTech, Zeal Capital Partners — a firm dedicated to narrowing the wealth and skills gaps through its investments — has announced the raise of a $62.1 million inaugural fund, outperforming its initial $50 million goal. This makes it one of the largest funds from a solo diverse manager and one of the largest first-time funds for any solo general partner. Funding for this raise was led by Truist and PayPal, with participation from other backers such as Synchrony Financial, Bank of America, Foot Locker Inc., RockCreek, Hampton University Endowment, Southern New Hampshire, Skoll Foundation and Gary Community Investment. Of those investors supporting Zeal’s new fund, Peter Sanborn — managing partner of PayPal Ventures — said that “Zeal Capital stood out to PayPal because of our shared belief that access to...

Jul 12, 2021