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If you’re looking for a full crash course on some of the ins and outs of venture capital funding, you may want to keep reading. As the founder and managing partner of Zeal Capital Partners, located in Washington, D.C., Nasir Qadree, knows the ins and outs when it comes to the world of venture capital. Now he’s on a mission to spread his knowledge with the world on the latest episode of AfroTech’s Black Tech Green Money podcast with Will Lucas.
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...
Diversity, equity, and inclusion (DEI) technology company, Kanarys just announced a historic $3 million seed round, and one of the best parts? It’s the first Black and female-founded DEI technology platform ever. Kanarys — co-founded by Mandy Price, Chief Executive Officer, and Star Carter, Chief Operating Officer — helps to diagnose, prioritize, and optimize DEI efforts in the workplace by gathering specific, actionable insights. Courtesy of Kanarys Led by Nasir Qadree and Zeal Capital Partners’ Inclusive Investing™ fund, the historic round also includes Jigsaw Ventures, Segal Ventures, Morgan Stanley, Revolution’s Rise of the Rest Seed Fund, and 100 Black Angels Fund. We spoke to CEO and co-founder Mandy Price to learn more about Kanarys’ vision, what DEI means to her, and what the funding round means for future Black women founders to come. This interview has been edited for clarity and length. AfroTech: Congratulations on your historic seed round! Tell us in three words what...
When it comes to acquiring seed capital to start a business, many American entrepreneurs find themselves overlooked by venture capitalists and struggling for financial-backing support. With less access to financial services, companies led by diverse management teams are left under-invested and vulnerable to failure. To combat this, venture capital firms are aiming to take the lead in order to empower the next generation of diverse business leaders. As part of the inclusive venture capital movement, Zeal Capital Partners — a Washington, D.C. -based inclusive investment vehicle for early-stage businesses — has created a solution. To continue its mission of investing in rising ventures and level the playing field to help bridge the country’s wealth and skills gap, it has just launched the Inclusive Investing™ Fund . Zeal’s $50 million fund — which is anchored by PayPal, The Alfred P. Sloan Foundation, a large university endowment, family offices, notable business leaders, and other...