Zeal Capital Partners Closes $82M Fund II, Triples AUM in Five Years

Zeal Capital Partners has announced the close of its $82 million Zeal Fund II, a milestone that brings the Washington, D.C.-based firm’s total assets under management to $186 million across three funds. The raise more than triples Zeal’s AUM in just five years, signaling growing confidence in its Inclusive Investing™ approach and category-specific strategy.

Founded by Nasir Qadree, Zeal focuses on early-stage investments at the intersection of fintech, healthcare, and the future of learning and work sectors Qadree describes as “critical systems” and “urgent market opportunities.” Zeal’s investment thesis is rooted in a belief that tackling systemic challenges like access to healthcare, financial inclusion, and workforce development can produce both strong returns and scalable impact.

The new fund expands Zeal’s base of institutional investors, with LPs including Citi Impact Fund, MassMutual, Wells Fargo, M&T Bank, Zaffre Investments, and Spelman College. Nearly 80% of Zeal’s Fund I backers, such as Capricorn Investment Group and Hampton University, returned for Fund II—a testament to the firm's performance and mission alignment.

Zeal Fund II will target 25 early-stage companies over four years, with initial investments ranging from $1 million to $2.3 million and board participation when appropriate. Half of the fund is reserved for follow-on rounds, reinforcing Zeal’s commitment to long-term support.

To date, the fund has backed five companies, including Seven Starling (maternal mental health), Debbie (behavioral-based fintech), and Rising Team (leadership development). These investments reflect Zeal’s thesis that innovation in financial services, healthcare delivery, and workforce development will drive the next decade of GDP growth and social progress.

“Our growth reflects not just capital raised but a platform maturing in step with the industries we serve,” said Qadree. “We’re here to scale enduring companies that align profit with purpose.”

With Fund II, Zeal is doubling down on its mission to support visionary founders while proving that financial performance and inclusive innovation are not just compatible, but mutually reinforcing.