Latest news with #ZealCapitalPartners
Forbes
17-07-2025
- Business
- Forbes
Meet The Investor Who Sold His Coffee Shop And Raised $186 Million To 'Disrupt' Venture Capital
S ome moments truly last forever. For investor Nasir Qadree, that moment came in 2011 while overlooking midtown New York City in the high-rise office of businessman, corporate connector and political advisor Vernon Jordan. In the room, Jordan—the former executive director of the National Urban League—sat in a grey suit, surrounded by a plethora of photographs with close friends, including former U.S. President Bill Clinton and the legendary entertainer Sammy Davis Jr. Sitting in front of Jordan, and eating a bowl of hot grits, Qadree asked why Jordan avoided the frontlines of the Civil Rights movement during the 1960s. Jordan's reply stuck with him: 'If you truly want to be in a position of power and influence—the boardroom is the way to go,' Qadree, 40, says, recalling Jordan's words. 'That resonated with me,' says Qadree, 40. The boardroom 'creates opportunities to create pathways for the next generation and also disrupt systems.' Years after Jordan's death in March 2021, Qadree continues to apply the advice while also looking to disrupt the venture capital world. In June, Qadree's firm, Zeal Capital Partners, closed on an $82 million raise for its third fund . With the money, Zeal will invest in 25 early-stage companies building enterprise AI software in education, financial, and healthcare–commiting up to $2.3 million per company and requiring a board seat in each. 'There's a lot of deal flow and pipeline across these areas,' Qadree tells Forbes . Since its founding in 2020, Washington D.C.-based Zeal has raised a total of $186 million, with investors including Citi's Impact Fund, M&T Bank, MassMutual, and HBCU endowments such as Spelman College and Hampton University. Zeal now manages three funds, including Fund I, Fund II and Barclays Black Formation Investments. Zeal has also made investments in promising startups, such as Esusu, a fintech company cofounded by ForbesBLK 50 lister Wemimo Abbey. Esusu helps renters build their credit histories and scores by reporting rent payments to credit bureaus. In 2022, the company reached a valuation of $1 billion. Additionally, Zeal is an investor in AI-hiring software company Humanly. This startup has a valuation of $66 million, according to PitchBook. 'We don't call ourselves an impact investment firm,' Qadree says. However, he notes that Zeal does use diversity management teams as a measuring stick when making investments. 'Diversity will always be part of our DNA. The data is very clear – it produces outsized returns.' According to investment firm Fairview Capital Partners, there are more than 1,000 women or minority-owned private equity and venture capital firms in the U.S., and of those firms, 168 are Black-owned. In 2024, Fairview notes that Black-run firms have a median fundraising size of $70 million, down from $75 million in 2023. Despite closing Zeal's third fund, Qadree acknowledges there are real headwinds in raising capital, including elevated interest rates, a slowdown in IPO markets, and global trading tensions. There's also the political landscape. As President Trump shredded Diversity, Equity, and Inclusion (DEI) initiatives after retaking office in January, some businesses have reneged on their DEI plans and reduced allocations to impact-focused funds. 'There are no handouts anymore,' says Calvin Butts, co-managing partner of private equity firm East Chop Capital and a Zeal investor. 'You need to have great ideas and great relationships. You can't just have a good idea and be a bucket list (investment) for someone.' 'I'll always be a Black investor,' Qadree says, when discussing the matter. 'I think what matters the most, given our 50-plus companies on our platform, is showing the progress of those companies and the impact those companies are having to work their way to being category leaders.' A product of Southwest Atlanta, Qadree came of age surrounded by role models. He is the grandson of former NBA player Jackie Moore, who played in the NBA with the Philadelphia Warriors from 1954 to 1957. Qadree tells the story of a young Moore training an even younger Wilt Chamberlain during his high school years at Overbrook in Philadelphia. Chamberlain went on to become a Pro Basketball Hall of Famer and one of the NBA's greatest players. 'You talk about motivation and where it all started,' Qadree says, 'I credit my grandfather.' Qadree's mother worked as an administrative assistant, and his father was a real estate developer. Qadree credits his dad, Tony, for sparking his interest in business. A young Nasir often joined Tony at local holiday parties and performed the job of coat checker. It granted Qadree brief interactions with power brokers, including former Mayor of Atlanta Shirley Franklin, the late U.S. Congressman John Lewis, and Jordan. 'The who's who in business and politics,' Qadree recalls. By 2008, after graduating from Hampton with a degree in marketing, Qadree started his career as a Goldman Sachs analyst. Two years later, he joined State Street Corporation. Founded in 2020, Zeal has raised a total of $186 million, with investors including Citi's Impact Fund, M&T Bank, MassMutual, and HBCU endowments such as Spelman and Hampton University. Photo courtesy of Zeal Capital Partners Along the journey, Qadree also opened a coffee shop in New York City called, The Bees Knees Baking Company. Alongside two friends, they invested roughly $150,000 to start the operation. 'Margins were fickle,' Qadree says. 'But it was fun.' However, working weekend shifts at The Bees Knees, Qadree discovered a passion for venture capital by being 'respectfully nosy.' While cleaning tables, he listened to conversations between entrepreneurs speaking with potential investors. A curious Qadree started to inquire what the entrepreneurs were creating and how startups attracted funding. 'Many of them were building projects that I cared a lot about,' Qadree says, referring to the education and fintech ideas he overheard. In 2015, Qadree sold his stake in the coffee shop, moved to Washington D.C., and started working for Village Capital as head of education technology. The stint led to running AT&T's Aspire fund. In 2020, he launched Zeal and closed on his first fund with investors, including Bank of America and PayPal. 'Zeal aspires to be a true catalyst for economic equity,' Qadree said in July 2021 after raising $62.1 million. Today, flush with new cash and aware of the headwinds facing venture capital, Qadree is betting on his Wall Street and entrepreneurial history to identify unicorn AI startups and founders that other investors ignore. 'We're truly going to democratize acts of capital and think about innovations that are turbocharging economic mobility,' Qadree says. 'There's also an opportunity to disrupt systems so that more folk can get a fair swing at the plate.' Capital Gains: Watch the interview to hear Qadree discuss his vision for Fund II, lessons learned from failed investments, and how Zeal is returning capital to investors. Forbes Meet The Investor Betting Millions On 'Dangerous Founders' By Jabari Young Forbes Inside The Largest Black-Owned Bank In America By Jabari Young Forbes How Former Apple Music Mastermind Larry Jackson Signed Mariah Carey To His $400 Million Startup By Jabari Young
TechCrunch
29-05-2025
- Business
- TechCrunch
Zeal Capital Partners announces close of $82M Fund II
Zeal Capital Partners announced on Wednesday the close of its second fund, raising $82 million. Limited partners in the fund include Citi Impact Fund, M&T Bank, Wells Fargo, and Spelman College. It hopes to invest in at least 25 early-stage companies, writing check sizes between $1 million and $2.3 million, with 50% of the fund reserved for follow-on investments. Speaking to TechCrunch, Nasir Qadree, founder and managing partner of Zeal, said Fund II will focus on financial technology, healthcare, and future of work, as its other fund did. It has already invested in at least five companies, including the maternal health platform Seven Starling and the fintech Debbie. Qadree described the funding environment for Fund II as 'undoubtedly challenging' because of macroeconomic uncertainty, LP rebalancing, and tighter allocation windows. 'But these headwinds also sharpened our strategy and reaffirmed the strength of our approach,' Qadree said. 'I'm proud to share that over 80% of our limited partners from Zeal Fund I continued with us into Fund II, a signal of deep conviction in our ability to consistently back category-defining companies.' Black-led and founded funds such as this have been making some sizeable closes lately. Slauson & Co. announced a $100 million Fund II last September, followed by Illumen Capital, founded by Daryn Dodson, announcing the raise of a $32.75 million Fund in November. This year, Sydney Thomas' Symphonic Capital announced the raise of a $13.5 million inaugural fund, while Cherryrock Capital, founded by Stacy Brown-Philpot, announced the raise of its $172 million Fund I. Some of these funds are general in their mission, while others are more explicit in their target of underrepresented communities, showing that appetite still exists for such funds, despite the pressure from the current US presidential administration, and among those that support it, against anything that could be considered 'DEI'. Techcrunch event Save now through June 4 for TechCrunch Sessions: AI Save $300 on your ticket to TC Sessions: AI—and get 50% off a second. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking. These low-rate deals disappear when the doors open on June 5. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Overall, Zeal, a more generalist fund founded in 2019, has invested in 40 companies. Fund I announced its close at $62.1 million in 2021.
Yahoo
05-03-2025
- Business
- Yahoo
Zeal Capital Partners Promotes Stefanie Thomas-Martin to Partner
WASHINGTON, March 05, 2025--(BUSINESS WIRE)--Zeal Capital Partners, a leading Washington, D.C.-based venture capital firm focused on investing in early-stage technology businesses led by exceptional management teams, today announced Stefanie Thomas-Martin's promotion from Managing Director to Partner. Thomas-Martin will join Zeal's Founder and Managing Partner, Nasir Qadree, in overseeing the execution of the firm's portfolio strategy and will serve on the Investment Committee across all mandates. Additionally, Thomas-Martin has assumed a board of directors role at Stratyfy, a cutting-edge fintech company leveraging AI to enable financial institutions to make fairer decisions in credit risk, fraud detection, and compliance. "Stefanie's promotion to Partner is a testament to her exceptional leadership, investment acumen and track record, and unwavering commitment to our mission and values," said Nasir Qadree, Founder and Managing Partner of Zeal Capital Partners. "Her focus, expertise, and vision have been instrumental in launching the Barclays Black Formation Investment (BBFI) initiative and continuing to drive our Inclusive Investing™ strategy forward. "Stefanie's promotion to Partner underscores her pivotal role in driving Zeal's growth and advancing our founding investment thesis. Her leadership will be instrumental as we continue to build the next-generation investment platform and catalyze mission-driven businesses across healthcare, fintech, and the workforce, shaping an enduring legacy of innovation and impact across the venture capital ecosystem." Since joining Zeal in 2023, Thomas-Martin has been spearheading the Barclays Black Formation Investment (BBFI) vehicle, a $50 million pre-seed investment platform backed by Barclays and managed by Zeal Capital Partners. Built to propel the next generation of diverse-led companies, BBFI provides critical early-stage institutional capital and support to founders building high-growth technology companies primarily across the US and UK. She will continue to lead the BBFI strategy and oversee the firm's expanded commitment to Inclusive Investing™. She also pioneered Zeal's inaugural scout program, a critical initiative designed to train the next generation of diverse venture capitalists. "I am honored to take on this new role as Partner at Zeal Capital Partners," said Stefanie Thomas-Martin. "Our work in sourcing, underwriting, and scaling category-leading businesses and nurturing diverse talent across the venture capital ecosystem is more crucial than ever. I look forward to continuing our mission of driving economic mobility to undercapitalized communities while delivering exceptional returns for our investors." Before joining Zeal, Thomas-Martin was a founding member and investor at Impact America Fund (IAF). She also co-founded the pioneering entrepreneurship platform for women, Women Who Launch, after noticing the lack of startup communities available to support aspiring women founders. Earlier in her career, Thomas served as Vice President in Citigroup's global banking division. She received her M.B.A. from the Ross School at the University of Michigan and her B.S. in Economics from the Wharton School at the University of Pennsylvania. About Zeal Capital Partners: Zeal Capital Partners, based in Washington, DC, partners with high-growth, early-stage, tech-enabled companies led by exceptional management teams that are rethinking the building blocks of wealth. As a category-specific investment firm, Zeal's focus areas include the future of learning and work, financial technology, and health equity. View source version on Contacts Chanel CatheyZeal Capital Partners / CJC InsightsChanel@ Sign in to access your portfolio
Associated Press
05-03-2025
- Business
- Associated Press
Zeal Capital Partners Promotes Stefanie Thomas-Martin to Partner
Zeal Capital Partners, a leading Washington, D.C.-based venture capital firm focused on investing in early-stage technology businesses led by exceptional management teams, today announced Stefanie Thomas-Martin's promotion from Managing Director to Partner. Thomas-Martin will join Zeal's Founder and Managing Partner, Nasir Qadree, in overseeing the execution of the firm's portfolio strategy and will serve on the Investment Committee across all mandates. Additionally, Thomas-Martin has assumed a board of directors role at Stratyfy, a cutting-edge fintech company leveraging AI to enable financial institutions to make fairer decisions in credit risk, fraud detection, and compliance. This press release features multimedia. View the full release here: Stefanie Thomas-Martin, Partner, Zeal Capital Partners (Photo: Business Wire) 'Stefanie's promotion to Partner is a testament to her exceptional leadership, investment acumen and track record, and unwavering commitment to our mission and values,' said Nasir Qadree, Founder and Managing Partner of Zeal Capital Partners. 'Her focus, expertise, and vision have been instrumental in launching the Barclays Black Formation Investment (BBFI) initiative and continuing to drive our Inclusive Investing™ strategy forward. 'Stefanie's promotion to Partner underscores her pivotal role in driving Zeal's growth and advancing our founding investment thesis. Her leadership will be instrumental as we continue to build the next-generation investment platform and catalyze mission-driven businesses across healthcare, fintech, and the workforce, shaping an enduring legacy of innovation and impact across the venture capital ecosystem.' Since joining Zeal in 2023, Thomas-Martin has been spearheading the Barclays Black Formation Investment (BBFI) vehicle, a $50 million pre-seed investment platform backed by Barclays and managed by Zeal Capital Partners. Built to propel the next generation of diverse-led companies, BBFI provides critical early-stage institutional capital and support to founders building high-growth technology companies primarily across the US and UK. She will continue to lead the BBFI strategy and oversee the firm's expanded commitment to Inclusive Investing™. She also pioneered Zeal's inaugural scout program, a critical initiative designed to train the next generation of diverse venture capitalists. 'I am honored to take on this new role as Partner at Zeal Capital Partners,' said Stefanie Thomas-Martin. 'Our work in sourcing, underwriting, and scaling category-leading businesses and nurturing diverse talent across the venture capital ecosystem is more crucial than ever. I look forward to continuing our mission of driving economic mobility to undercapitalized communities while delivering exceptional returns for our investors.' Before joining Zeal, Thomas-Martin was a founding member and investor at Impact America Fund (IAF). She also co-founded the pioneering entrepreneurship platform for women, Women Who Launch, after noticing the lack of startup communities available to support aspiring women founders. Earlier in her career, Thomas served as Vice President in Citigroup's global banking division. She received her M.B.A. from the Ross School at the University of Michigan and her B.S. in Economics from the Wharton School at the University of Pennsylvania. About Zeal Capital Partners: Zeal Capital Partners, based in Washington, DC, partners with high-growth, early-stage, tech-enabled companies led by exceptional management teams that are rethinking the building blocks of wealth. As a category-specific investment firm, Zeal's focus areas include the future of learning and work, financial technology, and health equity. SOURCE: Zeal Capital Partners Copyright Business Wire 2025. PUB: 03/05/2025 09:09 AM/DISC: 03/05/2025 09:09 AM
