Truist Ventures and PayPal have co-led the vehicle’s $62.1m final close, which included backing from Foot Locker, Bank of America and Synchrony.
Digital payment processor PayPal and Truist Ventures, the corporate venturing arm of financial services firm Truist Financial, co-anchored a $62.1m fund for venture capital firm Zeal Capital Partners on Monday.
The fund’s limited partners include sportswear vendor Foot Locker, financial services groups Bank of America and Synchrony, RockCreek, Skoll Foundation, Society for Human Resource Management, Hampton University Endowment, Southern New Hampshire University and Gary Community Investments.
Founded in 2020, Zeal Capital backs early-stage companies managed by founders from minority backgrounds.…
