Fundraising

LPs in Zeal Capital's Fund II include Citi Impact Fund, M&T Bank, MassMutual, Wells Fargo, Zaffre Investments and Spelman College, as well as VCs Scott Sandell and Jason Green.

LPs include French corporates Groupe ADP and Valeo, and Spanish government investment organization Institut Català de Finances, PEI reported.

The fund’s strategic and impact-oriented LPs include big pharma names such as Pfizer, Bristol Myers Squibb, AARP and Alzheimer’s Research UK, which are excited by improved scientific understanding of dementia that promise to increase clinical trial successes.

The fund, which is targeting €125m, will focus on early-stage start-ups across Europe operating in sectors such as cybersecurity, information superiority, robotics, AI, autonomous systems and space technology.

The firm has invested in Coupang, Carvana, Databricks, Flipkart, Discord, Stripe and Wiz.

The fund’s founding LP is HSB.

Fund I’s limited partners include billionaire tech founders and prominent institutions.

LPs include Foundation Capital, GBM Ventures, Encore Bank and a dozen family offices from the US and abroad.

Besides Sequoia, LPs include Level Ventures, Cendana Capital, Vintage Investment Partners, Marktlink Capital, Spring Creek, Isomer Capital and Nexus Bay.

The new fund, which is 25% larger than its debut, is backed by Isomer Capital, Exor NV's Lingotto, Fondazione Compagnia di San Paolo, Grinnell College's Endowment, RSJ Investments and Aldea Ventures, Lunar says.