Two Racial Equity-Minded DC Funds Secured Investments from Bank of America

Two D.C.-based funds have secured investments from Bank of America as part of the financial institution’s $1 billion, four-year commitment to advance racial equality and economic opportunity in the U.S.

Zeal Capital Partners and the Marathon Fund are among the first nine to land funding from Bank of America. Ultimately, the financial institution will investing approximately $150 million across 40 funds focused on amplifying founders of underrepresented races and genders. These funds are based in 21 markets across the country, though Bank of America hasn’t disclosed the full list of recipients yet.

Specific investment amounts for each recipient fund were not disclosed.

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