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Seae Venturesis develop Unseen Capital after the death of founder Kayode Owens in 2021 . The combined firm will keep on to invest in healthcare for minority and underserved universe .
Owens , an investor and entrepreneur , launched Unseen Capital to focus on early - stage healthcare companies initiate by underrepresented founder , in 2020 . He raise $ 30 million but alas drop dead from cancer in August 2021 .
Over time , Eli Lilly , Unseen ’s key modified partner , realized that the firm would n’t outlast without Owens ’ leadership .
While it ’s uncommon for one venture firm to buy another , Eli Lilly adjust out to discover a newfangled home plate for Unseen . It face at a few candidates , but Seae Ventures , another diversity - focus VC firm backed by the giant pharmaceutic company , stood out as a everlasting acquirer .
On Tuesday , Boston - based Seae announce that it has assume Unseen Capital , fetch its entire plus under direction to $ 200 million .
When Ely Lilly approach Seae co - founders Jason Robart and Tuoyo Louis about stepping into the oecumenical better half role at unobserved , they could n’t say “ no ” to the chance .
“ Our mission is serving traditionally underserved and vulnerable populations , with a particular focus on womanhood and BIPOC [ Black , Indigenous , and mass of Color ] father , and that was also the mission for Unseen , ” Robart differentiate TechCrunch . “ Bringing the two together means we could persist in to observe and seek to accomplish Kayode ’s vision , our vision , and do that really from our combined strength . ”
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Robart and Tuoyo started Seae in 2019 after run Zaffre Investments , the bodied ventures limb of Blue Cross Blue Shield of Massachusetts , for more than five age .
“ We sleep with ground on our experience at Blue Cross that there were some really attractive companies producing strong returns , who were addressing traditionally underserved or vulnerable populations , ” Robart said . “ The health care organisation really needed a hike in those area . And we thought we could make a difference of opinion . ”
Seae Ventures was founded in 2019 and closed its first $ 107 million fund in other 2022 . The business firm is currently raising a 2d $ 150 million vehicle , according toan SEC filing .
Its portfolio companies let in Tia , a digital technical school company serve women , which has morphed into in - person clinics , and Needed , a supplier of dietary supplement and other innate nourishments for woman before , during and after gestation .
While Seae and Unseen serve standardized population , they induct in companies at slightly unlike stages of development . Robart and Tuoyo leveraging their experience with a major health system to help startups untroubled contract bridge with heavy aesculapian organization and hospitals . That means that Seae invests in startup that already have a merchandise and are raising a Series A or a large seed round .
unobserved , however , centre on pre - seed and early - germ party that are not yet ready to sell to health systems , Robart said .
While the surviving squad at “ Unseen did a great job at continuing with Kayode ’s sight , ” they moved on to different opportunities since Owens ’ decease , Robart suppose . Seae is bring in Erica Murdock , an experient health care wheeler dealer and prior founder , to direct Unseen scheme , which include investing in pre - seed and very early - degree company and managing Unseen ’s live portfolio companies .
Seae Ventures will continue to honor Owens ’ vision not only by support young healthcare companies plant by minorities but also through a fellowship in his name and a encyclopaedism fund for Historically Black College and University ( HBCU ) students .
