Seae Ventures is acquiring Unseen Capital after the death of founder Kayode Owens in 2021. The combined firm will continue to invest in healthcare for minorities and underserved populations. Owens, an investor and entrepreneur, launched Unseen Capital to focus early-stage healthcare companies started by underrepresented founders, in 2020.
He raised $30 million but unfortunately died from cancer in August 2021. Over time, Eli Lilly, Unseen’s key limited partner, realized that the firm wouldn’t survive without Owens’ leadership. While it’s rare for one venture firm to buy another, Eli Lilly set out to find a new home for Unseen.
They looked at a few candidates, but Seae Ventures, another diversity-focused VC firm backed by the giant pharmaceutical company, stood out as a perfect acquirer. On Tuesday, Boston-based Seae announced that it has acquired Unseen Capital, bringing its total assets under management to $200 million. When Ely Lilly approached Seae co-founders Jason Robart and Tuoyo Louis about stepping into the general partner role at Unseen, they couldn’t say “no” to the opportunity.
“Our mission is serving traditionally underserved and vulnerable populations, with a particular focus on women and BIPOC [Black, Indigenous, and People of Color] founders, and that was also the mission for Unseen,” Robart told TechCrunch. “Bringing the two together means we could continue to honor and seek to achieve Kayode’s vision, our vision, and do that really from .
