Seae Ventures has announced a strategic acquisition of Unseen Capital after founder Kayode Owens died in 2021.

Seae Ventures is an investment firm specializing in early-stage healthcare technology and services companies. Unseen Capital, meanwhile, is a venture capital firm focused on investing in innovators who are intimately familiar with the challenges faced by marginalized communities. 

This acquisition will leverage both funds’ combined strengths and missions to serve underrepresented entrepreneurs and marginalized communities further. Following the acquisition of Unseen, Seae Ventures will have over $200 million of assets under management in 2024. 

“Together with Unseen Capital,” Jason Robart, co-founder and Managing Partner of Seae Ventures said, “we are united in our vision to significantly impact the flow of venture capital to underrepresented founders, many of whom traditionally have had limited access to funding.” 

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“Our strategy at Seae will incorporate Unseen’s resources into an early seed investment approach, and we will continue to build upon this foundation by raising additional capital. This effort honors the legacy of Unseen Capital and aligns with Seae’s long-term investment strategy, he continued.”

Background on Unseen Capital and Seae Ventures

Kayode Owens, an investor and entrepreneur, launched Unseen Capital to focus on early-stage healthcare companies started by underrepresented founders in 2020. He secured $30 million but unfortunately died from cancer in August 2021.

With time, Eli Lilly, Unseen’s key limited partner, realized that the firm wouldn’t survive without Owens’ leadership. So she set out to find a new home for the Capital firm, although it’s rare for one venture firm to acquire another.

After exploring a few candidates, Seae Ventures, another diversity-focused VC firm backed by the giant pharmaceutical company, stood out as a perfect acquirer. 

Seae Ventures was founded in 2019 by co-founders Jason Robart and Tuoyo Louis and closed its first $107 million fund in early 2022. While Seae and Unseen serve similar populations, they invest in companies at slightly different stages of development. 

Seae Ventures founders leverage their experience with a major health system to help startups secure contracts with large medical organizations and hospitals. That means that Seae invests in startups with a product and are raising a Series A or a large seed round. Unseen, however, focuses on pre-seed and early-seed companies that are not yet ready to sell to health systems.

Seae Ventures will continue strengthening its relationship by adding strategic value to Unseen Capital portfolio companies as part of this integration. Lilly is also an investor in Seae Ventures Funds I and II.

“Together, Seae and Unseen are building a legacy of inclusivity and innovation in the venture capital space, proving that investing in diversity is not just good ethics, it’s good business,” said Tuoyo Louis, co-founder and Managing Partner of Seae Ventures.

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Next Step On This Strategic Acquisition

Seae is bringing in Erica Murdock, an experienced healthcare operator and prior founder, to lead Unseen strategy, which includes investing in pre-seed and very early-stage companies and managing Unseen’s existing portfolio companies.

Seae Ventures will continue to honor Owens’ vision by backing young healthcare companies founded by marginalized and through a fellowship in his name and a scholarship fund for Historically Black College and University (HBCU) students.

Photo Credit: Seae Ventures