Seae Ventures has recently acquired Unseen Capital following the passing of founder Kayode Owens in 2021. The newly merged entity remains committed to investing in healthcare solutions for minorities and underserved communities.
Kayode Owens, a respected investor and entrepreneur, established Unseen Capital in 2020 with the goal of supporting early-stage healthcare ventures founded by underrepresented individuals. Despite successfully raising $30 million, Owens tragically succumbed to cancer in August 2021.
Recognizing the integral role Owens played in Unseen’s operations, Eli Lilly, the key limited partner, sought a suitable successor to sustain the firm’s mission. After considering various candidates, Seae Ventures emerged as the ideal acquirer due to its shared dedication to promoting diversity within the venture capital landscape.
In a recent announcement, Seae Ventures revealed the acquisition of Unseen Capital, expanding its total assets under management to $200 million. Co-founders Jason Robart and Tuoyo Louis embraced the opportunity to step into leadership roles at Unseen, aligning with their mutual focus on supporting marginalized communities and minority entrepreneurs.
Established in 2019 following their tenure at Zaffre Investments, Seae Ventures quickly gained recognition for its commitment to fostering innovation and addressing healthcare disparities. The firm secured its first $107 million fund in early 2022 and is currently raising a second $150 million vehicle, as indicated by SEC filings.
Among Seae’s notable portfolio companies are Tia, a digital health platform catering to women’s needs, and Needed, a provider of nutritional supplements for women during pregnancy and beyond. While Seae and Unseen hold similar missions, they differ in their investment focus, with Seae targeting startups at later stages of development compared to Unseen’s emphasis on pre-seed and early-seed companies.
Following Owens’s passing, Seae Ventures appointed Erica Murdock, an experienced healthcare operator, to lead Unseen’s strategy and oversee investments in early-stage enterprises. Additionally, Seae is committed to preserving Owens’s legacy through initiatives such as a fellowship program in his honor and a scholarship fund for students at Historically Black Colleges and Universities (HBCUs).
