Sea VenturesThe firm, which provides funding for early-stage healthcare technology and services companies, announced it has acquired Unseen Capital, a venture capital firm that invests in underrepresented entrepreneurs and companies addressing challenges faced by marginalized communities.
Seae’s portfolio companies include maternal health start-ups Cabaya Care, value-based care health technology company Clinify for Medicaid-eligible individuals, and hybrid women’s health care provider Tia.
Unseen Capital has invested in Ayana Therapy, a company focused on matching mental health care professionals who share underrepresented values ​​and sensitivities; CareAcademy, an online caregiver training platform for home care agencies; and Violet, a cultural competency analysis and training platform.
Following the acquisition, Seae Ventures will have more than $200 million in assets under management.
“Unseen Capital and we are united in our vision to disrupt the flow of venture capital to underrepresented founders who have historically had limited access to funding,” Jason Robert, co-founder and managing partner at Sea Ventures, said in a statement.
“Seae’s strategy is to incorporate Unseen Capital’s resources into our early seed investment approach and continue to build on this foundation by raising additional capital. This effort honors Unseen Capital’s tradition and is consistent with Seae’s long-term investment strategy.”
Larger trends
The Unseen Capital team includes Google’s Chief Health Equity Officer; Dr. Ivor Horn appeared on HIMSS TV to discuss the importance of partnerships and ensuring proper representation within the healthcare ecosystem, especially in AI.
Dr. Horne was instrumental in helping Unseen companies develop strategies to help their own companies thrive and the individuals they support thrive.
Shi said the acquisition will help uphold the legacy of Unseen’s late founder, Kayode Owens, by continuing to provide funding to minority founders and individuals from underserved communities.
The investment firm also announced it would establish a fellowship and scholarship fund in Owens’ name for students at Historically Black Colleges and Universities (HBCUs).
The HIMSS AI in Healthcare Forum is scheduled to take place in Boston on September 5-6. More information and registration available here.
