Seae Ventures, a firm that provides funding to early-stage healthcare technology and services companies, announced it acquired Unseen Capital, a fellow venture capital firm that invests in companies that address the challenges faced by underrepresented entrepreneurs and marginalized communities.
Seae’s portfolio companies include maternal health startup Cabaya Care, value-based care health technology company for the Medicaid population Clinify and hybrid women’s healthcare provider Tia.
Unseen Capital has invested in Ayana Therapy, a company focused on matching mental health care professionals who share minorities’ values and sensibilities; CareAcadeny, an online caregiver training platform for home care agencies; and Violet, a cultural competence analytics and training platform.
Following the acquisition, Seae Ventures will have more than $200 million of assets under its management.
“Together with Unseen Capital, 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,” Jason Robart, cofounder and managing partner of Seae Ventures, said in a statement.
“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.”
THE LARGER TREND
The team behind Unseen Capital includes Google’s chief health equity officer, Dr. Ivor Horn, who joined HIMSS TV for an interview to discuss the importance of partnerships and ensuring proper representation within the healthcare ecosystem, especially within AI.
Dr. Horn contributed to assisting Unseen’s companies in developing strategies to help them flourish and the individuals they seek to serve.
Seae said the acquisition would help to preserve the legacy of Unseen’s late founder, Kayode Owens, by continuing to fund minority founders and individuals in underserved communities.
The investment firm said it will also start a fellowship and a scholarship fund in Owens name for Historically Black College and University (HBCU) students.
The HIMSS AI in Healthcare Forum is scheduled to take place September 5-6 in Boston. Learn more and register.