July 10, 2024

Seae Ventures Acquires Unseen Capital To Honor Late Founder Kayode Owens’ Legacy

Seae Ventures

Seae Ventures has announced the acquisition of Unseen Capital following the death of Unseen Capital’s founder, Kayode Owens, in 2021. 

The acquisition will use the strengths and missions of both funds to further serve underrepresented entrepreneurs and marginalized communities.

Continuing Kayode Owens’ Legacy

Owens, an esteemed investor and entrepreneur, founded Unseen Capital in 2020 to support early-stage healthcare companies led by underrepresented founders. 

Despite successfully raising $30 million, Owens’ death from cancer in August 2021 left a void in the firm’s leadership. 

Recognizing the importance of Owens’ mission, Eli Lilly, Unseen’s key limited partner, sought a suitable successor to sustain the firm’s impact. After evaluating several candidates, Seae Ventures emerged as the ideal acquirer.

The Boston-based venture capital firm, co-founded by Jason Robart and Tuoyo Louis, focuses similarly on diversity and healthcare. 

“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,” said Robart 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 alligns with Seae’s long-term investment strategy.”

A fellowship and HBCU scholarship fund

The integration will ensure the continued support of the existing companies in Unseen’s portfolio and will preserve and honor the legacy of Owens.

Seae Ventures is also set to introduce several initiatives to honor Owens’ vision, including a fellowship in his name and a scholarship fund for Historically Black College and University (HBCU) students.

Erica Murdock, an experienced healthcare operator and prior founder, will be Unseen’s Managing Director, leading the charge in building the team to support Unseen’s existing portfolio and the go-forward early seed stage strategy.

“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.

Feature Image Credit: Theresa Johnson Herlihy

Sara Keenan

Tech Reporter at POCIT. Following her master's degree in journalism, Sara cultivated a deep passion for writing and driving positive change for Black and Brown individuals across all areas of life. This passion expanded to include the experiences of Black and Brown people in tech thanks to her internship experience as an editorial assistant at a tech startup.