Deals
Lilly Invests $30 Million in Health-Equity Focused Venture Fund
- New VC will fund minority-owned health-care companies
- Unseen Capital aims to reach $100 million, fund 50 companies
Photographer: Michael Nagle/Bloomberg
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Eli Lilly & Co. is investing $30 million in a new venture capital firm that will fund minority-owned, early-stage health-care companies.
Unseen Capital Health Fund LP will invest in 50 startups focused on health-care solutions for marginalized communities, Lilly said in a statement. With the drug giant as its anchor investor, the fund aims to raise a total of $100 million from the industry and beyond, and make six to eight investments by summer, said Kayode Owens, Unseen Capital’s 49-year-old general partner.