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25 January 20214 minute read

DLA Piper advises Unseen Capital Health Fund in US$30 million investment from Eli Lilly and Company

DLA Piper represented Unseen Capital Health Fund LP in a recent US$30 million limited partner investment from global pharmaceutical company Eli Lilly and Company.

The Unseen Capital Health Fund is a newly formed venture fund created by racially diverse and historically underrepresented business leaders that is intended to identify, fund and support underrepresented founders of early-stage healthcare companies and those building solutions for marginalized communities. Unseen Capital intends to address the healthcare concerns of African American and other minority communities that are often "unseen" or overlooked by traditional institutions that allocate capital by investing in up to 50 early-stage healthcare companies operated by underrepresented founders.

 

“It was a pleasure to bring our extensive fund formation experience, as well as our strong understanding of the healthcare sector, to advise Unseen Capital in this investment that will enable it to continue to combat inequities in healthcare access and treatment,” said Yoni Tuchman, the DLA Piper partner who led the firm’s deal team. Relationship partner Nikos Buxeda added, “Unseen Capital was created to address the systemic issues that prevent founders from launching and scaling companies that can better represent and serve their own historically marginalized communities, and we are proud to be assisting them in this work.”

The DLA Piper team representing Unseen Capital included partners Tuchman (Los Angeles), Buxeda (San Juan) and SeoJung Park (Silicon Valley) and associate David Pennant (Philadelphia).

 

DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers in the US who provide strategic counsel to emerging companies in high-growth industries, including biotech, manufacturing, communications, software and semiconductors. Over the last three years, DLA Piper has completed more than 2,100 financings totaling over US$31 billion.

 

The firm’s global investment funds team provides a dynamic, integrated service to sponsors, fund managers and institutional investors, supported by the firm’s international tax and regulatory networks. The team advises clients on the full spectrum of private investment funds, all major investment strategies and all stages of a private investment fund's life cycle.

 

DLA Piper’s global Healthcare sector consists of a multidisciplinary legal team with niche experience in health-related business and legal issues. The team regularly works with corporations and financial institutions, private investors, private equity groups, venture capital funds, institutional investors and portfolio companies in all types of healthcare transactions.

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