By Dave Sebastian

Eli Lilly and Co. said it has made a $30 million limited-partner investment in Unseen Capital Health Fund LP, a new venture fund created to support underrepresented founders of early-stage health-care companies and those working toward serving marginalized communities.

The fund plans to invest in up to 50 early-stage health-care companies, Lilly said. The move is part of the company's racial-justice efforts, it said.

"The pandemic has reinforced our understanding that there is unequal treatment and unequal access to healthcare in underserved communities, made worse by a lack of financial investment for the promising ideas that rise up from within these communities," Finance Chief Joshua Smiley said.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

01-15-21 0708ET