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