A Boston venture capital firm that specializes in healthcare technology has debuted a new kind of partnership to combat healthcare disparities in underserved communities — and it's starting in Eastie.
Seae Ventures is teaming up with East Boston Neighborhood Health Center, the largest community-based primary care provider in Massachusetts. The venture capital firm and its portfolio companies will work with the health center to bring their innovative technologies to underserved populations.
The East Boston Neighborhood Health Center primarily cares for people of color, especially Hispanic residents, who are often overlooked by traditional healthcare systems. Tuoyo Louis, co-founder and managing partner at Seae Ventures, said this meshes well with his firm’s mission to fund diverse entrepreneurs, particularly women and those who identify as black, indigenous and people of color (BIPOC), who are addressing health disparities and underserved communities.
Louis said Seae Ventures recognizes the importance of supporting East Boston Neighborhood Health Center’s work with the Latino community.
“I think as a whole, the Latino population will define the economic viability in this country. The youth population is one of the fastest growing demographics, which means they’ll become the future of work,” Louis said. “As it relates to Boston, I think they’ll define Boston’s economy so it’s really important that we help the Latino population engage in their healthcare thoroughly.”
A 2021 Massachusetts Health Connector study found that the Bay State’s Hispanic residents had a higher rate of uninsurance compared to other races.
VC addressing health disparities
When it comes to underserved communities, Louis said access to culturally and linguistically competent care, telehealth and digital offerings are important services that are not always provided.
“I think access to innovative solutions has not been equitable for all patients, all providers, and this is particularly true for the underserved community,” Louis said.
Seae Ventures’ partnership with East Boston Neighborhood Health Center aims to bring services like these to its patients.
Louis said Seae Ventures has 18 portfolio companies. They’re working in areas like expanding maternity health services, providing access to mental health services and improving quality of life for sickle cell disease patients.
Seae Ventures announced its first fund totaling over $107 million in 2022. The firm was founded by healthcare veterans Louis, Pete Sally and Jason Robart.
Now that the partnership has kicked off, Louis said they will first focus on understanding the needs of East Boston Neighborhood Health Center’s patients. Then they will pick the portfolio companies that meet those needs and figure out how to deploy their solutions. Louis said they aim to announce the launch of the first portfolio company partnership by the end of the year.
Louis said he hopes this is the first partnership of many for Seae Ventures.
“We’d love to partner with other federally qualified health centers across the country to roll out this model,” Louis said.
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