Orange County, Calif.-based ophthalmology Visionary Venture Fund and life sciences accelerator OCTANe said today they closed the fund’s 1st round of financing, raising $30 million.
The groups said that the fund will be invested in approximately 12 opthalmology companies over the next 18 months.
“Southern California’s ophthalmology companies are leading the global ophthalmology industry and we anticipate that the ecosystem here will continue to thrive. The concentration of ophthalmology innovation here is a testament to the region’s strong innovation at leading universities, healthcare institutions and advanced manufacturing, pharmaceutical and medical device industries. We enjoy rich and well-vetted deal flow,” Visionary Venture Fund managing partner Jeffry Weinhuff said in a prepared statement.
Companies receiving support from the fund include micro-interventional cataract device treatment developer IanTech, precision pulse capsulotomy techdeveloper Mynosys, eyebank and corneal tissue supplier and service procider SightLife Surgical and post-cataract surgery intraocular lens developer RxSight, the companies said.
“OCTANe and Visionary Venture Fund is proud to play a role in Orange County’s ophthalmology industry. As we work towards our goal of helping to create 22,000 jobs by 2025, OCTANe will continue to support and contribute to the growth of ophthalmology companies in Southern California,” OCTANe CEO Bill Carpou said in a press release.
Last October, OCTANe launched OCTANe Growth Services, a new business accelerator program that aims to aid its members and partners in growing their companies.
The new service looks to provide resources for companies in the region that are looking to grow, and will serve as an additional resource for companies completing the LaunchPad accelerator process with OCTANe.