OCTANe said yesterday it launched the Visionary Venture Fund and Advisory Board, a $50 million venture fund that aims to boost ophthalmology innovation and development in Orange County, Calif. and in the wider medical industry.
The fund will support select startup companies through both monetary support and counsel from experts in the ophthalmology field, according to Aliso Viejo, Calif.-based OCTANe.
“This is a unique opportunity to create an inflection point in the development of groundbreaking research and technology development in the ophthalmology field. It’s different than a simple investment. It provides OCTANe the ability to participate in one of the fastest growing areas in the world with direct involvement of the industry’s top leaders. These leaders provide the insight to identify innovative trends and, when combined with the OCTANe LaunchPad process and advisor network, a greater level of support for startup success,” CEO Bill Carpou said in a press release.
The more than 20 ophthalmology industry experts will aid later-stage startups in navigating from the initial funding and development stages through to commercialization.
OCTANe said it established the fund to tap into “1 of the strongest industry growth markets in the healthcare ecosystem,” adding that it expects a 5% growth in ophthalmology procedure rate and a steady increase in average price per procedure.
In November, OCTANe said it is expanding its LaunchPad early-stage accelerator program focused on high-tech and med-tech industries. The announcement was made at the company’s medical device & investor forum.
OCTANe has operated as a business developer and accelerator for 15 years, and collectively raised more than $1.1 billion, according to the company.
The post OCTANe launches $50m ophthalmology VF appeared first on MassDevice.
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