The first round of funding has closed for Visionary Venture Fund, according to a press release announcement from OCTANe, a technology and life sciences accelerator organization, and Visionary.
The ophthalmology-focused Visionary Venture Fund expects to invest up to $30 million in several ophthalmology companies, including IanTech, Mynosys, SightLife Surgical and RxSight, over the next 18 months, the release said.
“Southern California’s ophthalmology companies are leading the global ophthalmology industry, and we anticipate that the ecosystem here will continue to thrive,” Jeffry Weinhuff, managing partner of the fund, said in the release. “The concentration of ophthalmology innovation here is a testament to the region’s strong innovation at leading universities, health care institutions and advanced manufacturing, pharmaceutical and medical device industries. We enjoy rich and well-vetted deal flow.”
The fund will choose investments with the help of key opinion leader partners and an investment committee, led by OSN Chief Medical Editor Richard L. Lindstrom, MD, Eric D. Donnenfeld, MD and Kerry D. Solomon, MD.