A new venture fund will target companies that are within three years of commercialization.
Three eyecare industry veterans have launched the Eyecare Innovation Fund, a $5 million investment pool that will target early- to mid-stage investments in eyecare service and technology companies, according to a press release from the fund. Initial investments will range from $250,000-$500,000 in firms that are within three years of bringing a product or service to market. Investors are limited to members of the eyecare industry, with the majority being owners of private optometry practices. The fund will accept up to 100 individual investors and will also provide various consultation services to the companies in which they invest.
“Our clients are the owners of larger optometry practices,” says Alan Cleinman, a co-founder of the fund who’s also the CEO of Cleinman Performance Partners. “As such, they are early adopters of new technologies and a highly valued participant in the development of industry innovation. We conceived of the EyeFund to connect this valuable resource with investments in the future of eyecare.”