Aliso Viejo-based OCTANe has invested $5 million in three ophthalmology companies through its Visionary Venture Fund.
OCTANe is not the lead investor in any of the deals, which include stakes in Fremont-based Mynosys Cellular Devices Inc., developer of Zepto, a medical device used to reproduce a precise circular capsulotomy during cataract surgeries; Reno, Nev.-based IanTech, manufacturer of a device that removes the hard center of a cataract during surgeries; and Seattle, Wash.-based SightLife Surgical, a provider of corneal tissue for transplants. SightLife regional offices are in Irvine and San Francisco.
Mynosys and IanTech received $1 million each from OCTANe, according to the group, totals that indicate SightLife Surgical got $3 million.
Also undisclosed were the lead investors in the three deals.
OCTANe is known as a business accelerator, and provides various resources to startup companies in the technology, med-tech and medical devices sectors. It also serves as an investment hub for local and nationwide investors, aiming to connect companies with money and expertise.
The $50 million venture fund, which launched in February, is still actively raising, with about $10 million in hand so far.
The fund marks an emphasis on eyes for OCTANe.
“Tech in Orange County continues this trajectory, particularly in medical devices, to focus on ophthalmology—which makes sense, [as] Orange County is the epicenter on ophthalmic innovation,” said Bill Carpou, chief executive of the group. “It’s different than a simple investment. Our advisory board, which includes 30 ophthalmology industry leaders, can help later-stage startup companies from initial funding and development to commercialization.”
Carpou indicated hopes to secure investments from leading ophthalmology companies.
“We are looking for institutional [quality] lead investors who want us to be strategic partners.”
