Visionary Ventures has closed its second fund at $114 million. The fund will invest in ophthalmic pharmaceuticals and medical devices.
Aliso Viejo, California, March 23, 2021 – Visionary Ventures today announced the closing of Visionary Venture Fund II with $114MM in committed capital. The Fund, which was strongly supported by existing and new investors, continues the firm’s strategy of partnering with Ophthalmology and Optometry Key Opinion Leader (KOL) limited partners to invest in ophthalmic pharmaceuticals and medical devices. Fund II enjoys investment and input from over 80 KOL experts spanning the front and back of the eye.
“Fund II will continue to build on our focus on the KOL-informed strategy developed with Fund I. Fund I achieved top decile net internal rate of return (IRR) of 32% and 1.18x distributed to paid in (DPI)”, said Jeffry Weinhuff, Managing Partner at Visionary Ventures. “There remains to be significant room for innovation in the $60 billion Ophthalmology industry as an aging demographic demands solutions to treat the numerous unmet needs in the space. Visionary Fund II’s portfolio is already off to a strong start yielding a net IRR of 57%.”
Visionary has experienced strong momentum recently with the performance of its investments and the most recent raise of the second fund. A recent public offering from Visionary’s Fund II portfolio include Tarsus Pharmaceuticals. Recent Fund II investments include leading a $30 million Series C round in a pharmaceutical product startup Orasis Pharmaceuticals that is addressing a market greater than 120 million US people with near vision loss (presbyopia) due to aging and leading a $25 million Series B round in a pharmaceutical product startup TearClear that is disrupting the way topical medications are delivered to the ocular surface. Past marquee Visionary investments include IanTech, RxSight, and Tear Film Innovations.
Leading Visionary Fund II will be Managing Partner, Jeffry Weinhuff and Principal, Garrett Hamontree along with Venture Partner Daniel Gil, PhD. Visionary is supported by industry leaders on the Investment Advisory Committee, including Richard Lindstrom, MD; Ehsan Sadri, MD; Farrell Tyson, MD; Bill Carpou; Robert Avery, MD; and Jeffry Weinhuff.
Since launching Visionary Fund I in 2016, the firm has become a leading venture capital investor in the Ophthalmology space. The KOL group that powers Visionary’s top decile returns has grown significantly with the second fund.
About Visionary Ventures
Visionary Ventures is an Orange County California based venture capital firm that leverages its unique information advantage approach and strategy to connect capital and insight with the most promising life sciences and ophthalmology startups. Visionary gains that information through partnerships with 80+ KOLs, industry experts, and strategic acquirers. By building a team of experts, professionals, and industry leaders at the forefront of the process, we are tapping into a unique advantage to our venture investments. One of our key focus areas, aside from achieving exceptional returns, is investing in companies that address unmet medical needs or underserved markets. When companies focus on a larger societal impact, we are funding true change. With a team of industry authorities impacting these decisions, we can make informed decisions about how we vet these companies and gauge their potential. Learn more about our people, portfolio, and perspectives at Visionary Ventures and connect with us on LinkedIn.