Olympus Innovation Ventures' second fund will invest in startups developing technology related to Olympus' endoscopy business, where it is a world leader.
Japanese optics technology and medical device producer Olympus hiked its corporate venture capital allocation to $200m today with the launch of a $150m second medical technology-focused fund.
Olympus Innovation Ventures Fund II follows in the footsteps of the unit’s $50m first fund, which has made nine investments since it was launched in 2021. Its portfolio includes On Target Labs, a developer of molecular imaging agents, and Universal Diagnostics, which is working on an early screening system for colorectal cancer.
“Our expanded venture fund commitment reflects Olympus’ deep dedication to innovation and growth,” said Olympus CEO Bob White in a statement announcing the new fund.
“By supporting visionary innovators and breakthrough technologies over time, we aim to accelerate solutions that improve patient outcomes and strengthen our leadership in medtech.”
Olympus Innovation Ventures (OIV) is overseen by the corporate’s US subsidiary, Olympus Corporation of the Americas, and its funds are run by CVC fund manager Cerity Partners Ventures.
The unit will put the new capital to work backing startups working on medical devices to treat gastrointestinal, urology and respiratory-related diseases, each of which relate to Olympus’s status as the world’s largest producer of endscopes. OIV invests up to $10m per deal, from seed stage onwards.
“With an additional commitment to corporate venture capital, we will continue to make investments in startup teams who are building unique solutions in endoscopy-enabled care,” said Olympus chief strategy officer Gabriela Kaynor, who also chairs OIV’s investment committee.
“Olympus Innovation Ventures investments help accelerate our progress toward developing the endosuite of the future with capabilities for early detection, diagnosis and advanced therapies powered by AI, robotics and beyond.”
Want to know exactly which startups Olympus has been investing in? Check out GCV’s CVC Funding Round Database.
