Olympus Corporation has announced the establishment of Olympus Innovation Ventures to invest in start-ups with innovative technologies that improve clinical outcomes, reduce healthcare costs and enhance the quality of life for patients.
Olympus Innovation Ventures, a fully-owned subsidiary of Olympus Corporation of the Americas, is a venture capital fund focussed on start-ups poised to improve patient outcomes, radically advance the detection and treatment of disease, and transform the surgery suite. The new fund expands upon Olympus' strategy to strengthen endoscopy and pioneer next-generation tools and procedures for minimally invasive surgery.
Olympus' venture fund is stage-agnostic, prioritising early- and growth-stage companies globally with solutions in therapeutic areas including gastroenterology, respiratory, and urology. Olympus has allocated $50 million for initial commitments and follow-on investments in portfolio companies. In addition to capital, Olympus will help its portfolio companies succeed by contributing its clinical and technical expertise, access to healthcare professionals and hospitals, and ability to launch and scale innovative solutions in the global market.
Olympus has been involved in optical and medical innovation for over 100 years, introducing a mass-produced microscope to Japan in 1919 and the world's first gastrocamera for practical use in 1950. Olympus' tools have aided the minimally invasive surgery revolution and have evolved to detect and treat disease.
Yasuo Takeuchi, CEO of Olympus Corporation, said: "Our investment underscores our commitment to make people's lives safer, healthier, and more fulfilling. Our goal is for this fund to continue our history of innovation and support our long-term growth and transformation."
Touchdown Ventures, a firm specialising in corporate venture capital, will help manage the Olympus Innovation Ventures fund. Touchdown will work closely with senior executives of Olympus in all aspects of operating the fund.
Scott Lenet, co-founder and president of Touchdown Ventures, said: "We are excited about what Olympus can bring to entrepreneurs through the company's technical strengths, industry relationships, vast distribution, and deep subject matter expertise. The entire Olympus Innovation Ventures team is working to be the partner of choice for innovators and create a competitive advantage for their start-ups."
Nacho Abia, chief operating officer of Olympus Corporation, added: "This effort is another way Olympus is demonstrating its commitment to excellence and creating tangible value for providers and patients. We believe we will play a meaningful role in the advancement of minimally invasive care and new ways to detect, monitor and treat conditions and diseases."