Olympus (TYO:7733) announced last week that it established Olympus Innovation Ventures to invest in medtech startups.
Tokyo-based Olympus, which has its U.S. headquarters in Center Valley, Pennsylvania, said in a news release that the venture fund will invest in pioneering startups with innovative technologies that improve clinical outcomes, reduce healthcare costs and enhance patients’ quality of life.
Among the startups will be those looking to radically advance the detection and treatment of disease and transform the surgery suite, expanding on Olympus’ strategy to strengthen endoscopy and pioneer next-generation tools and procedures for minimally invasive surgery.
Olympus has allocated $50 million for initial commitments and follow-on investments in portfolio companies. The venture fund is stage-agnostic, prioritizing early- and growth-stage companies in spaces such as gastroenterology, respiratory and urology.
In addition to the capital, Olympus will help portfolio companies with clinical and technical expertise, access to healthcare professionals and hospitals and the ability to launch and scale in the global market.
Touchdown Ventures will help manage the Olympus Innovation Ventures fund.
“Our investment underscores our commitment to make people’s lives safer, healthier, and more fulfilling,” Olympus CEO Yasuo Takeuchi said in the release. “Our goal is for this fund to continue our history of innovation and support our long-term growth and transformation.”