Latest News New Eyecare Innovation Fund to Target Investors With Emerging Technologies By Staff Wednesday, February 10, 2016 12:15 AM ORLANDO, Fla.—Three eyecare industry veterans have launched a venture fund targeting early to mid-stage investments in eyecare services and technologies. The Eyecare Innovation Fund I, LP (EyeFund) will connect select investors with unique access to emerging eyecare technologies while delivering a unique value-added investment to venture funds and entrepreneurs, its organizers said.“Our clients are the owners of larger optometry practices,” said Alan Cleinman, founder and CEO of Cleinman Performance Partners, a leading business development consultancy and an EyeFund founder. “As such, they are early adopters of new technologies and a highly valued participant in the development of industry innovation. We conceived of the EyeFund to connect this valuable resource with investments in the future of eyecare.” The EyeFund is a limited liability partnership comprised of a general partner and up to 100 individual investors, limited Partners. The general partner is controlled by three individuals, Alan Cleinman, Thomas Schinkel and Joel Zychick, who have over 125 years of combined eyecare, technology, investment and M & A experience. “Our investment strategy is to participate alongside angel investors and venture capital in select investments that are developing advanced technologies and are within three years of commercialization,” said Joel Zychick, Esq., an EyeFund co-founder and CEO of E-Vision Smart Optics, a firm that controls over 500 patents associated with electronic eyewear. “Early investments in the technologies utilized by optometrists are not generally available to early adopters, either the result of not having access or from limitations on the investment funds available to an individual optometrist,” Zychick said. EyeFund’s third founder, Thomas Schinkel, an international mergers and acquisitions advisor, added, “The Fund will be a $5 million investment pool comprised of optometrists and the industry that serves them. The fund will provide investors with early and mid-stage access to technologies and, potentially, significant investment returns.” The three founders told VMail that EyeFund investors will be limited to members of the eyecare industry with the majority being owners of private optometry practices. Investors must be accredited and may subscribe from $25,000 to $100,000, payable in a single tranche. Investors may invest either personally or through an LLC. The Fund will make investments in technologies that are expected to enhance the optometrist/patient experience. Initial investments will range from $250,000 to $500,000 in firms that are within three years of commercialization. Along with the funds, management will provide access to investors to serve as advisors and consultants as well as alpha and beta test sites prior to full commercialization of technologies. A form for interested potential investors is posted on the Cleinman site.