Orange County-based VC Visionary Ventures Fund 1 last week released its 2018 executive summary showing it closed the year with a 33% internal rate of return, ranking it among the top performing VC funds in the U.S.
The $30 million fund invests primarily in life sciences companies with a specific focus on ophthalmological advancements.
The fund has invested in nine companies since its inception in April 2016, including Seattle based CorneaGen, Fremont-based Mynosys and OC-based TearClear.
Fund Managing Partner Jeff Weinhuff said the success of the fund can be attributed to its OC location, which Weinhuff called “the epicenter of ophthalmology,” and the prevalence of medical expertise among investors. Weinhuff said nearly half of the 72 fund investors are doctors who provide insight into upcoming technologies.
Weinhuff said the fund also has strong relationships with strategic parties looking to buy these companies, so they have insight into market demand.