NEWS: Strategic Fund for Fintech and Data Analytics in the Works
With a successful ophthalmology fund under its belt and a sequel fund on the way, OCTANe is now looking to replicate the success that this specialized focus has achieved, this time in the fintech and data analytic realms.
Bill Carpou, CEO of OCTANe – the Aliso Viejo life sciences and tech accelerator – said last week at a private event that he’s in the process of getting key OC fintech and data analytic companies strategically aligned, and then creating a synergistic fund for SoCal startups in these fields.
That’s precisely what OCTANe did for ophthalmology in SoCal with the Visionary Ventures fund. The first fund is expected to invest $30 million. It’s been seeing an IRR of more than 30%. A second fund is on the way. (See related story here.)
This new effort underscores the growing presence of fintech and data innovation in the region. Whereas ophthalmology had a historic presence in OC, starting with Allergan, the realms of fintech and data analytics represent a new generation of innovation. And some of the startups in these fields chose OC specifically and SoCal generally for their international HQ, based on the talent and resources here.
“We have found that a knowledge advantage makes a material difference in the ability for early-stage companies to raise capital and access key talent,” Carpou told OC Startups Now. “Sources of capital and industry expertise reside in these centers for that reason. That is simply why Orange County is now the epicenter of ophthalmology innovation worldwide, and can become that in other industries.”
OCTANe will host a private dinner in November with C-suite execs at local fintech and data analytic companies who want to participate in this effort.
If you’re interested, contact Bill here.
OCTANe is already working to enlist several large, local companies, which are leaders in these fields, as strategic partners in this effort.