Updated: Mar 31, 2021
Manhattan, New York, New York, March 18, 2021 – Clerio Vision, Inc., a laser-based vision correction company, today announced the closing of a $12.5 million Series E round financing co-led by Safar Partners and Bridge Point Capital. Bridge Point Capital invested $3.2 million through its SPV (special purpose vehicle). Institutional investors also include Norwest Venture Partners and other prestigious VCs. Clerio Vision's post-money valuation increased to ~$180 million after this round. The capital raised will support clinical trials, product advancement, and global market entry.
Clerio Vision’s revolutionary solution is based on the 2018 Nobel Prize-winning technology – Laser Induced Refractive Index Correction (LIRIC). LIRIC is a non-invasive laser technology aimed to replace the current LASIK method for cornea surgery, as well as to improve product quality in the contact lens and intraocular lens space.
Successful 2018 FIH Safety Study (El Salvador)
A Deep and Experienced Team with Past Startup Successes, and Expertise in Ophthalmology, Engineering and Operations
“We are confident that Clerio Vision’s breakthrough technology would truly transform the vision correction industry. With Series E’s financing, we can further expand our business development globally and continue to make progress on portfolio products,” said Alex Zapesochny, CEO of Clerio Vision.
“Bridge Point’s support is vital for Clerio to bridge the gap between product readiness and commercialization in the Asia market,” said Mike Totterman, Chairman of Clerio Vision. Bridge Point not only brought in valuable local strategic investors for the Series E round, but also continues to source family offices, high-net-worth individuals, and more strategic Chinese PE investors to support Clerio’s mission for better vision care. Bridge Point Capital conducted rigorous due diligence and analyses on Clerio’s potential in the Asia market, especially China, adding unique value to the investment.
“Clerio’s technology is what distinguished itself from other startups,” said Mark Young, Co-founder & Co-CEO of Bridge Point Capital. “We are continuously creating opportunities for both startups and investors in the healthcare space.”
“Having our team and network located in both the U.S. and China gives us tremendous advantages in understanding and penetrating the two largest healthcare markets. We believe this is crucial to our LPs and to our portfolio companies,” said Nadia Tian, Co-founder & Co-CEO of Bridge Point.
About Bridge Point Capital:
Bridge Point Capital is a private equity firm based in New York, with a focus on U.S-Asia cross-border investments. We specialize in investing in disruptive mid- to late-stage healthcare companies that can benefit from penetrating the vast, yet unexplored Asian healthcare market. We aim to leverage our expertise in both healthcare and capital markets, to establish a sustainable investment platform for our investors.
Author: Dengbo Yang @Bridge Point Capital