Olympus has revealed has launched Olympus Innovations Ventures Fund II, and additional commitment to its corporate venture capital fund. The company will deploy $150 million to invest in promising medtech startup companies that are focused on gastrointestinal (GI), urology, and respiratory.

Olympus Innovation Ventures (OIV) hopes to generate a pipeline of M&A opportunities, partnerships, and valuable market insights. OIV is stage-agnostic, meaning it prioritizes early- to growth-stage companies around the world with therapeutic solutions for certain medical specialties.

In addition to capital, the company will contribute its clinical and technical expertise, access to healthcare professionals and hospitals, and the ability to launch and scale innovative solutions.

The fund targets investments in passionate founders who are revolutionizing medical solutions, Olympus said. It invests in customer-driven solutions in medical devices, diagnostics, and digital health. Since it began in October 2021, OIV has made nine investments in areas like artificial intelligence (AI) workflow solutions and medical imaging agents to detect cancer.

“Our expanded venture fund commitment reflects Olympus’ deep dedication to innovation and growth,” said Olympus representative executive offer, president, and CEO Bob White told the press. “By supporting visionary innovators and breakthrough technologies over time, we aim to accelerate solutions that improve patient outcomes and strengthen our leadership in medtech.”

Cerity Partners Ventures, a firm specializing in corporate venture capital, will continue to help manage the Olympus venture fund. Cerity said it will work closely with Olympus senior executives in all aspects of operating the fund.

“The Cerity Partners Ventures team is excited to continue working with Olympus, leveraging our collective technical strengths, industry relationships, and subject matter expertise to fund and support leading entrepreneurs,” said Kindra Tatarsky, partner at Cerity Partners Ventures. “This fund will build on Olympus Innovation Ventures’ mission to be the partner of choice for innovators, creating a competitive advantage for their startups.”

“With an additional commitment to corporate venture capital, we will continue to make investments in startup teams who are building unique solutions in endoscopy-enabled care,” added Gabriela Kaynor, executive officer and chief strategy officer at Olympus and chair of the OIV Investment Committee. “Olympus Innovation Ventures investments help accelerate our progress toward developing the endosuite of the future with capabilities for early detection, diagnosis, and advanced therapies powered by AI, robotics, and beyond.”