Retinal Degeneration Fund
Venture Capital
The Retinal Degeneration Fund (RD Fund) is a 501(c)(3) not-for-profit subsidiary of the Foundation Fighting Blindness, established in 2018 as its venture investment arm. With $122 million under management, the RD Fund focuses on making mission-related investments in companies developing treatments and cures for inherited retinal diseases and dry AMD, primarily targeting programs nearing clinical testing.
Raleigh, United States · 3+ investments
Seed
Early Stage
Biotech
Gene Therapy
Ophthalmology
- Headquarters
- Raleigh, United States
- Founded
- 2018
- Website
- retinaldegenerationfund.org
- AUM
- $122.0M
- Total Investments
- 3
- Last Investment
- Jan 2026
- Geographic Focus
- Global
Investment Thesis
The RD Fund deploys capital through two vehicles: a Core Fund (initial check $1–5M, Seed to Series B, with up to $10–15M follow-on reserves) and a Discovery Fund (catalytic seed investments starting at $250K for high-risk, high-reward early science). The fund targets therapeutic companies focused on inherited retinal diseases and dry AMD, operating under an evergreen model where realized gains are reinvested. Investment structures include equity, convertible debt, royalties, and project co-funding.
Retinal Degeneration Fund is a Venture Capital firm based in Raleigh, United States. It has made 3 investments in Biotech and Gene Therapy.
Investment History
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