Venture capital investor Octopus Ventures has exited its investment in Vision Direct, the online contact lens retailer. Vision Direct has been acquired by Essilor.
Octopus Ventures invested in Vision Direct in 2009 when the company employed 33 people and has remained the largest shareholder throughout this time, seeing Vision Direct grow to 80 employees with a turnover of GBP33 million. This exit represents the second significant exit for Octopus Ventures in 2016, coming after the recent exit from SwiftKey following its acquisition by Microsoft.
Alex Macpherson, head of Octopus Ventures, says: “Today is a huge day for Vision Direct and we are delighted for Michael Kraftman, the founder of this fantastic business. When we met Michael and the team back in 2009, it was clear to us that he had found an opportunity to build an incredibly exciting business that could scale quickly and play a key role in transforming its sector.
“Equally importantly, it was evident that they had the ability, determination and ambition to make this happen. From our initial investment, we’ve really enjoyed working with the team and seeing their business go from strength to strength. The news that Vision Direct is to join Essilor, the world leader in ophthalmic optics, is a tremendous achievement for this innovative young business and further highlights the UK as a thriving global hub for entrepreneurship.”
