Asia | June 23, 2017

Global Vision designs a holding company for affordable eyecare in Asia

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Nine out of 10 blind people around the world live in poor areas with little or no access to eyecare.

The low-cost eyecare specialist GlobalVision has a plan to raise $300 million over the next five years to create a holding company for a network of 60 affordable, for-profit eyecare hospitals, starting in Vietnam.

Convergence, a non-profit platform promoting blended (or full-stack) capital in impact investing, is providing a “Design Funding” grant to GlobalVision to help bring in philanthropic and private investors.

The grant (amount undisclosed) is the seventh award from Convergence’s $10 million Design Funding initiative, which has also supported clean energy and smallholder livelihood projects in Indonesia and employment integration for Syrian refugees, among other programs.