MENLO PARK, Calif.—The investment firm KKR announced Tuesday that it has formed a new platform, Falcon Vision, to source, evaluate and provide operational and financial capabilities to a diversified group of emerging ophthalmic medical device and biopharmaceutical companies. Falcon Vision will collaborate with the team at Flying L Partners, which brings together business and clinical leaders with decades of experience in building, leading, and funding high-impact ophthalmic technologies, according to the announcement. Bill Link, a successful entrepreneur and investor with more than 40 years of experience in the ophthalmic sector, will lead the new Falcon Vision platform.

Link founded two marquee medical device franchises, AMO and Chiron Vision, which catalyzed the markets for cataract and LASIK, respectively, the announcement noted. Link also co-founded Versant Ventures and has a strong track record of investing in and helping scale a number of ophthalmology companies. Other key members of the Flying L Partners team include Andy Corley and Dr. Richard Lindstrom, according to Tuesday’s announcement.

“Ophthalmology is an important and attractive area for innovation given the unmet need across multiple disease categories, an aging population and the quality-of-life consequences of vision loss,” Link said in the announcement. “We are eager to collaborate with Falcon Vision to further our mission of supporting innovative companies to create value in the space.”

The news coincides with an announcement that Flying L Partners and Falcon Vision participated in a Series B funding round for Oyster Point Pharma Inc., a clinical-stage pharmaceutical company with an initial focus on developing novel therapies to treat Dry Eye Disease (DED). Oyster Point raised $93 million in the recent financing round, which was co-led by Invus Opportunities and Flying L Partners in collaboration with Falcon Vision, according to a separate announcement.

Ali Satvat, who leads KKR’s health care strategic growth investing efforts, said he believes there is a “significant opportunity to accelerate much-needed therapies in the ophthalmic sector with flexible capital and operational guidance. He noted the firm is excited to work with the Flying L Partners team in the effort to provide companies with “the resources that they need in order to advance new products to treat ophthalmic diseases and preserve vision for millions of patients.”