The not-for-profit venture capital fund, founded in 2018 and based in Raleigh, North Carolina, is a subsidiary of the Foundation Fighting Blindness. The Retinal Degeneration Fund seeks to make venture philanthropy investments in companies developing therapeutic technologies for inherited retinal diseases and macular degeneration. Its focus is on mission-related investments in companies with projects nearing clinical testing to rapidly drive research toward preventions, treatments, and cures for blinding retinal diseases such as retinitis pigmentosa, macular degeneration, and Usher syndrome.