Vision Catalyst Fund

Quick Stats

• Annual Giving: Not publicly disclosed (inaugural grants: £470,000 in 2024)
• Success Rate: Approximately 7% (4 of 58 concept notes awarded in first round)
• Decision Time: Quarterly decision-making meetings (rolling applications)
• Grant Range: £15,000 - £200,000
• Geographic Focus: Low and middle-income countries (focus on Commonwealth nations and countries including Cambodia, Cameroon, DRC, Ethiopia, India, Liberia, Nepal, Niger, Pakistan, Peru, South Africa, South Sudan, Tanzania, Uganda, Vietnam, Zambia, and Zimbabwe)

Contact Details

Website: www.visioncatalystfund.org

Email: info@visioncatalystfund.org

Phone: 020 8989 8045

Address: First Floor, 10 Queen Street Place, London EC4R 1BE

For application discussions, contact the fund directly via email.

Overview

The Vision Catalyst Fund (VCF) is a registered charity (No. 1190732) established in 2020, co-founded by Professor Andrew Bastawrous (CEO of Peek Vision) and Dr. Astrid Bonfield (former Chief Executive of The Queen Elizabeth Diamond Jubilee Trust). Building on the legacy of The Queen Elizabeth Diamond Jubilee Trust, Standard Chartered Bank's Seeing is Believing, and Essilor's See Change campaign, the VCF aims to raise $1 billion in catalytic funds to address the fact that over 1 billion people live with treatable vision loss. The fund operates as the first coordinated global mechanism dedicated to eye health funding, pooling donor resources and directing capital directly to government-led eye health plans in low and middle-income countries. The VCF employs innovative financing mechanisms, including an Eye Health Accelerator Bond developed with P1 Capital and a Social Impact Guarantee with Tri-Sector Associates. Every $1 invested in eye health can unlock $36 in local economic value and accelerate GDP growth.

Funding Priorities

Grant Programs

Eye Health Accelerator Programme: £15,000 - £200,000

• Multi-year grants for catalytic eye health programmes focused on system change
• Inaugural round awarded £470,000 total to four organizations (2024)
• Rolling applications with quarterly decision-making meetings
• Emphasis on programmes that scale access to vision services

Product Donations Programme

• EssilorLuxottica donating up to 200 million pairs of lenses by 2030
• Partnerships provide reading glasses and frames (no financial grant currently offered, but may be added in future)

Priority Areas

The VCF funds programmes that demonstrate:

• Potential Route to Scale: Clear pathways to broad and sustainable impact on eye health
• Catalytic Opportunities: Ability to spark transformative change and innovation within the eye health sector
• Risk and System Change: Initiatives embracing risk capable of putting in motion significant systemic changes
• Government Commitments and Leverage Opportunities: Programmes working with government-led eye health plans

Specific focus areas include:

• Market shaping for eyeglasses and vision services
• Integration of eye health into national health systems and child healthcare
• Developing public health services for eye diseases and conditions
• Digital eye health services
• Providing vision care to underserved populations (elderly, children, rural communities)

What They Don't Fund

While explicit exclusions are not publicly stated, the fund clearly prioritizes:

• Government-led or government-integrated programmes (not standalone projects without government connection)
• Programmes in low and middle-income countries (not high-income nations)
• Scalable solutions with system-change potential (not small-scale or purely service-delivery projects)

Based on their focus, the fund does not appear to support:

• Projects in high-income countries
• Research-only initiatives without implementation components
• Projects without clear pathways to scale or government integration

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Governance and Leadership

Chief Executive

Adam Askew - Nearly 20 years of experience building partnerships and funding solutions; Board Member of Global Dignity; Chair of Governors for a local primary school

Board of Trustees

• Professor Andrew Bastawrous - Co-founder and CEO of Peek Vision, an eye health technology social enterprise. He stated: "For the first time in human history, it is within our power to eliminate avoidable blindness and poor vision, for everybody, everywhere. Every country in the Commonwealth has the opportunity to transform their citizens' eye health, in a matter of years, not generations. But no country can do this alone."

• Dr. Astrid Bonfield CBE - Co-founder, former Chief Executive of The Queen Elizabeth Diamond Jubilee Trust. She noted: “I am delighted that a diverse range of partners are coming together to help develop and progress this exciting and ambitious initiative with the potential to create new approaches to funding eye health. We have a big job ahead of us to shape the Fund, attract investors and ensure collaboration with governments to meet the needs of millions of people yet to be reached.”

• Alex Kennedy - Head of Sustainable Finance at Standard Chartered

• Eleanor Fuller OBE - Former Ambassador and Charity Director

• Dr. Jordan Kassalow - Co-founder of EyeAlliance, Founder of VisionSpring

• Ashish Goyal - Financial Professional and Disability Advocate

Founding Partners

• EssilorLuxottica
• Standard Chartered
• International Agency for the Prevention of Blindness
• UBS Optimus Foundation
• Philanthropist James Chen

Application Process and Timeline

How to Apply

• Application Method: Rolling applications with quarterly decision-making meetings
• First Step: Submit a concept note through the VCF website or contact info@visioncatalystfund.org
• Application Format: Concept notes are reviewed by the selection committee
• Organizations should express interest directly via the website contact form or email

Decision Timeline

• Review Cycle: Quarterly decision-making meetings
• Selection Process: Concept notes are evaluated against four key criteria before full application invitation
• Notification: VCF contacts applicants to discuss applications further; specific notification timelines vary

Success Rates

The inaugural Eye Health Accelerator round received 58 concept notes and awarded grants to 4 organizations, yielding approximately a 7% success rate. This reflects the highly competitive nature and rigorous selection criteria used by the fund.

Reapplication Policy

No specific reapplication policy is publicly stated. Contact the fund directly at info@visioncatalystfund.org for guidance on resubmission after an unsuccessful application.

Application Success Factors

Key Selection Criteria

The VCF evaluates proposals based on four critical principles:

1. Potential Route to Scale: Applications must demonstrate “a clear and promising pathway to scale, indicating the potential for a broad and sustainable impact on eye health.”

1. Catalytic Opportunities: Successful programmes “demonstrate the ability to spark transformative change and innovation within the eye health sector.”

1. Risk and System Change: The fund values “initiatives that embrace a level of risk which are capable of putting in motion significant systemic changes, fostering a culture of innovation and adaptability.”

1. Government Commitments and Leverage Opportunities: Strong alignment with government-led eye health plans and ability to leverage government funding.

Examples of Funded Projects

Clinton Health Access Initiative (South Africa, £100,000): Strengthening digital eye health services

International Centre for Eye Health (Tanzania, £200,000): Integrating eye health into child healthcare systems

RestoringVision (Peru, £50,000): Providing reading glasses to elderly populations

VisionSpring (Uganda, £120,000): Establishing comprehensive vision services in communities

Language and Terminology

The VCF emphasizes:

• “Catalytic” programmes and opportunities
• “System change” and “systemic impact”
• “Scale” and “pathways to scale”
• “Government-led” and “integration” into health systems
• “Sustainable” and “multi-year” approaches
• “Transformative change” and “innovation”

Tips for Standing Out

• Clearly articulate how your programme will achieve scale beyond pilot phase
• Demonstrate alignment with government priorities and existing health plans
• Show innovation and willingness to embrace calculated risk
• Emphasize system-change mechanisms, not just service delivery
• Provide evidence of potential for replication in other countries or regions
• Highlight the economic impact and return on investment (using VCF's economic multiplier framework)
• Connect to the VCF's mission: “To mobilise and direct the capital needed so that governments can deliver lasting, sustainable eye health for their populations”

Key Takeaways for Grant Writers

• Highly competitive funding: With only a 7% success rate (4 of 58 concept notes), applications must be exceptional and clearly aligned with all four selection criteria
• Scale is non-negotiable: The VCF is not interested in small-scale service delivery; demonstrate clear pathways to reaching hundreds of thousands or millions of people
• Government connection essential: Programmes must integrate with or support government-led eye health plans—standalone NGO projects are unlikely to succeed
• Innovation + risk tolerance valued: The fund explicitly seeks programmes that embrace risk to create systemic change; safe, incremental approaches are less competitive
• Economic impact matters: Frame your proposal using the VCF's economic multiplier ($1 invested generates $36 in economic value); show how eye health improves productivity and GDP
• Multi-year commitment: The fund seeks sustained, catalytic programmes, not one-off interventions—demonstrate long-term sustainability plans
• Apply early in rolling cycle: With quarterly decision meetings, submit concept notes early in the quarter to allow adequate review time

References

1. Vision Catalyst Fund official website - https://visioncatalystfund.org
2. Vision Catalyst Fund About page - https://visioncatalystfund.org/about
3. Vision Catalyst Fund Accelerator page - https://visioncatalystfund.org/accelerator
4. UK Charity Commission Register - VISION CATALYST FUND (1190732) - https://register-of-charities.charitycommission.gov.uk/en/charity-search/-/charity-details/5151523
5. “The Vision Catalyst Fund Announces Inaugural Financial Grants for Its Eye Health Accelerator Programme” - https://visioncatalystfund.org/news/the-vision-catalyst-fund-announces-inaugural-financial-grants-for-its-eye-health-accelerator-programme
6. International Agency for the Prevention of Blindness - “£1m in grants offered by the Vision Catalyst Fund” - https://www.iapb.org/news/1m-in-grants-offered-by-the-vision-catalyst-fund/
7. International Agency for the Prevention of Blindness - Vision Catalyst Fund Member Directory - https://www.iapb.org/connect/members/members-directory/vision-catalyst-fund/
8. Peek Vision News - “$1bn Vision Catalyst Fund to be established” - https://peekvision.org/en_GB/news/story/1bn-vision-catalyst-fund-to-be-established-to-provide-vision-to-entire-populations-across-the-world
9. International Centre for Eye Health - “International Centre for Eye Health receives Inaugural Vision Catalyst Fund Eye Health Accelerator Grant” - https://blogs.lshtm.ac.uk/iceh-new/international-centre-for-eye-health-receives-inaugural-vision-catalyst-fund-eye-health-accelerator-grant/