Funding profile · Neurovascular devices
Vena Medical
A Kitchener medtech with two regulators behind it and almost no capital record. It files nothing with the SEC, and the only verifiable large sums are a provincial grant and the plant it paid for.
$1.5MOntario Life Sciences Scale-Up Fund award, Feb 2026
$4.5MKitchener Manufacturing Centre of Excellence, company-stated
$290KDisclosed private funding, seven rounds, third party database
0Filings of any kind on record with the SEC
Data as of September 22, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Before 2018 | University awards and pitch prizes | $50,000 named | Palihapitiya/Lau Venture Creation Fund; Norman Esch Awards; Velocity Fund Finals | University |
| Feb 2018 | Incubator and accelerator | Not disclosed | Y Combinator, Winter 2018; TMCx, Houston | Database, company |
| Nov 2019 and Nov 2021 | Series A, two tranches | Not disclosed | One Canadian venture firm, unnamed in the public record | Database |
| Mar 27, 2024 | Angel | $130,000 | Adrenaline Fund, an angel group | Database |
| 2022 to 2024 | OBIO Early Adopter Health Network | Not disclosed | Ontario Bioscience Innovation Organization, funding VANISH | Company release |
| Feb 25, 2026 | Ontario Life Sciences Scale-Up Fund, non-dilutive | $1.5M | Government of Ontario | Public record |
What the public filings show
SEC EDGAR · no filings · searched Sep 22, 2026
- Company records
- None. EDGAR company search returns no match.
- Form D
- None, under any filer name.
- Full text search
- Zero hits, so no third party vehicle names it either.
- Reading
- Consistent with a Canadian issuer selling to Canadian investors, which needs no Regulation D exemption.
Health Canada · Medical Device Licences · MDALL
- Licence 107319
- Vena Balloon Distal Access Catheter, Class II, single device, first licensed Jan 26, 2022
- Licence 113472
- Vena MicroAngioscope System, Class II, system licence, first licensed Jun 6, 2025
- Licence holder
- Vena Medical Holdings Corp., company ID 168957, Kitchener, status active
- Announcement lag
- Issued Jun 6, 2025, announced Sep 25, 2025, 111 days later
FDA · 510(k) clearances and establishment registration
- K251767
- Received Jun 10, 2025, cleared Oct 1, 2025. Peripheral vasculature. Predicate: Olympus AF Angioscope System, K911278
- K253842
- Received Dec 2, 2025, cleared Jan 28, 2026. Peripheral and coronary vessels. Predicate: 4.5F ImageCath Coronary Angioscope, K952638
- Registration
- Establishment 3016481619, Kitchener; US agent QA/RA Consulting Group, Beaver PA
- Supply chain
- Myriad Fiber Imaging Technologies, Dudley MA; Blue Line Sterilization Services, Novato CA
Reading the filings
- There is no Regulation D paper trail to read.No CIK, no filing, no full text hit. That is not evidence that little was raised, only that it was raised outside the US exemption regime. The capital history has to be rebuilt from grants, databases and press reports, all weaker.
- The disclosed equity is tiny against the build.One database records seven rounds and 13 investors totalling $290,000, an average of about $22,300 each. A second records a $125,000 seed at a $2.0M valuation. Those sums cannot have funded two device programmes, four peer reviewed papers and a cleanroom. The 2019 and 2021 Series A tranches carry no amount at all, which is where the real money almost certainly sits.
- Non-dilutive capital is doing visible work.The Ontario Life Sciences Scale-Up Fund put $1.5M against the manufacturing centre. The fund covers up to a third of project cost, and $1.5M is exactly one third of $4.5M. Add the OBIO Early Adopter Health Network, which paid for the VANISH evaluation, and FedDev Ontario, behind Velocity Health. Public money, not venture money, is the visible balance sheet.
- The project total does not reconcile across outlets.CTV reads the $4.5M as the whole project, the province covering almost $1.5M of it, putting Ontario at 33 per cent. CityNews reads it as the company’s own money on top of the $1.5M, making the project $6.0M and Ontario 25 per cent. Vascular News prints US$4.5 million; the Canadian outlets state no currency.
- The clearance landed well before the announcement.The first clearance was decided Oct 1, 2025 and never announced. The second was decided Jan 28, 2026 and announced 28 days later, alongside the plant opening and the provincial cheque. The press framed it as peripheral only; that decision covers peripheral and coronary vessels.
- Headcount is the cleanest growth series available.Seven people at the 2022 licence, nine existing positions supported by the 2026 provincial award, 13 new roles funded on top. A $5M revenue estimate for 2024 circulates on one database, but that profile names the wrong chief executive and records $0 in funding, so it carries no weight.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Canada | Both products licensed. The camera licence covers peripheral, coronary and neurovasculature, and it is on sale. | Public record |
| United States | Camera cleared for peripheral and coronary vessels, with no neurovascular indication. The balloon catheter has no US clearance. | Public record |
| US customers | University of Texas Medical Branch, first site, seven cases. Staten Island University Hospital, Northwell, second site, May 2026. | Company-stated |
| Canadian customers | The Ottawa Hospital, Toronto Western, University of Alberta Hospital, Royal University Hospital. More than 100 patients by February 2026. | Company-stated |
| Manufacturing | Kitchener cleanroom opened February 2026, reshoring processes previously run in the US, where contract manufacture and sterilization stay registered. | Public record |
What to watch
- A financing announcement. The company has been silent on equity since 2021 while funding a plant and a US launch.
- A third FDA submission adding the neurovasculature, where the clinical story already is, or a US filing for the balloon catheter.
- Any SEC filing at all, which would signal a US round and make this page far more precise.
The Vena Medical story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- Public recordFDA 510(k) clearance letters and summaries, K251767 and K253842
- Public recordHealth Canada MDALL licences 107319 and 113472, company record 168957
- Public recordFDA establishment registration and device listing, Vena MicroAngioscope System
- Public recordSEC EDGAR company search and full text search, no results
- Public recordIntellijoint Surgical and Vena Medical awarded $1.9 million from the Life Sciences Scale-Up Fund
- Independent2 Kitchener-based companies receive funds from province to expand production capacity
- IndependentTwo Kitchener-based medical technology companies to ramp up thanks to funding boost
- IndependentBig cash, AI support, and new jobs coming to Kitchener
- IndependentVena Medical secures US FDA clearance for MicroAngioscope system
- IndependentVena Medical gains second U.S. commercial site and device guide listing for MicroAngioscope
- DatabaseVena Medical funding, investors and deal terms
- DatabaseVena Medical company information, funding and investors
- CompanyThe Ottawa Hospital first to adopt the Vena BDAC, with the OBIO evaluation result
Compiled from SEC, FDA, Health Canada and Government of Ontario public records and published reports as of September 22, 2026. No Regulation D filings exist for this company, so the round history above rests on third party databases and press reports and is incomplete. Healthcare Venture Capital Fund holds no position in Vena Medical. This page is not an offer to sell or a recommendation to buy any security.