Funding profile · Veterinary precision oncology

FidoCure

About $16 million of venture capital by the end of 2020, then nothing announced for four and a half years. The only Regulation D paperwork on file came from two small syndicates that bought in during 2025, not from the company itself.

$16.0MVenture capital raised, as reported at the Series A (Oct 2020)
$10.0MSeries A, led by Polaris Partners and Borealis Ventures
$266.7KCombined, sold by two 2025 single-company SPVs
0Form D filings by One Health Company itself, in all of EDGAR

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Winter 2018 Y Combinator Not disclosed Y Combinator Founder interview
By Apr 2019 Seed $5M Led by Andreessen Horowitz; Y Combinator Independent
Oct 29, 2020 Series A $10M Led by Polaris Partners and Borealis Ventures; a16z, Lerer Hippeau, Y Combinator, Tau Ventures Company release
By Nov 2022 Later investors named Not disclosed Global Brain Corporation, Bossanova Investimentos Independent
Mar 2025 SPV: FidoCure Feb 2025, a Series of CGF2021 LLC $40,500 9 investors; administered by Sydecar Form D
Apr 2025 SPV: FidoCure, a Series of VUVP Fund LLC $226,232 12 investors; managed by Finally Fund Admin Form D
Apr 14, 2025 Investment announced by a syndicate Not disclosed Oncology Ventures Investor

What the filings show

FidoCure, a Series of VUVP Fund LLC · Form D · filed May 29, 2025

First sale
Apr 27, 2025
Type
Pooled fund, single-company SPV, Delaware
Offered
$226,232
Sold
$226,232 · $0 remaining
Investors
12 · average about $18,853 · minimum accepted $5,000
Exemptions
Rule 506(b); Investment Company Act 3(c)(1)
Related persons
Finally Fund Admin LLC (manager); Melissa Garlough (officer of the manager); Joseph Fernandes (managing director of the manager)
Expenses
$41,747 estimated, about 18.5% of the raise
Filing
SEC EDGAR, CIK 0002069330

FidoCure Feb 2025, a Series of CGF2021 LLC · Form D · filed May 16, 2025

First sale
Mar 8, 2025
Type
Pooled fund, venture capital, Delaware
Offered
$40,500
Sold
$40,500 · $0 remaining
Investors
9 · average exactly $4,500 · no minimum
Exemptions
Rule 506(b); Investment Company Act 3(c)(1)
Related persons
Sydecar LLC (administrator); Brett Sagan (officer of the administrator)
Expenses
$3,645, exactly 9% of the raise
Filing
SEC EDGAR, CIK 0002061244

Reading the filings

  1. The company has never filed a Form D.EDGAR company and full-text searches return no Regulation D notice from One Health Company or FidoCure Inc. The $5 million seed and the $10 million Series A left no Form D behind. Issuers that raise under Section 4(a)(2) file nothing, so the absence does not mean the rounds did not happen. It does mean the only primary documents come from other people.
  2. Both 2025 filings are late.Form D is due within 15 days of the first sale. The Sydecar vehicle sold first on March 8 and filed May 16, 69 days later. The VUVP vehicle sold first on April 27 and filed May 29, 32 days later. Late filings are common among small syndicates, but the pattern marks these as administrator-run vehicles.
  3. These are angel tickets, not a round.21 investors put in $266,732 between them, about $12,702 each. The Sydecar vehicle averages exactly $4,500 across nine people. Numbers that size buy a small allocation in someone else’s priced round, not the round itself. That round has not been announced.
  4. The VUVP vehicle is expensive.It set aside $41,747 of a $226,232 raise for organization and operating costs, about 18.5 cents of every dollar. The Sydecar vehicle set aside $3,645 of $40,500, exactly 9%. An 18.5% load is high even by SPV standards.
  5. The timing lines up with a public announcement.Oncology Ventures published its FidoCure investment thesis on April 14, 2025. The VUVP vehicle recorded its first sale on April 27, 2025. Neither filing names Oncology Ventures, so the connection is circumstantial.
  6. Nothing non-dilutive is on the books.The federal grant databases return no NIH or NSF award to One Health Company or FidoCure. Every dollar here appears to be equity, and the company subsidizes patient drug costs out of it. Ben Lewis said in 2020 that the Silicon Valley backers “actually subsidize the cost considerably for pet parents.” That is a cost line funded by the balance sheet, not by gross margin.

Commercial signals

Signal Detail Source type
Regulatory No FDA approved, conditionally approved or indexed animal drug. Revenue comes from a laboratory test plus access to extralabel human drugs compounded by partner pharmacies. Public record
Intellectual property US Patent 12036281-B2 granted 2024 on a mutation guided approach to canine bladder cancer; eight applications reported pending. Public record
Distribution IDEXX Reference Laboratories began offering the sequencing test to US and Canadian veterinary clients in January 2022. Partner-stated
Network Thrive Pet Healthcare, more than 350 clinics, June 2022. Company reported 1,350 clinics in August 2024, which does not reconcile with its other published counts. Company-stated
Competitive position VolitionRx names One Health Company (Fidocure) as a veterinary-space competitor in every annual report from 2022 through 2026, with PetDx and Vidium Animal Health in earlier filings. Public record
Second revenue line Positions its dataset, reported as two billion data points from about 6,000 cases, as a de-risking platform for pharma R&D. One named collaboration, with Eisai. Company-stated

What to watch

  • A Series B announcement, or a Form D from the company itself, which would put a number on the round the 2025 SPVs bought into.
  • A named pharma agreement with disclosed economics. The data business is what investors are paying for, and it rests on one collaboration.
  • Any regulatory submission for the patented bladder cancer therapy, which would turn a services company into a drug sponsor.
  • Whether the drug subsidy narrows. It sits between the company and gross margin.

The FidoCure story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Dr. Treat: Shared investor: Finally Fund. A membership veterinary practice built around two clinics in the San Francisco Bay Area, pitched by its founders as “One Medical for pets” and backed by a seed round
  • General Proximity: Shared investor: Finally Fund. A San Francisco biotech built on one idea: most disease driving proteins can be controlled, not just blocked, given the right partner protein
  • Triomics: Shared investor: Oncology Ventures. An oncology-tuned language model that reads the whole cancer chart and hands research coordinators a cited worklist before clinic opens
  • Science Exchange: Shared investor: Andreessen Horowitz. A marketplace for ordering experiments that became procurement software for big pharma, and that sourced the laboratories for the largest public test of whether

Sources

  1. Public recordForm D, FidoCure a Series of VUVP Fund LLC, CIK 0002069330SEC · May 29, 2025
  2. Public recordForm D, FidoCure Feb 2025 a Series of CGF2021 LLC, CIK 0002061244SEC · May 16, 2025
  3. Public recordVolitionRx Limited annual reports on Form 10-K, competition sectionsSEC EDGAR · 2022 through 2026
  4. Public recordUS Patent 12036281-B2USPTO · granted 2024
  5. Public recordAnimal Drug Compounding and Conditional Approval resourcesFDA Center for Veterinary Medicine · accessed Sep 23, 2026
  6. IndependentMeet The Married Couple Who Just Raised $10 Million To Improve Cancer Treatments For DogsForbes, Alex Knapp · Oct 29, 2020
  7. IndependentChristina Lopes, The One Health Company CEO and Co-founderCFI.co · Nov 28, 2022
  8. InvestorOncology Ventures: Investment in FidoCureOncology Ventures, Ben Freeberg · Apr 14, 2025
  9. InterviewWhat is FidoCure? Ben Lewis deep diveDog Cancer Answers · 2020
  10. CompanyOne Health Company Secures $10M To Expand Access To Precision Cancer Treatment for DogsPR Newswire · Oct 29, 2020
  11. CompanyFidoCure Receives Patent for AI-Driven Drug DevelopmentBusiness Wire · Aug 13, 2024
  12. PartnerThrive Pet Healthcare and FidoCure partnership announcementThrive Pet Healthcare and FidoCure · Jun 2022

Compiled from SEC, FDA, USPTO and other public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in FidoCure or One Health Company. This page is not an offer to sell or a recommendation to buy any security.