Funding profile · Biotechnology, drug discovery
General Proximity
A San Francisco proximity medicine platform that has announced two rounds and grant and pharma relationships since coming out of stealth in January 2025. Only one Form D exists in EDGAR, and it belongs to a small investment vehicle, not the company. Here is what the record shows, and where the company’s own numbers stop lining up.
$16.0MSeed, company-reported at stealth exit (Jan 2025)
$12.0MPre-Series A, company-reported, 2x oversubscribed (Mar 2026)
>$20MTotal raised to date, company-reported (May 2026)
$276KSold by a Series LLC investment vehicle, 14 investors, per amended Form D (Apr 2026)
Data as of September 22, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Early 2020 | Accelerator and seed tranche | $150,000 plus $150,000, per PitchBook | Y Combinator; unnamed seed backers | Data provider |
| By Jan 2025 | Pre-seed | Not disclosed | Led by Y Combinator and Jim Dahl, Rock Creek Capital | Company release |
| By Jan 2025 | Seed, oversubscribed | $8.0M | Led by Aydin Senkut, Felicis; joined by age1, Modi Ventures, Wilson Sonsini, and, per a separate account, Healthspan Capital, Lifespan Vision Ventures and Laura Deming’s Longevity Fund | Company release |
| Jan 3, 2025 | Stealth exit total | $16.0M | Combined pre-seed and seed, plus grants | Company release |
| Oct 2024 to 2025 | Federal and non-dilutive | $3.0M ARPA-H (claimed) plus $400K NIH NCI SBIR (claimed) | ARPA-H Sprint for Women’s Health; NIH National Cancer Institute | ARPA-H list + company |
| Oct 2025 to Apr 2026 | Series LLC syndicate | $276,250 sold, 14 investors | Administered vehicle, General Proximity, a Series of VUVP Fund LLC | Form D + D/A |
| Mar 11, 2026 | Pre-Series A, oversubscribed | $12.0M | Not named by the company | Founder social post |
| May 4, 2026 | Strategic investment | Not disclosed | FreeMind Investments and Daewoong Pharmaceutical | Company release |
What the filings show
General Proximity, a Series of VUVP Fund LLC · Form D · filed Oct 6, 2025
- First sale
- Sep 20, 2025
- Offered
- Indefinite amount, pooled investment fund
- Sold
- $96,250 · minimum investment $5,000
- Investors
- 9 · average about $10,700
- Exemption
- Rule 506(b); Investment Company Act Section 3(c)(1)
- Related persons
- Finally Fund Admin LLC (issuer’s manager); Melissa Garlough (executive officer); Joseph Fernandes (managing director of the manager)
- Filing
- SEC EDGAR, CIK 0002090004
General Proximity, a Series of VUVP Fund LLC · Form D/A · filed Apr 22, 2026
- Amends
- Accession 0002090004-25-000001
- Offered
- $276,250
- Sold
- $276,250 · $0 remaining, minimum investment $5,000
- Investors
- 14 · average about $19,700
- Sales expenses
- $26,250, described as a one time cost to cover fund organization and operating expenses
- Exemption
- Rule 506(b); Investment Company Act Section 3(c)(1)
- Related persons
- Finally Fund Admin LLC (issuer’s admin manager); Melissa Garlough (executive officer); Joseph Fernandes (managing director of the issuer)
- Filing
- SEC EDGAR, CIK 0002090004
Reading the filings
- The only Form D on file is not the company’s own.General Proximity, Inc. has never filed a Form D under its own name in EDGAR, despite saying it has raised $16 million to $28 million since 2020. Some private raises use exemptions that need no Form D, so the absence does not prove the rounds did not happen, but it means none of the institutional rounds can be checked against a federal filing.
- The one filing that exists is a small angel vehicle, not the seed or pre-Series A round.General Proximity, a Series of VUVP Fund LLC is administered out of Austin, Texas by Finally Fund Admin LLC. Its first sale was Sep 20, 2025, eight months after the January 2025 stealth announcement and five months before the pre-Series A. At $5,000 minimum tickets and $276,250 sold across 14 investors, this reads as a retail sized angel syndicate, not the lead checks from Felicis or the pre-Series A investors.
- The investor count almost doubled between filings.The original Form D listed 9 investors and $96,250 sold; the amendment six and a half months later shows 14 investors and $276,250 sold, average check size rising from about $10,700 to about $19,700, consistent with a rolling raise.
- The company’s own funding total does not add up.General Proximity said $16 million at its January 2025 stealth exit. In March 2026 Cognetta announced a “$12M, 2x over-subscribed, pre-Series A round” on social media, which added to the first figure puts cumulative fundraising near $28 million. But the company’s own May 2026 release says it “has raised over $20 million.” No public accounting resolves the roughly $8 million gap.
- A quarter or more of the money may be non-dilutive, if the company’s figures hold.General Proximity says it holds a $3 million ARPA-H award and a $400,000 NIH SBIR grant. ARPA-H confirms it as an awardee named Oct 23, 2024, but gives only a $110 million program total, so the $3 million figure cannot be checked.
- Strategic investors are arriving without disclosed terms.Daewoong Pharmaceutical and its venture partner FreeMind Investments invested on May 4, 2026, five and a half months after General Proximity’s collaboration with Daewoong’s larger peer Daiichi Sankyo. Neither deal discloses an amount.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Pharma partnership | Oncology collaboration with Daiichi Sankyo, announced Nov 12, 2025, through Daiichi’s Boston institute. Terms not disclosed. | Company-stated |
| Strategic investor | Daewoong Pharmaceutical and FreeMind invested May 4, 2026, citing interest in a future collaboration. Amount not disclosed. | Independent + company |
| Federal recognition | Named ARPA-H Sprint for Women’s Health awardee, Oct 2024, one of 24 teams sharing a $110 million program. | Public record |
| Pitch competition wins | Company says it holds five pharma Golden Ticket awards, from AbbVie, Servier, Astellas, Ono and Bristol-Myers Squibb, plus a JLabs incubator spot. | Company-stated |
| Clinical stage | No FDA record and no registered clinical trial. As of an April 2025 interview the company described lead optimization underway on at least one program, with a first clinical trial not yet filed. | Preclinical |
What to watch
- A Form D filed under General Proximity, Inc.’s own name for the March 2026 pre-Series A, which would be the first federal filing tied directly to the operating company rather than an investment vehicle.
- Any public reconciliation of the $16 million, $12 million and “over $20 million” figures used in three separate releases.
- Disclosed economics from the Daiichi Sankyo collaboration or a converted strategic deal with Daewoong Pharmaceutical.
- An IND filing or registered trial for whichever program the company moves out of lead optimization first.
The General Proximity story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- IndependentGeneral Proximity and Daiichi Sankyo collaborate on oncology
- IndependentDaewoong, FMI invest in General Proximity to advance induced-proximity drugs
- DataGeneral Proximity company profile, funding and patent data
- CompanyGeneral Proximity De-Stealths with $16M to Pioneer Next-Gen Induced Proximity Medicines for Undruggable Targets
- CompanyGeneral Proximity Announces Multi-Target Collaboration with Daiichi Sankyo
- CompanyFreeMind Investments and Daewoong Pharmaceutical Co., Ltd. Invest in General Proximity
- CompanyAnnouncing General Proximity’s $12M, 2x over-subscribed, pre-Series A round
Compiled from SEC and other public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date. Healthcare Venture Capital Fund holds no position in General Proximity. This page is not an offer to sell or a recommendation to buy any security.