The Venture Codex

Participated · Seed · Jul 2026

Elle MD is developing a non-hormonal, easily removable vaginal contraceptive ring intended as a new option for birth control. The company has assembled a team including founder Jennifer Johnston, MD and several named contributors and advisors. It secured C$1.1 million in an oversubscribed pre-seed financing round to advance its program. The immediate plan for the capital is to enable the company's First-in-Human clinical trial at The Ottawa Hospital. The fundraising included multiple institutional and regional investors and local funds. No revenue, user metrics, prior valuations, or earlier funding rounds were disclosed in the announcement.

Participated · Series C · Oct 2025

Felix Health delivers telehealth services that enable Canadians to obtain consultations and prescriptions for birth control, PrEP, weight loss, hair loss, erectile dysfunction, skin care, menopause, anxiety, and other mental-health needs. The company recently broadened its scope with Felix Longevity, a preventive wellness program that analyzes more than 35 biomarkers related to metabolic, vitamin, and thyroid health. Management plans to deepen its preventive-care and testing offerings and to scale its weight-loss platform ahead of expected generic GLP-1 availability in Canada by 2026. Felix reported a $150 million revenue run rate in its current fiscal year, reflecting 80% year-over-year growth. Earlier financing of C$18 million in 2023 funded the launch of more complex care categories and therapeutic services. The new capital allows Felix to continue hiring and to expand its holistic, patient-centered virtual care experience.

Participated · Seed · Apr 2023

Aqua Cultured Foods develops whole‑muscle seafood alternatives — calamari, shrimp, scallops, tuna and whitefish filets — plus minced fillings for dumplings, ravioli and sushi. The company uses proprietary mycoprotein (fungi) fermentation processes with no animal inputs or genetic modification and says its products are optimized to be consumed raw with textures close to conventional seafood. Aqua is Chicago‑based and recently acquired a 5,000‑square‑foot food‑grade pilot facility and expects to begin manufacturing first products (tuna, scallops and ground shrimp) by early summer. The team says a 450‑square‑foot grow space could produce between 5,000 and 10,000 pounds of product, supporting decentralized manufacturing for future market expansion. Planned uses of the new funding include hiring, expanding restaurant and foodservice introductions, and running chef pop‑ups to gauge demand. Financially, the company announced a $5.5M seed round and has raised just over $8M to date. Aqua Cultured Foods makes animal-free seafood analogs using a microbial fermentation process and a proprietary strain of fungi. The company produces a “whole-grown” protein it says requires no extra processing or genetic modification, yielding a more robust nutritional profile than many plant-based seafood options. Its inherently flavorless base can be fine-tuned late in the growth process to create textures and flavors for products such as tuna, whitefish, calamari, shrimp, and scallops. Founded in 2020 and based in Chicago, Aqua Cultured Foods raised $2.1 million in pre-seed funding to support rapid growth. The startup is targeting 2022 for commercial releases, initially via limited-time foodservice offerings with retail planned later, and reports early sales interest and strategic partnerships. The new capital will be used to build the team and accelerate R&D to iterate on texture, shape, nutritional value, and flavor to bring products closer to animal-derived versions.

Participated · Series A · Mar 2023

Mad Rabbit Tattoo is a Los Angeles-based tattoo skincare brand led by Oliver Zak and Selom Agbitor. It offers a clean, integrated skincare solution covering preventative care, new-tattoo aftercare, and daily tattoo skin essentials with an environmentally conscious approach. The brand currently markets nine skincare products online (madrabbit.com, verishop.com, vitaminshoppe.com) and in retail via 350 Urban Outfitters, 1,200 GNC locations and 350 tattoo shops nationwide. The company raised $10M in a Series A at a $56M valuation. The round was led by Lucas Brand Equity and included Mark Cuban, Acronym Venture Capital and H Venture Partners, with Lucas Brand Equity partner Ian Knowles joining the board. Mad Rabbit intends to use the funds to expand its product line, increase marketing, and grow its team. Mad Rabbit launched in 2019 and grew from its founders selling tattoo balm from dorm rooms into a consumer lifestyle brand. The company offers an all‑natural product line including Mad Rabbit Enhance tattoo balm, Mad Rabbit Defend SPF 30 sunscreen, and Mad Rabbit Repair soothing gel. It positions itself on experiential marketing and storytelling with a strong social media presence and the 'Spilling Ink' series featuring athletes such as Ashlyn Harris and Caeleb Dressel. Mad Rabbit emphasizes safe, skin-friendly ingredients to fill a perceived void in the tattoo aftercare market. The brand plans to expand its experiential lifestyle presence and deepen connections with tattoo consumers.

Participated · Series A · Jul 2021

Avaline produces 'clean' wines made from organic grapes with disclosed ingredients and nutritional information, including White, Rosé, Red, Sparkling, and a DTC-exclusive Sparkling Rosé 375ml. The digitally native brand emphasizes social marketing and community engagement, tallying over 119K Instagram followers, 15K+ one-on-one conversations, and more than 28 million video views since launch. Avaline launched in July 2020 and is available in retail locations across 46 states and direct-to-consumer in 13 states, with plans to ship to nearly 40 states by year-end. The company reports Avaline White drove 47% of ultra-premium white blend category growth (SPINS, 26 weeks ending 4-4-21) and says revenue is on track to quadruple in 2021 versus 2020. Future plans include building the team, expanding retail distribution, accelerating the DTC platform, expanding internationally, and entering new product categories.