Chicago Pacific Founders has exited its investment in Hamilton, Ontario-based veterinary AI company CoVet following its acquisition by IDEXX Laboratories. This marks the first realization from CPF’s inaugural pet fund, Off Leash Capital, which closed on September 16, 2026. CPF was the sole institutional investor in CoVet, whose platform automates medical record documentation and clinical workflows for veterinarians across North America and Europe.

Gina Del Vecchio, partner at CPF Pet Fund, stated the platform has become a valuable tool globally, and called IDEXX the ideal home to scale the mission. The pet fund has made six portfolio investments in veterinary innovation, diagnostics, therapeutics, technology-enabled care, and consumer pet innovation. The global companion animal market is valued at $288.4 billion and projected to reach $560.7 billion by 2034.

IDEXX, a provider of veterinary diagnostics and IT solutions, acquired CoVet for undisclosed terms. CPF is an operator-led PE and venture firm investing in value-based care, healthcare services, AI, pet health, and aging populations.