Raise Scoreboard
Week 43Modal Labs, Inc. $602MFormfactor Inc $300MXona Space Systems Inc. $239MWaveDivision Capital XIX, LLC $163MSend Cut Send, Inc. $140MTCG Opportunity Fund II, LLC $113MCarter Investment Holdings, L.P. $112MTown.com, Inc. $104M

Weekly recap

Biggest private raises: Week 9, 2025 (Feb 24 – Mar 2)

191 companies reported $1.93B in new private raises on Form D in Week 9, 2025 (Feb 24 – Mar 2). The biggest was Eikon Therapeutics, Inc., $351M in the Bio & Health League from California. Saronic Technologies, Inc. ($348M) and Aligos Therapeutics, Inc. ($105M) rounded out the top three. The Bio & Health League led all leagues with $862M across 29 raises. California topped the state standings with $665M. That is down 8% versus the week before ($2.10B). 103 of the 191 were first-time Form D filers, led by Newleos Therapeutics, Inc. ($93.4M). In the Fund League, 178 funds reported $3.04B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Eikon Therapeutics, Inc.Bio & HealthCA$351M$400MFeb 28
2Saronic Technologies, Inc.TechTX$348M$600MFeb 25
3Aligos Therapeutics, Inc.Bio & HealthCA$105M$105MFeb 28
4Newleos Therapeutics, Inc. rookieBio & HealthMA$93.4M$93.4MFeb 24
5Merchants Capital Tax Credit Equity Fund 22, L.P. rookieReal EstateIN$81.3M$81.3MFeb 24
6Castle Creek Biosciences, Inc.Bio & HealthPA$75M$75MFeb 25
7Bambusa Therapeutics, Inc.Bio & HealthMA$53.3M$88.9MFeb 26
8ABCS Insights Inc rookieOpenFL$50M$50MFeb 24
9fal - Features & Labels, Inc.TechCA$48.8M$48.8MFeb 24
10Auditoria.AI, Inc.TechCA$38.9M$38.9MFeb 24
11JumpStart Next Fund III L.P. rookieOpenOH$24.6M$50MFeb 28
12VerAI Discoveries, Inc.OpenMA$23.9M$25MFeb 27
13HZ Arnada Point DST rookieReal EstateCA$23.6M$47.2MFeb 25
14Andium Inc.TechNY$22.2M$26.4MFeb 26
15Oncocyte CorpBio & HealthCA$21.7M$21.7MFeb 24
16Laplace Interventional, Inc.Bio & HealthMN$21.2M$25MFeb 27
17CoRegen, Inc.Bio & HealthCO$20.8M$20.8MFeb 28
18AR CPT Holdings Inc. rookieBio & HealthNJ$19.6M$19.6MFeb 24
19Lincoln Alternative Strategies LLC rookieFinanceFL$18M$250MFeb 25
20Extra Space Storage LPReal EstateUT$16.4M$16.4MFeb 26
21KKR FlowMod Aggregator LLC rookieBio & HealthCA$15.7M$26.4MFeb 27
22LSC Med Center Holdings, LLC rookieReal EstateNY$15.5M$15.5MFeb 25
23ReNue Real Estate Fund I LP rookieReal EstateAZ$15.3M$250MFeb 25
24Disa Technologies, Inc.EnergyWY$15.1M$20MFeb 24
25Atraverse Medical, Inc.Bio & HealthCA$15M$15MFeb 26

By league

LeagueRaisedRaises
Bio & Health$862M29
Tech$596M51
Real Estate$220M37
Open$173M51
Energy$34.1M5
Finance$31.9M10
Main Street$10.8M8

By state

StateRaisedRaises
California$665M31
Texas$404M20
Massachusetts$183M7
Florida$91.7M11
Pennsylvania$89.3M6
Indiana$85.7M2
New York$78.8M15
Colorado$44.8M8
New Jersey$39M5
International$33.1M17
Ohio$26.6M3
Arizona$25.8M6
Minnesota$25M2
North Carolina$20.7M6
Utah$20.1M3

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Newleos Therapeutics, Inc. rookieBio & HealthMA$93.4M$93.4MFeb 24
2Merchants Capital Tax Credit Equity Fund 22, L.P. rookieReal EstateIN$81.3M$81.3MFeb 24
3ABCS Insights Inc rookieOpenFL$50M$50MFeb 24
4JumpStart Next Fund III L.P. rookieOpenOH$24.6M$50MFeb 28
5HZ Arnada Point DST rookieReal EstateCA$23.6M$47.2MFeb 25
6AR CPT Holdings Inc. rookieBio & HealthNJ$19.6M$19.6MFeb 24
7Lincoln Alternative Strategies LLC rookieFinanceFL$18M$250MFeb 25
8KKR FlowMod Aggregator LLC rookieBio & HealthCA$15.7M$26.4MFeb 27
9LSC Med Center Holdings, LLC rookieReal EstateNY$15.5M$15.5MFeb 25
10ReNue Real Estate Fund I LP rookieReal EstateAZ$15.3M$250MFeb 25

Fund League

$3.04B across 178 funds.

#CompanyStateRaisedRaisingFiled
1West Street Climate Credit (Del) LP rookieNY$1BindefiniteFeb 24
2Ninety One Global Alternative Fund 2 SCSp - RAIF - Africa Credit Opportunities Fund 3AIntl$259M$300MFeb 26
3Footwork Fund II, L.P. rookieCA$225M$225MFeb 24
4Areim Fastigheter DC (D) AB rookieIntl$188M$886MFeb 28
5HPS SIP VI Private Investors Offshore I SICAV-RAIF S.C.Sp. rookieIntl$126MindefiniteFeb 24
6Northcote Fund I LP rookieIntl$122MindefiniteFeb 25
7TriPost Capital Asset Solutions Fund, LP rookieNY$122MindefiniteFeb 24
8HighVista Private Credit Offshore Fund III LP rookieIntl$121M$500MFeb 27
9Red Starr Fund IV, QP L.P. rookieNY$61.6MindefiniteFeb 28
10Invictus Opportunity Fund IV, L.P. rookieDC$50MindefiniteFeb 25
All 191 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Grace Therapeutics, Inc.Bio & HealthNJ$15M$30MFeb 25
27Morningstar Minerals - West, LP rookieEnergyTX$14.3M$15MFeb 27
28OneCarNow Holdings Ltd rookieTechIntl$13.5M$18MFeb 27
29Crash Override, Inc.TechNY$13.2M$15MFeb 28
30PDQ ecommerce Inc. rookieTechDE$12.5M$12.5MFeb 24
31Upperline Health Holdings, Inc.Bio & HealthTN$12.2M$12.2MFeb 28
32San Cristobal Mining Inc.OpenIntl$10.5M$10.5MFeb 28
33Diligent Robotics, Inc.TechTX$10.5M$20MFeb 27
34CoRegen, Inc.Bio & HealthCO$10M$10MFeb 28
35Vaxess Technologies, Inc.Bio & HealthMA$8.4M$10MFeb 26
36HireTeamMate, Inc.TechCA$8.1M$8.1MFeb 28
37Goflex Inc.OpenFL$7.8M$15MFeb 25
38Rift Research, Inc. rookieTechCA$7.6M$8.1MFeb 24
39Inspired Senior Living of Eatonton DST rookieReal EstateAZ$7M$19.4MFeb 28
40SCOIR, Inc.TechPA$7M$7MFeb 28
41Evenergi Labs Inc.TechMI$7M$7MFeb 26
42Ria Technology Management Inc.Bio & HealthCA$6.5M$6.5MFeb 25
43Prosper Prairie & Mahard LP rookieOpenTX$6.2M$6.2MFeb 27
44Thoro, Inc.TechPA$6.1M$6.1MFeb 27
45Kingsway Financial Services IncMain StreetIL$6M$6MFeb 25
46FC Caltopia I JV, LLC rookieReal EstateFL$5.9M$53.7MFeb 27
47Tailwind Partners LLC rookieReal EstateCO$5.9M$5.9MFeb 25
48Blp, Inc. rookieTechAR$5M$5MFeb 26
49Xolani Health System Corp rookieBio & HealthNC$5M$5MFeb 27
50Adaptive Holdings, Inc. rookieFinanceTX$5M$5MFeb 25
51WF TP Embassy Row, LLC rookieReal EstateNC$5M$5MFeb 28
52Valid8 Financial, Inc.OpenWA$4.7M$4.7MFeb 27
53Birdnest II, LLC rookieReal EstateNC$4.5M$4.5MFeb 26
54HG CoGP, LLC rookieOpenIN$4.5M$4.5MFeb 28
55Wow.ai LLC rookieTechPR$4.3M$4.3MFeb 25
56Western Station Pref Capital Partner LLC rookieReal EstateTX$4.3M$8MFeb 26
57West Main Partners LLC rookieReal EstateCA$4.2M$4.2MFeb 27
58Preservation Systems Inc. rookieOpenCO$4.2M$4.2MFeb 25
59Veritec AI Inc. rookieTechTX$4.1M$5MFeb 27
60Wandering Bear Inc.OpenNY$4M$8MFeb 26
61Wilds Golf Group, LLC rookieOpenMN$3.8M$3.8MFeb 27
62DeweyLearn, Inc. rookieOpenNY$3.8M$4MFeb 28
63Toast Empire, Inc. rookieOpenNY$3.8M$4.3MFeb 26
64Prentice DC LLC rookieReal EstateCO$3.6M$3.7MFeb 27
65Conover NC Industrial Equities LLC rookieReal EstateNJ$3.6M$3.6MFeb 26
66E-Den Home Electrification, Inc.OpenWA$3.5M$4MFeb 28
67Halda, Inc.TechUT$3.5M$3.5MFeb 27
68Delano Storage LLC rookieReal EstateOR$3.5M$3.5MFeb 25
69FarmQA, Inc.TechND$3.5M$5.3MFeb 28
70Novak Energy Fund, L.P. rookieEnergyTX$3.5M$4MFeb 25
71MACP Grandview Member, LLC rookieReal EstateFL$3.3M$3.3MFeb 26
72Filter Labs, Inc.TechMA$3.2M$4MFeb 24
73OXBRIDGE RE HOLDINGS LtdFinanceIntl$3M$3MFeb 26
74Synlico Inc.Bio & HealthCA$3M$3MFeb 25
75Eleven Platform, Inc. rookieTechNY$3M$4MFeb 27
76Argus Group Fund A LLCReal EstateCA$3M$3MFeb 24
77Elmwood 2025 LLC rookieReal EstateNC$2.9M$2.9MFeb 28
78Iantrek, Inc.Bio & HealthNY$2.8M$5.5MFeb 26
79Kangarootime, Inc. rookieTechNY$2.7M$4MFeb 28
80Timber Rock Ridge Investments LLC rookieReal EstateNY$2.4M$9.2MFeb 24
81Quantum 71 LLC rookieReal EstateTX$2.4M$3MFeb 24
82Trinity Nuclein Series C Investors LLC rookieTechTX$2.3M$15MFeb 28
83Marxent Labs, LLCTechFL$2.2M$20MFeb 27
84Gaingels Epirus 2024 LLC rookieOpenVT$2.1M$2.1MFeb 28
85Bless App Inc. rookieTechCA$2M$2MFeb 26
86PCIH Series 14 a series of Piedmont Capital Investment Holdings, LLC rookieFinanceNC$2M$2MFeb 24
87Tachin.AI Corp rookieTechCA$1.8M$3.1MFeb 28
88Kitchen Stadium Inc.TechNY$1.8M$3.1MFeb 25
89Sunny Premium Schools Investors I, LLC rookieOpenFL$1.8M$2MFeb 25
90Novak Williams Sr. Living Vertical, L.P. rookieReal EstateTX$1.6M$7.3MFeb 25
91AgentSmyth Inc. rookieFinanceNY$1.6M$12MFeb 28
92Pasadena Fair Oaks Exer Management Services, LLC rookieBio & HealthCA$1.6M$1.6MFeb 25
93Smartdata Wealth, Inc. rookieFinanceNE$1.5M$5.5MFeb 26
94BIOHM Health Inc.OpenOH$1.5M$1.5MFeb 27
95OpConnect, Inc.TechOR$1.5M$3MFeb 27
96ResBiotic Nutrition, Inc.Bio & HealthAL$1.5M$4.5MFeb 26
97Geoship SPCTechCA$1.4M$8MFeb 27
98511LB-FL, LLC rookieReal EstateAZ$1.4M$7.5MFeb 27
99Concierge Pediatrics Holdings, LLCBio & HealthNY$1.2M$5MFeb 25
100Cycle Labs, Inc.TechNC$1.2M$1.5MFeb 27
101Spot-Tech HoldingsTechIntl$1.2M$1.2MFeb 25
102AMG Ventures Fund I, LLC rookieOpenAZ$1.2M$1.2MFeb 26
103Series 3-1, a series of StartEngine Private Funds LLC rookieOpenCA$1.1M$2.5MFeb 25
104NOVODX CorpBio & HealthFL$1.1M$1.1MFeb 26
105TCIH-Portland Ave Tacoma, LLC rookieReal EstateOK$1.1M$1.1MFeb 26
106MyVFO, Inc. rookieOpenTN$1.1M$3MFeb 27
107Ridgeline Minerals CorpOpenIntl$1M$1MFeb 24
108HTLC-2, LLC rookieMain StreetVA$1M$1.5MFeb 27
109TAAT Global Alternatives Inc.OpenIntl$1M$1MFeb 25
110HTLC-7, LLC rookieMain StreetVA$942K$1.5MFeb 26
111Meridian Mining UK SocietasEnergyIntl$939K$939KFeb 28
112Zeya, Inc. rookieMain StreetCA$930K$2MFeb 28
113Maxymune Therapeutics, Inc. rookieBio & HealthCA$850K$2.5MFeb 28
114Chain.io, Inc.TechPA$825K$1.2MFeb 26
115ThinqWin Inc rookieOpenGA$825K$1.5MFeb 25
116IHC Development Fund IV, LLC rookieReal EstateAZ$730K$30MFeb 28
117OLI Technologies, Inc. rookieBio & HealthNJ$700K$1MFeb 24
118Quantum Life Enterprises, LLC rookieMain StreetFL$686K$12MFeb 25
119Luminos Inc.TechDC$625K$1.2MFeb 27
120Pickleball-NTX GP LLC rookieOpenTX$608K$1.2MFeb 27
121Opanga Networks, Inc.TechWA$605K$750KFeb 25
122Emerald Intelligence, Inc.TechMD$600K$1.5MFeb 25
123MedZero, Inc.TechOR$590K$750KFeb 28
124CloudWorks Solutions, Inc rookieTechNY$565KindefiniteFeb 28
125Barzo, Inc.TechFL$530KindefiniteFeb 27
126Blue Chip Capital Group Inc.FinanceCA$504KindefiniteFeb 28
127Black Horse Initiative, LLC rookieMain StreetOH$500KindefiniteFeb 27
128Faible Inc.TechNV$500K$1.5MFeb 25
129Qlutch, Inc. rookieTechVA$500K$500KFeb 24
130Revital Clinical Nutrition, Inc. rookieBio & HealthCA$500K$1.2MFeb 25
131Zero86 Brands, Inc. rookieOpenCA$500K$500KFeb 26
132Finsurtech Holdings LLCTechIntl$496K$496KFeb 28
133Melrose Golf Club LLC rookieOpenTN$455K$455KFeb 25
134Open Doors Partners, LLCOpenCA$450K$450KFeb 25
135H10CW-7, LLC rookieMain StreetVA$424K$600KFeb 27
136Gaingels Turing 2024 LLC rookieOpenVT$413K$413KFeb 27
137Know Your Collectibles Inc.TechFL$400K$400KFeb 28
138Phenom Resources Corp.OpenIntl$391K$2MFeb 24
139Hydreight Technologies Inc.OpenIntl$378K$867KFeb 28
140Metamagnetics Inc.TechMA$368K$368KFeb 24
141Titan Storage - Polk City 1, LLC rookieReal EstateIA$350K$1MFeb 26
142Uscape Apparel LLCOpenCA$350K$350KFeb 28
143Redbud Roots National, LLC rookieOpenMI$340K$900KFeb 28
144Ten Mile Surgery Center, LLCBio & HealthID$326K$1MFeb 26
145H2Sonics, L.L.C.EnergyCT$325K$2.5MFeb 25
146Earthview Corp rookieTechTX$300K$800KFeb 26
147GT Optics, Inc. rookieTechCA$300K$25MFeb 25
148Campfire Ranch, Inc.OpenCO$285K$2MFeb 28
149RGE 5343 Brewster LLC rookieReal EstateTX$251K$251KFeb 26
150Arete Westwood Holdings LLC rookieReal EstateSC$250K$14MFeb 28
151CalStixx LLC rookieMain StreetCA$250K$3.8MFeb 28
152Nurocor IncTechTX$250K$250KFeb 28
153RenaBio Therapeutics, Inc.Bio & HealthMA$250K$4.2MFeb 26
154Startup Coach AI Inc rookieOpenCA$250K$250KFeb 26
155Victor Retreat 1 LLC rookieReal EstateUT$250K$500KFeb 26
1565s MLP, LLCOpenNY$250K$2.5MFeb 28
157Rose City Holdings, LLCReal EstateOR$240K$240KFeb 28
158RP Capital Fund 1, LLC rookieReal EstateGA$220K$2.5MFeb 26
159Aquinas Senior Living, Inc.Real EstatePA$200K$2.5MFeb 24
160Hyrding LLC rookieOpenPA$160K$160KFeb 25
161Purity Resource, Inc.OpenAZ$150K$3MFeb 25
162Lion One Metals Ltd.OpenIntl$139KindefiniteFeb 24
163Santiago Copper Country, A California Limited PartnershipOpenCA$130K$1MFeb 25
164Nurocor IncTechTX$125K$125KFeb 28
165True Syrups & Garnishes Co.OpenDC$125K$500KFeb 28
166Mortgage Automation Technologies, Inc.FinanceNJ$120K$1MFeb 28
167Toggle3D.ai Inc. rookieOpenIntl$108K$108KFeb 28
168Southern Silver Exploration CorpOpenIntl$103K$183KFeb 28
169Fuse Staffing Services, LLC rookieOpenTX$100K$2MFeb 25
170Futi, Inc. rookieTechTX$100KindefiniteFeb 25
171Edgware Re. Ltd rookieFinanceIntl$80K$20MFeb 26
172Skyline Guard, Inc. rookieTechCA$80K$500KFeb 27
17320/20 GeneSystems, Inc.Bio & HealthMD$70K$3MFeb 26
174Lake Michigan Holdings LLCOpenIL$70K$500KFeb 25
175EyeCanKnow, Inc.OpenWY$68K$1MFeb 27
176Ulabs, Inc. rookieTechIL$65K$500KFeb 25
177Allied Resource Partners Sharp #5 & #6, LP rookieFinanceCO$62K$2.5MFeb 27
178Epist Inc. rookieTechTX$50K$250KFeb 24
179Reyna Silver Corp. / BCOpenIntl$39K$110KFeb 26
180Forge Resources Corp. rookieOpenIntl$38K$38KFeb 25
181Ggl Resources Corp.OpenIntl$28K$28KFeb 27
182Moovalot, LLC rookieOpenTX$25K$500KFeb 24
183Dink, LLC/MSOpenMS$21K$21KFeb 28
184Robotic Actuators Co rookieTechDE$6K$6KFeb 25
185CRIPTOAUGE CRYPTO GROUP Ltd rookieOpenCO$1KindefiniteFeb 28
186PSOF LO BVS CC Side Car REIT, LLC rookieReal EstateGA$1K$150KFeb 27
187PSOF LO Sunnyvale Side Car REIT, LLC rookieReal EstateGA$1K$150KFeb 27
188PSOF LWC Investor I REIT, LLC rookieReal EstateGA$1K$150KFeb 27
189PSOF Park City Holding, LLC rookieReal EstateGA$1K$150KFeb 27
190Pcf IV Q REIT, LLC rookieReal EstateGA$1K$500MFeb 27
191Pcf IV REIT, LLC rookieReal EstateGA$1K$500MFeb 27