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 16, 2025 (Apr 14–20)

170 companies reported $2.30B in new private raises on Form D in Week 16, 2025 (Apr 14–20). The biggest was Rarestep, Inc., $454M in the Tech League from Alabama. DBV Technologies S.A. ($307M) and Hwood Group, LLC ($124M) rounded out the top three. The Tech League led all leagues with $1.05B across 47 raises. California topped the state standings with $523M. That is up 16% versus the week before ($1.97B). 81 of the 170 were first-time Form D filers, led by DBV Technologies S.A. ($307M). In the Fund League, 216 funds reported $7.56B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Rarestep, Inc.TechAL$454M$454MApr 14
2DBV Technologies S.A. rookieBio & HealthIntl$307M$307MApr 17
3Hwood Group, LLCMain StreetCA$124M$124MApr 14
4Positive Image Consulting Services Inc rookieTechWY$110M$110MApr 18
5Techtonic Media Entertainment Group Inc rookieTechCA$110M$110MApr 18
6Science CorpTechCA$104M$110MApr 14
7Carlyle Tactical Private Credit FundFinanceNY$100M$100MApr 17
8AIP Fund II LP rookieReal EstateTX$82.2MindefiniteApr 16
9Fold, Inc.TechAZ$39.9M$49.4MApr 15
10Hwood Group, LLCMain StreetCA$36.3M$36.3MApr 14
11Opportunity Restaurant Group LLCMain StreetGA$36M$36MApr 14
12Bathhouse Holdings Inc. rookieOpenNY$34.4M$35MApr 16
13FCV Main Street Health Warehouse, LLC rookieFinanceTN$32.1M$32.1MApr 18
14High View Energy Services LLC rookieEnergyTX$30.4M$30.4MApr 15
15MEP Evergreen Fund, L.P. rookieFinanceNY$29.6MindefiniteApr 15
16Anchor 3724, LLCOpenGA$28.4M$28.4MApr 16
17Graybul Ledgerock I LP rookieReal EstateSC$26.3M$26.3MApr 17
18Labs Companies, Inc. rookieTechCA$22.5M$22.5MApr 18
19Sydnexis, Inc.OpenCA$20M$20MApr 15
20BusRight, Inc.TechNY$20M$20MApr 15
21Tapcheck Inc.TechTX$20M$20MApr 17
22Uniqus Consultech Inc.OpenCA$18.9M$20MApr 17
23Delphos Securities SARL rookieFinanceIntl$18.9M$108MApr 14
24Haus Analytics Inc.TechCA$18.3M$20MApr 18
25Capsule.Video, Inc. rookieTechFL$18.2M$18.6MApr 16

By league

LeagueRaisedRaises
Tech$1.05B47
Bio & Health$363M19
Open$229M56
Finance$224M14
Main Street$218M12
Real Estate$173M18
Energy$39.1M4

By state

StateRaisedRaises
California$523M26
Alabama$454M1
International$354M14
New York$313M21
Texas$171M16
Wyoming$110M2
Georgia$72.4M3
Tennessee$47.4M5
Arizona$41.8M4
Florida$38.5M8
South Carolina$26.3M1
Illinois$17.8M6
Colorado$17.1M3
Pennsylvania$14.2M5
Arkansas$12.2M2

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1DBV Technologies S.A. rookieBio & HealthIntl$307M$307MApr 17
2Positive Image Consulting Services Inc rookieTechWY$110M$110MApr 18
3Techtonic Media Entertainment Group Inc rookieTechCA$110M$110MApr 18
4AIP Fund II LP rookieReal EstateTX$82.2MindefiniteApr 16
5Bathhouse Holdings Inc. rookieOpenNY$34.4M$35MApr 16
6FCV Main Street Health Warehouse, LLC rookieFinanceTN$32.1M$32.1MApr 18
7High View Energy Services LLC rookieEnergyTX$30.4M$30.4MApr 15
8MEP Evergreen Fund, L.P. rookieFinanceNY$29.6MindefiniteApr 15
9Graybul Ledgerock I LP rookieReal EstateSC$26.3M$26.3MApr 17
10Labs Companies, Inc. rookieTechCA$22.5M$22.5MApr 18

Fund League

$7.56B across 216 funds.

#CompanyStateRaisedRaisingFiled
1SLIF VI-L Holdings D, L.P. rookieNY$865MindefiniteApr 15
2SLIF VI-L Holdings D, SCSp rookieNY$865MindefiniteApr 15
3SLF VI-L Holdings D, SCSp rookieNY$577MindefiniteApr 15
4Real Estate Credit Solutions Fund LP rookieCA$519M$519MApr 17
5Ares Australis A LP rookieCA$500M$500MApr 15
6SBOS Fund I LP rookieNY$448MindefiniteApr 14
7Ares Borealis A LP rookieCA$440M$440MApr 15
8CC&L Q ACWI Equity Extension Cayman Fund Ltd. rookieIntl$303MindefiniteApr 15
9Blixt Fund II LP rookieIntl$276MindefiniteApr 15
10Schonfeld Systematic Alpha Offshore Fund Ltd. rookieIntl$201MindefiniteApr 14
All 170 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Sutra Fitness, Inc. rookieTechNY$18.2M$18.3MApr 16
27LM Oates Crossing LLC rookieReal EstateNY$16.1M$16.1MApr 18
28Alinea Invest, Inc. rookieOpenNY$16.1M$16.1MApr 16
29Volteras Technologies, Inc. rookieTechIntl$14.6M$14.6MApr 14
30ATS Holdings, LLCFinanceNY$13.6M$13.6MApr 16
31Homevest GP Seed Fund II, L.P. rookieReal EstateNY$13.5M$15MApr 15
32Strike Acceptance Holdings, Inc.OpenCA$13.3M$28.3MApr 15
33Titan Content, Inc. rookieOpenCA$12.9M$20MApr 14
34KeyCare, Inc.Bio & HealthIL$12.7M$21.8MApr 17
35TAU Systems Inc. rookieTechTX$12.5M$20.5MApr 14
36SCP Quantum Holdco LLC rookieOpenCO$11.8M$11.8MApr 16
37CDA Hotel II LLC rookieReal EstateMT$11.6M$14.7MApr 18
38Tam-C Solutions, LLC rookieOpenPA$10.7M$12.7MApr 14
39NE-LA Retail Group LLC rookieOpenAR$10M$12MApr 14
40Scm SPV Xxi, LLC rookieOpenFL$9.9M$9.9MApr 14
411Fort Inc. rookieTechNY$9.9M$9.9MApr 17
42BeneficientFinanceTX$9.7M$9.7MApr 18
43RunReveal, Inc.OpenTX$9.5M$9.5MApr 18
44Comprehensive, Inc. rookieTechCA$9.1M$9.2MApr 18
45EliotNest, Inc. rookieTechNY$9M$9.5MApr 16
46Faraday Future Intelligent Electric Inc.Main StreetCA$8.9M$41MApr 16
47Liminal Strategy, Inc.Main StreetNY$8.5M$8.5MApr 16
48SOMAVAC Medical Solutions, Inc.Bio & HealthTN$8.4M$9.6MApr 18
49Ceretax, Inc.TechGA$7.9M$8MApr 17
50Anduril Holdings SPV, LP rookieFinanceNY$6.5MindefiniteApr 17
51reAlpha Tech Corp.TechOH$6.3M$6.3MApr 14
52System Initiative, Inc.TechCA$6.2M$6.2MApr 17
53Cynaptec Pharmaceuticals, Inc. rookieBio & HealthFL$6M$26MApr 17
54Cohesity Holdings SPV, LP rookieFinanceNY$5.4MindefiniteApr 17
55Voom Medical Devices, Inc.Bio & HealthNY$5M$11MApr 15
56Whitestown 550 Padgett LLC rookieReal EstateIN$5M$6MApr 14
57Talphera, Inc.Bio & HealthCA$4.9M$15MApr 17
58Respondology Holdings, Inc.TechCO$4.7M$5MApr 16
59Freegold Ventures LtdOpenIntl$4.5M$8MApr 16
60Langan Engineering, Environmental, Surveying, Landscape Architecture & Geology, D.P.C.EnergyNJ$4.5M$4.5MApr 16
61Zero Point Five Therapeutics, Inc.Bio & HealthMD$4.3M$5.3MApr 17
62Tensor9 Inc. rookieTechWA$4M$4MApr 16
63Crytica Security, Inc.TechNV$3.5M$10MApr 16
64622 Conti Street Investor LLC rookieReal EstateNY$3.4M$3.6MApr 17
65Belay Inc.TechCA$3.2M$4.2MApr 15
66AngelEye Health, Inc.Bio & HealthTN$3M$9MApr 14
67Centerlane Arboretum LLC rookieReal EstateNC$3M$3MApr 16
68Maritime Resources Corp.OpenIntl$2.9M$5.4MApr 14
69Bank Michigan Financial CorpFinanceMI$2.7M$2.7MApr 17
70Apomaya, Inc.TechCA$2.5M$3.5MApr 14
71AquiSense Inc. rookieTechKY$2.5M$3.2MApr 14
72Motorsport Games Inc.TechFL$2.5M$2.5MApr 18
73Biomark Diagnostics Inc. rookieBio & HealthIntl$2.5M$2.5MApr 14
74Langan Management Aggregator LLCEnergyNJ$2.5M$2.5MApr 16
75MedVet Associates, LLCOpenOH$2.4M$2.4MApr 14
76Acretrader 256, LLC rookieReal EstateAR$2.2M$2.2MApr 18
77Trio Labs, Inc.TechNC$2.2M$3.2MApr 17
78Aptevo Therapeutics Inc. rookieBio & HealthWA$2.1M$2.1MApr 18
79MN River Holdings, LLC rookieMain StreetMN$2.1M$2.5MApr 15
80Rebuilt Holdings, Inc.Real EstateTN$2M$7MApr 15
81Water Harvesting Inc.TechCA$2M$4MApr 17
82Justice Bid Inc. rookieTechIL$2M$3MApr 15
83NLS Pharmaceutics Ltd.Bio & HealthIntl$2M$2MApr 14
84Patient Discovery Solutions, Inc.TechMA$2MindefiniteApr 18
85Witman Properties, Inc. rookieReal EstateMA$1.9M$1.9MApr 14
86HData, Inc.OpenIL$1.8M$3MApr 16
87Sterling Holding Co Inc. rookieOpenTN$1.8M$4MApr 17
88Noteworthy AI IncTechCT$1.7M$3MApr 17
89Generated Health, Inc.OpenPA$1.7M$3.5MApr 14
90Alliance Energy Fund 2025-A, LP rookieEnergyKS$1.6M$100MApr 17
91Action Streamer, Inc.TechOH$1.6M$3MApr 17
92ECRC Group M-5 LLC rookieBio & HealthNY$1.6M$8MApr 15
93Fry's Path Lima 2025 Note, LLC rookieFinanceVA$1.5M$1.5MApr 14
94Founders First Capital Partners, Inc.FinanceCA$1.5M$5MApr 17
95Granite Medspa Holdings, LLCFinanceCT$1.5M$1.9MApr 18
96Pleak 54 Holdings LLCReal EstateTX$1.4M$2MApr 15
97Gaingels Hubble Network LLC rookieOpenVT$1.4M$1.4MApr 18
985613 Coventry Park Drive Property LLCReal EstateTX$1.3M$8MApr 15
99Westward Gold Inc.OpenIntl$1.2M$3.1MApr 17
100Gardenuity, Inc. rookieOpenTX$1.2M$2.6MApr 15
101Ashland Greene Value Add Fund I LLCReal EstateTX$1.1M$5MApr 15
102Mare Island Dry Dock Investment LLCOpenCA$1.1M$3.2MApr 18
103Ensysce Biosciences, Inc.Bio & HealthCA$1.1M$1.1MApr 14
104Omnia Fishing, Inc.OpenMN$1.1M$1.2MApr 14
105Magic Cactus Co Inc.OpenAZ$1M$1.5MApr 14
106GD Culture Group LtdOpenNY$1M$1MApr 17
107Hill Road Investments LLC rookieReal EstateID$1M$1.2MApr 16
108Just Baked Kiosk LLC rookieOpenIL$1M$20MApr 16
109OpenTeams, Inc.TechTX$1M$1MApr 14
110Pest Force, LLC rookieOpenUT$1M$1.5MApr 16
111Siegfried Resources LLCOpenDE$908KindefiniteApr 14
112Grain Ecosystem, Inc.TechMA$880K$1.5MApr 14
113Unifying Spirits, LLCOpenPA$793K$1MApr 14
114Series 37-1, a series of StartEngine Private LLC rookieOpenCA$773K$1.7MApr 17
115Evofem Biosciences, Inc.Bio & HealthCA$750K$1.5MApr 15
116Apruvd, LLCOpenAZ$648K$750KApr 16
117K4Connect Inc.TechNC$625K$715KApr 17
118Mpc Holdings, LLCMain StreetPA$600K$600KApr 15
119Proof III Fhi LLC rookieOpenVA$597K$597KApr 15
120Mead & Hunt Companies, Inc.OpenWI$576K$576KApr 17
121Golden Chain Capital rookieMain StreetCO$575K$575KApr 16
122Tye St Business Park LLC rookieReal EstateWA$575K$575KApr 16
123Faster Outcomes, Inc.TechMA$550K$3MApr 18
124FreshTech Solutions, Inc. rookieTechWA$500K$500KApr 16
125Pulmotherapeutics Inc rookieBio & HealthTX$500KindefiniteApr 14
126Standard Measure LLCOpenFL$500K$500KApr 16
127TriAgenics, IncBio & HealthOR$500K$3MApr 17
128Hop Flyt, Inc.OpenMD$497K$20MApr 16
129Midwest BankCentre, Inc.FinanceMO$481K$10MApr 16
130GS Finance Corp.FinanceNY$473K$473KApr 16
131Auctari Capital, LLC rookieOpenFL$450K$450KApr 17
132North Star Remediation Investors, LLC rookieMain StreetMN$450K$850KApr 14
133Solar Transport Systems Inc. rookieTechFL$450K$1MApr 17
1343RC/MPC, LLCMain StreetPA$428K$428KApr 15
135Thr Technologies Inc. rookieTechFL$388K$15MApr 15
136Bodhi Tree Biotechnology Inc rookieOpenCA$331K$331KApr 15
137Revitalize Coffee Co LLC rookieOpenNY$300K$500KApr 18
138Salem Media Group, Inc. /de/ rookieOpenCA$265K$265KApr 15
139San Gabriel Self Storage Partners, LLCReal EstateAZ$250K$5MApr 14
140Ananya Health, Inc. rookieBio & HealthCA$200KindefiniteApr 16
141Listener Brands Inc.Main StreetIL$200K$200KApr 17
142Real Time App Inc. rookieTechTX$200K$2MApr 17
143Savii Co.TechNE$200K$1MApr 16
144Abside Networks, Inc.TechMA$176K$176KApr 16
145Crew Dog Co. rookieOpenCT$167KindefiniteApr 18
146Anodos Labs Inc. rookieTechWY$158K$3MApr 14
147Abacus Mining & Exploration CorpOpenIntl$155K$543KApr 15
148Robotic Actuators CoTechDE$146KindefiniteApr 14
149Pelvital USA, Inc.Bio & HealthMN$137K$3MApr 18
150Greybrook Yonge & Eglinton Trust rookieOpenIntl$111K$111KApr 17
151Gaingels BQP LLC rookieOpenVT$109K$109KApr 18
152Equal Edge U Inc. rookieTechOH$105K$105KApr 15
153Comprehensive Healthcare Systems Inc. (canada)TechNJ$104K$104KApr 17
154Viva Gold Corp.OpenIntl$100K$165KApr 18
155Domatic, Inc.OpenCA$100K$500KApr 14
156Tabor United, LLC rookieOpenDE$100K$2MApr 17
157US Home Equity Fund I, L.P. rookieReal EstateTX$100K$100MApr 15
158Greybrook Yonge & Eglinton Trust rookieOpenIntl$80K$80KApr 17
159Squidhaus, Inc. rookieMain StreetTX$75K$1.5MApr 17
160Gaingels Alinea LLC rookieOpenVT$61K$61KApr 18
161Silver North Resources Ltd.OpenIntl$53K$133KApr 16
162Cancer Check SPV LLC rookieBio & HealthTX$50K$10MApr 16
163CrunchAtlas, Inc.TechNH$50K$150KApr 18
164Joint Effort Administrative Services Organization, LLCOpenNY$47KindefiniteApr 16
165Stargaze Entertainment Group, Inc.OpenIL$45K$250KApr 15
166Gaingels Clockout LLC rookieOpenVT$44K$44KApr 14
167Greybrook Yonge & Eglinton Trust rookieOpenIntl$40K$40KApr 17
168Fable Brewing, LLC rookieOpenMA$35K$300KApr 15
169Gaingels Kernal Bio 2025 LLC rookieOpenVT$21K$21KApr 15
170Silicon Connectr, Inc. rookieOpenVA$20K$1MApr 16