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 18, 2025 (Apr 28 – May 4)

219 companies reported $5.25B in new private raises on Form D in Week 18, 2025 (Apr 28 – May 4). The biggest was Infinite Reality, Inc., $3.36B in the Tech League from Florida. Pathos AI, Inc. ($283M) and Apex Technology, Inc. ($158M) rounded out the top three. The Tech League led all leagues with $3.75B across 58 raises. Florida topped the state standings with $3.49B. That is up 476% versus the week before ($912M). 123 of the 219 were first-time Form D filers, led by Equus Industrial Partnership, L.P. ($137M). In the Fund League, 160 funds reported $3.38B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Infinite Reality, Inc.TechFL$3.36B$3.36BApr 28
2Pathos AI, Inc.Bio & HealthIL$283M$400MMay 1
3Apex Technology, Inc.OpenCA$158M$158MApr 30
4Equus Industrial Partnership, L.P. rookieReal EstatePA$137M$500MApr 30
5Fleet HoldCo, L.L.C. rookieFinanceNJ$134M$134MApr 30
6Upexi, Inc.OpenFL$100M$100MApr 28
7Sanity, Inc.TechCA$87.2M$87.2MMay 2
8Utilidata, Inc.EnergyRI$60.3M$150MMay 1
9Lexington Medical, Inc. rookieMain StreetMA$37.8M$37.8MApr 29
10Optimal Dynamics, Inc.TechNY$33.3M$43MApr 28
11National Data Center Partners LP rookieReal EstateDC$30MindefiniteApr 30
12Push Security, Inc.TechMA$30M$30MApr 29
13Alessa Therapeutics, Inc.Bio & HealthCA$25.4M$31.6MMay 1
14Kintsugi AI, Inc.TechCA$25M$25MApr 29
15Abrexa Pharmaceuticals, Inc.Bio & HealthCA$23M$23MApr 28
16SSA 799 Market Street Investors, LLC rookieReal EstateCA$22.4M$22.5MMay 1
17TapStitch, Inc. rookieOpenIntl$21.8M$22MMay 2
18mPower Technology, Inc.TechNM$21.1M$23.1MApr 28
19Zoe Financial, Inc.OpenNY$20M$20MApr 28
20Grouper Companies I, LLC rookieOpenUT$19.5M$19.5MApr 28
21BRIUS Technologies, Inc.Bio & HealthTX$19.5M$50.5MMay 2
22Jacobs Woods Coinvestors LP rookieReal EstatePA$15.9M$15.9MMay 2
23Continental Realty CityPlace Coinvest, L.P. rookieReal EstateMD$15.7M$15.7MApr 29
24PatientFi, Inc.TechCA$15M$15MApr 28
25Cart.com, Inc.TechTX$14.5M$30MApr 28

By league

LeagueRaisedRaises
Tech$3.75B58
Open$431M58
Bio & Health$392M20
Real Estate$327M41
Finance$201M24
Main Street$82.9M14
Energy$61.5M4

By state

StateRaisedRaises
Florida$3.49B12
California$421M40
Illinois$304M8
Pennsylvania$193M13
New Jersey$161M10
Texas$127M21
New York$89.8M18
Massachusetts$84M8
Rhode Island$60.3M1
International$58.4M14
Washington$37.8M7
Utah$36.2M4
Maryland$31.2M5
District of Columbia$30.8M2
Oregon$21.4M4

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Equus Industrial Partnership, L.P. rookieReal EstatePA$137M$500MApr 30
2Fleet HoldCo, L.L.C. rookieFinanceNJ$134M$134MApr 30
3Lexington Medical, Inc. rookieMain StreetMA$37.8M$37.8MApr 29
4National Data Center Partners LP rookieReal EstateDC$30MindefiniteApr 30
5SSA 799 Market Street Investors, LLC rookieReal EstateCA$22.4M$22.5MMay 1
6TapStitch, Inc. rookieOpenIntl$21.8M$22MMay 2
7Grouper Companies I, LLC rookieOpenUT$19.5M$19.5MApr 28
8Jacobs Woods Coinvestors LP rookieReal EstatePA$15.9M$15.9MMay 2
9Continental Realty CityPlace Coinvest, L.P. rookieReal EstateMD$15.7M$15.7MApr 29
10Unto Labs, Inc. rookieTechCA$14.4M$14.4MApr 29

Fund League

$3.38B across 160 funds.

#CompanyStateRaisedRaisingFiled
1InCommand Inc. rookieIL$700MindefiniteMay 2
2Multiples Plenty Private Equity GIFT Fund rookieIntl$430MindefiniteApr 28
3Nuveen Real Estate U.S. Strategic Retail Partners I LP rookieNY$333MindefiniteApr 30
4Uncork VIII, L.P. rookieCA$225M$225MMay 1
5Factorial Funds II Opportunity, L.P. rookieCA$150MindefiniteMay 2
6Kennedy Lewis Senior Loan Fund LP rookieNY$125MindefiniteMay 1
7HPS SIP VI Hoosier Co-Investment Fund, L.P. rookieNY$100MindefiniteApr 29
8Corazon Capital IV LP rookieIL$86.5M$100MApr 29
9Uncork Plus IV, L.P. rookieCA$76.1M$76.1MMay 1
10Green Cities Debt Fund I, LP rookieOR$75M$250MMay 2
All 219 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Unto Labs, Inc. rookieTechCA$14.4M$14.4MApr 29
27Cobbs Creek Restoration & Community Foundation rookieOpenPA$14.1M$20MApr 29
28CC Realty Opportunity Fund IV, LTD rookieMain StreetPA$13.5M$15MApr 28
29PerkCity, Inc.TechUT$13.5M$13.5MApr 30
30Brickell Bay Holding Company, LLC rookieMain StreetFL$13M$13MApr 30
31QbDVision, Inc.TechTX$13M$13MApr 30
32Celina 98 LLC rookieReal EstateTX$12.4M$14MApr 29
33Dalfen Monet, LP rookieOpenTX$12M$12MMay 1
34CodaMetrix Inc.Bio & HealthMA$11.6M$15MMay 2
35Westfield 2025 Venue Investors LLLP rookieReal EstateCO$11.4M$13.3MMay 1
36Knapsack CoTechOR$10.5M$10.5MMay 2
37Singletto Inc.Bio & HealthWA$10.5M$13.4MApr 28
38MPG Texas 10, LLC rookieReal EstateTX$10.3M$12MMay 2
39Bright Force Holding, Inc.FinanceTX$10M$10MMay 2
40Flamingos Technologies Inc.TechIntl$9.9M$10MApr 30
41Hilos IncOpenOR$9.7M$9.7MMay 1
42Wcfii Bp Ci 2025 LLC rookieFinanceFL$9.3M$13.5MMay 1
43Digicash Technology Venture Ltd.TechIntl$9.2M$20MMay 1
44Pixelligent Technologies LLCTechMD$9M$9MMay 1
45Santa Barbara Management Holdings, LLCOpenIL$8.8M$8.8MApr 29
46Alexander Capital Ventures LLCFinanceNJ$7.4M$7.4MApr 30
47Mechanus Labs Inc. rookieTechDE$7.4M$7.4MMay 2
48CCI-Cypress Crossing III, LP rookieReal EstateTX$7.3M$10MApr 29
49Sincerely Yours Inc. rookieOpenDE$7M$7MApr 30
50Sunset Capital Lenders VII, LLC rookieReal EstateWA$6.8M$6.8MApr 29
51Soutron Holdings LLC rookieOpenCA$6.7M$6.7MApr 28
52Happy Potato IncTechWA$6.6M$7.2MMay 1
53Divine Research Inc. rookieOpenCA$6.4M$6.6MMay 2
54Bondway Corp rookieTechNY$6.4M$6.5MMay 2
55B&Z Homes, Inc.TechTX$6.1M$7.1MApr 28
56Probe Gold Inc.OpenIntl$5.9M$5.9MApr 29
57CCI-Intellicenter, LP rookieReal EstateTX$5.7M$7.5MApr 29
58Schwans Industrial Properties LLC rookieReal EstateFL$5.7M$5.7MMay 2
59Aberdeen Group plcFinanceIntl$5.6M$5.6MApr 28
60Anaxiom CorpBio & HealthCA$5.4M$7.7MApr 29
61Spokane ALC LLC rookieReal EstateWA$5.4M$5.4MApr 29
62CIG HHA Series A-1 Preferred LLC rookieReal EstateVA$5.3M$5.3MApr 28
63Alexander Capital Ventures LLCFinanceNJ$5.2M$5.2MApr 28
64CueZen Inc.TechWA$5.2M$8MApr 30
65Argo Fund Solutions, Inc rookieFinanceNY$5.2M$10MApr 29
66Cerebro Capital, Inc.TechMD$5M$5MApr 30
67VFRE IV Co-Invest I, LLC rookieFinancePA$5M$5MMay 1
68Literati, Inc.Main StreetTX$4.9M$6MApr 30
69K-9 Holdings LLCOpenNJ$4.9M$6MMay 2
70MOLG Inc.Main StreetVA$4.5M$4.5MMay 2
71Shape Memory Medical Inc.Bio & HealthCA$4.4M$10MApr 30
72RevelAi Inc. rookieTechNC$4.3M$4.3MApr 28
73Redwood Comstock Township Gull Road MI P2 LLC rookieReal EstateOH$4.2M$4.2MMay 2
74Insignum AgTech, Inc.Main StreetIN$4.2M$5.2MApr 30
75PiLogic Inc. rookieTechCA$4.1M$4.1MApr 30
76Strala Group, Inc. rookieTechCA$4M$4MMay 2
77Thread Magic, Inc.TechNY$3.9M$5MApr 30
78Series 32-1, a series of StartEngine Private LLC rookieOpenCA$3.8M$4.8MApr 28
79Casalu, Inc.OpenNC$3.6M$4MApr 28
80CCI-Lakeside, LP rookieReal EstateTX$3.5M$3.5MApr 29
81Clearbox Decisions Inc.TechIL$3.4M$3.5MMay 2
82Alexander Capital Ventures LLCFinanceNJ$3.4M$3.4MApr 28
83Alexander Capital Ventures LLCFinanceNJ$3.4M$3.4MApr 30
84Domos Technology Inc rookieTechNY$3.2M$3.2MApr 28
85Hurricane Orchards, LLC rookieReal EstateUT$3.1M$3.5MApr 30
86Mahalo Software, Inc. rookieTechIL$3.1M$3.1MApr 28
87Kindbridge Corp rookieBio & HealthTN$3M$3MApr 29
88Runy, Inc. rookieTechNY$3M$3.2MApr 30
89Intuitive Lumicell LLCFinanceNY$3MindefiniteApr 30
90Boundless Devices, Inc. rookieTechCA$2.8M$5MApr 30
91ELM 74 South, LLC rookieReal EstateGA$2.7M$2.7MApr 29
92Watermelon Express, Inc.TechIL$2.5M$2.5MApr 30
93Arsflex LLC rookieReal EstateTX$2.5M$6.5MApr 30
94Mountain Highway Lenders, LLC rookieReal EstateWA$2.5M$2.5MMay 1
95All Star Baseball Holdings, LLC rookieOpenPA$2.3M$4MApr 30
96Scythe Mooresville LLC rookieReal EstateOH$2.3M$2.3MApr 29
97Glazier Software, Inc.TechCA$2M$2MMay 2
983LP Appleton Industrial MM LLC rookieReal EstateWI$1.9M$1.9MMay 1
99AMR Management Consultants Holdco, LLC rookieOpenNY$1.9M$1.9MMay 2
100Series B, a series of UM Pre-IPO Portfolio Fund III LLC rookieOpenNY$1.8MindefiniteApr 28
101Recovery Sports, LLCOpenCA$1.8M$20MApr 29
102Alexander Capital Ventures LLCFinanceNJ$1.7M$1.7MApr 30
103Eminent Gold Corp.OpenIntl$1.6M$1.6MApr 28
104Tempus Pittsburgh 1600, LLC rookieReal EstateAR$1.6M$25MApr 30
105Scientific Industries IncTechNY$1.6M$1.6MMay 1
106Boundless Creek, LLC rookieFinanceIntl$1.5M$1.5MApr 30
107SLX Roosevelt Holdings, LLC rookieReal EstateTX$1.5M$1.5MApr 29
108Kindbridge Corp rookieBio & HealthTN$1.5M$1.5MApr 29
109New Level Work Inc.OpenCA$1.5M$2.9MApr 30
110Dasseti, Inc.TechNY$1.4M$3MApr 30
111ClimaCore Aggregator LLC rookieReal EstateNY$1.4M$1.4MApr 29
112Florey Biosciences, Inc. rookieBio & HealthMA$1.4M$4.4MApr 29
113Measure Studio, Inc. rookieTechPA$1.3M$2MMay 2
114Provisio Medical, Inc.TechCA$1.3M$3MMay 1
115Regis Learning Technology, Inc. rookieTechCO$1.2M$4MApr 29
116Village Partners Group, LLC rookieOpenTX$1.2M$1.2MApr 28
117HDC 4147 W 64th Avenue, LLLP rookieReal EstateCO$1.2M$2.9MMay 1
118Rival Holdings LLC / PAMain StreetPA$1.2M$3MApr 30
119Alexander Capital Ventures LLCFinanceNJ$1.1M$1.1MApr 30
120AGS Automotive Solutions Holdings LLCFinancePA$1M$1MApr 28
121Decoy Therapeutics, Inc. rookieBio & HealthMA$1M$1.2MApr 28
122Valora H.A. LLC rookieReal EstateMN$1M$4.5MApr 30
123J2 Health, Inc. rookieOpenNY$1M$1MApr 28
124Leerink Aggregator LPFinanceMA$1M$1MMay 2
125NALA Membranes, Inc.Main StreetNC$1M$1MApr 28
126Rheaply, Inc.TechIL$1M$3MMay 1
127Txtur LLCMain StreetVA$1M$3MApr 28
128SIGMAS Inc. rookieOpenCA$1000K$1000KMay 1
129Criterion Laburnum Park, LLC rookieReal EstateTX$955K$2.8MApr 30
130Nico Seguros, Inc rookieOpenFL$950K$950KMay 1
131Sqq Inc.TechIN$950K$1MApr 29
132Eco Bright Future, Inc. rookieOpenIntl$935KindefiniteMay 1
133S. Bethlehem Portfolio 1, LLC rookieReal EstatePA$935K$935KApr 29
1342300 Central Ave, LLC rookieReal EstateIL$925K$950KMay 2
135Bonita Beach Investor LLC rookieReal EstateMN$900K$13.5MApr 29
136Moxi Inc. rookieOpenAL$865KindefiniteMay 2
137GS Finance Corp.FinanceNY$861K$861KApr 28
138GS Finance Corp.FinanceNY$861K$861KApr 28
139Thurlow Veterinary Services Inc.OpenIL$850KindefiniteApr 29
140Nascent Surgical Holdings, LLC rookieOpenMN$825K$1MApr 30
141OA Fund 1 LLC rookieReal EstateWA$790K$790KApr 29
142Lmt, LLCTechOR$781K$1.2MMay 2
143Gudea, Inc.OpenMD$775K$1.5MApr 30
144Preferred Health Imaging, LLC rookieBio & HealthTX$775K$2MApr 28
145Kvc VI LLC rookieFinancePA$763K$763KApr 30
146Astek Diagnostics, Inc.Bio & HealthMD$750K$1.5MApr 28
147Atalanta Technologies Inc. rookieTechDC$750K$2MApr 28
148GenseeAI Inc. rookieTechCA$750K$750KApr 29
149Saluna, Inc.Main StreetMO$750K$2MApr 28
150Series 32-2, a series of StartEngine Private LLC rookieOpenCA$740K$2.9MApr 28
151Adjacent Participation LLC rookieOpenVA$740K$740KMay 2
152Cadense, Inc.OpenCA$706K$706KApr 29
153Kineolabs, Inc.TechMA$700K$1.2MMay 2
154TDS Builders LLC rookieReal EstateGA$680K$1.8MApr 29
155BB Investor Group 4 LLC rookieOpenNY$675K$7MMay 1
156Storygize Inc.OpenCA$650K$1MApr 30
157Series 44-1, a series of StartEngine Private LLC rookieOpenCA$617K$1.7MApr 30
158Active Iron Energy, LLC rookieEnergyTX$600K$30MApr 30
159Gagnon-Kennedy Vineyards, LLCOpenMO$600K$1MApr 30
160Sanu Gold Corp.OpenIntl$594K$594KApr 28
161Ares Strategic Mining Inc.OpenIntl$582K$582KMay 1
162Genesis New Ventures, LLCBio & HealthMT$550K$6.5MApr 29
163Impact Eleven LLC rookieOpenMI$550K$3.6MApr 28
164Metabank Inc rookieMain StreetCO$500K$500KApr 28
165SmartBiz Bancshares, Inc.FinanceCA$490K$2.7MMay 2
166Peninsula Capital Corp.OpenIntl$479K$479KApr 29
167LV Portland LLC rookieOpenAZ$450K$1.5MMay 1
168Scg Rwc, LLC rookieReal EstateCA$440K$440KMay 1
169Ahc Investment SPV 2025, LLC rookieTechOR$404K$2.1MApr 29
170Guanlan Holding LLC rookieMain StreetMA$400K$2MApr 29
171Khona Scientific Holdings, Inc.TechCO$340KindefiniteApr 28
172Supercritical Technologies Corp. rookieEnergyNY$335K$335KApr 28
173Mesh Digital Services Inc.TechDE$325K$325KMay 2
174Petchary Ventures 22 LLC rookieReal EstateFL$320KindefiniteMay 1
175AngeLink, Inc. rookieTechFL$300K$1.2MMay 1
176Winslow Plaza SC Realty Fund LLC rookieReal EstateNJ$300K$5.5MMay 1
177BC Capital LLC rookieOpenNV$275K$5.5MApr 30
178Foxo Technologies Inc.OpenFL$275K$275KApr 30
179Gaingels ChalkAi 2025 LLC rookieOpenVT$274K$274KApr 29
180Sungate Ranch LLC rookieReal EstateCA$250K$500KMay 1
181Trethera CorpBio & HealthCA$250K$5MMay 2
182Electra, a Series of Massive Scale Ventures II, LLC rookieFinanceDE$241K$242KMay 1
183Mocean Energy LtdEnergyIntl$240K$240KApr 30
184Collektion Investments II LLC rookieOpenFL$236K$1.4MMay 1
185Brush Creek Assisted Living RE LLC rookieOpenCA$205K$1.8MMay 2
186StreamClash rookieTechWY$175K$175KMay 2
187Bluberry AI Inc.TechFL$150K$300KMay 1
188OneBuzz, Inc. rookieTechIA$150K$150KApr 29
189Backswing Investment Fund rookieFinanceUT$135K$700KApr 29
190Ground Control Software, Inc. rookieOpenCA$125K$125KMay 2
191Roth Capital LLC rookieReal EstateOH$125K$4MApr 30
192Financial Gravity Companies, Inc.FinanceTX$120K$120KMay 1
193Malum, Inc.TechIA$115K$5MApr 28
194Veyran Inc. rookieTechFL$115KindefiniteMay 2
195Vivamed, Inc. rookieBio & HealthCA$110K$500KMay 1
196Mivax Therapeutics, Inc. rookieBio & HealthCA$108KindefiniteMay 1
197Macro Oceans Inc.Main StreetCA$100K$100KMay 1
198USLiberty Corp rookieReal EstateWY$100K$100KMay 1
199ZIP Capital LLC rookieReal EstatePA$100K$5MApr 29
200Gaingels Pearl Health LLC rookieOpenVT$94K$94KApr 28
201Kvc V LLC rookieFinancePA$91K$91KApr 30
202Gaingels Novig LLC rookieOpenVT$78K$78KApr 29
203Lithos Group Ltd.OpenIntl$77K$77KMay 2
204NNG MEZZ Debt Fund I, LLC rookieReal EstateNJ$75K$25MApr 29
205Gaingels Rebelstork LLC rookieOpenVT$73K$73KApr 29
206Car Capital Technologies, Inc.TechTX$73K$23.5MApr 29
207Gaingels Allstora LLC rookieOpenVT$50K$50KMay 1
208Drive Lab Inc. rookieMain StreetCA$50KindefiniteApr 30
209Limbic Labs Inc. rookieTechDE$50K$250KMay 1
210Phenom Resources Corp.OpenIntl$39K$39KMay 2
211Magic Sheet Music, Inc.TechOH$25K$200KApr 30
212iDox.ai Corp.TechCA$19K$19KApr 29
213Cross Bible, Inc.TechCA$17K$67KMay 2
214Salve Therapeutics, Inc. rookieBio & HealthCA$12K$688KMay 2
215Propolis, Inc.TechCA$5K$100KApr 29
216Fmcf LLC rookieOpenDE$2K$2MApr 30
217Trustcsx Ltd rookieOpenCO$1KindefiniteMay 1
218Viva City Galactic, Inc rookieOpenDE$263$1KApr 29
219Infinite Youth, Inc. rookieBio & HealthTX$100$100May 2