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 19, 2025 (May 5–11)

231 companies reported $1.27B in new private raises on Form D in Week 19, 2025 (May 5–11). The biggest was Lumicell, Inc., $198M in the Bio & Health League from Massachusetts. Acacia Property Corp 2025 ($108M) and AssetWatch, Inc. ($74.3M) rounded out the top three. The Tech League led all leagues with $429M across 53 raises. Massachusetts topped the state standings with $223M. That is down 76% versus the week before ($5.25B). 145 of the 231 were first-time Form D filers, led by Acacia Property Corp 2025 ($108M). In the Fund League, 149 funds reported $13.75B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Lumicell, Inc.Bio & HealthMA$198MindefiniteMay 6
2Acacia Property Corp 2025 rookieReal EstateCA$108M$700MMay 5
3AssetWatch, Inc.TechOH$74.3M$75MMay 5
4CAST AI Group, Inc.TechFL$71.5M$71.5MMay 7
5Bon Vert Ventures LLC rookieOpenAR$44.4M$150MMay 7
6Kingsland Pointe Holdings, LLC rookieOpenNY$33.1MindefiniteMay 6
7Art.sy, Inc.TechNY$32.8M$32.8MMay 6
8Inductive Bio, Inc. rookieTechNY$25.1M$25.1MMay 7
9Project Orca, Inc.TechCT$25M$25MMay 7
10TriSalus Life Sciences, Inc.Bio & HealthCO$22M$22MMay 8
11Meadow Equity Partners LLC rookieMain StreetAZ$20MindefiniteMay 5
12Wingspan Networks, Inc.TechNY$20M$20MMay 9
13Coveside Apartments, LLC rookieReal EstateSC$16.3M$16.3MMay 9
14Palla Financial Inc. rookieTechFL$14.5M$14.5MMay 7
15Diode, Inc. rookieTechNY$14.5M$14.5MMay 6
16Bitewell, Inc.OpenCA$13.8M$13.8MMay 6
17Morgan PRL Boca Sponsor, LLC rookieReal EstateTX$13M$13MMay 6
18Suite Studios Inc.TechCO$12.5M$12.5MMay 6
19Retension Pharmaceuticals, Inc.Bio & HealthVA$12.3M$20MMay 6
20Lithios Inc.TechMA$12.1M$12.1MMay 9
21FPPS Holdings, LLCBio & HealthTX$12M$12MMay 6
22EdgeRunner AI, Inc.TechWA$12M$12MMay 9
23iBio, Inc.Bio & HealthCA$11.1M$11.1MMay 7
24Cooler Heads Care, Inc.Bio & HealthCA$10.6M$11.3MMay 7
25Bardy Technologies, Inc. rookieTechWA$10.5M$10.5MMay 8

By league

LeagueRaisedRaises
Tech$429M53
Bio & Health$323M31
Real Estate$261M47
Open$174M65
Main Street$45.1M18
Finance$38.1M11
Energy$3.6M6

By state

StateRaisedRaises
Massachusetts$223M6
California$212M35
New York$185M22
Texas$132M29
Florida$106M14
Ohio$78M7
Colorado$46M14
Arkansas$44.4M1
Connecticut$27.6M2
Washington$27.3M5
Arizona$22.5M5
Utah$19.7M4
Virginia$19M4
North Carolina$17.3M6
South Carolina$17.2M3

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Acacia Property Corp 2025 rookieReal EstateCA$108M$700MMay 5
2Bon Vert Ventures LLC rookieOpenAR$44.4M$150MMay 7
3Kingsland Pointe Holdings, LLC rookieOpenNY$33.1MindefiniteMay 6
4Inductive Bio, Inc. rookieTechNY$25.1M$25.1MMay 7
5Meadow Equity Partners LLC rookieMain StreetAZ$20MindefiniteMay 5
6Coveside Apartments, LLC rookieReal EstateSC$16.3M$16.3MMay 9
7Palla Financial Inc. rookieTechFL$14.5M$14.5MMay 7
8Diode, Inc. rookieTechNY$14.5M$14.5MMay 6
9Morgan PRL Boca Sponsor, LLC rookieReal EstateTX$13M$13MMay 6
10Bardy Technologies, Inc. rookieTechWA$10.5M$10.5MMay 8

Fund League

$13.75B across 149 funds.

#CompanyStateRaisedRaisingFiled
1Atlas Capital Resources V LP rookieCT$6.33B$6.33BMay 9
2TruArc Fund V, LP rookieNY$1.02BindefiniteMay 9
3Recognize Partners II, L.P. rookieNY$749MindefiniteMay 5
4A91 Partners GIFT Trust III rookieIntl$558MindefiniteMay 5
5Recognize Partners II-A, L.P. rookieNY$474MindefiniteMay 5
6West Street Growth Equity Partners II LP rookieNY$397MindefiniteMay 5
7Monroe SMBC MA Senior Loan Fund (Offshore) LP rookieIL$353MindefiniteMay 5
8Monroe SMBC MA Senior Loan Fund (Onshore) LP rookieIL$353MindefiniteMay 5
9Vintage 2025 Private Investments, LLC rookieNY$323MindefiniteMay 5
10Blue Owl Collaborative Managed Account (CMA), L.P. rookieNY$300M$300MMay 5
All 231 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Fundworks, LLCFinanceUT$10M$10MMay 7
27StudyFetch, Inc. rookieTechNY$10M$12MMay 9
28zizzl holding company, inc.OpenWI$10M$10MMay 9
29Ns Slo Camp LLC rookieMain StreetCA$9.9M$10MMay 8
30Domain Benbrook Investors, LP rookieReal EstateTX$9.9M$9.9MMay 8
31Sealy 300, L.P. rookieReal EstateTX$9.6M$9.6MMay 5
32Sealy 300, L.P. rookieReal EstateTX$9.6M$9.6MMay 5
33Sealy 300, L.P. rookieReal EstateTX$9.6M$9.6MMay 5
34Midwest Reo In-il LLC rookieReal EstateIL$9.5M$11MMay 7
35Atraverse Medical, Inc.Bio & HealthCA$8.6M$10MMay 7
36First Southern National Bancshares, Inc. rookieFinanceKY$8.3M$8.3MMay 8
37PATH EX, Inc.Bio & HealthTX$8.2M$8.2MMay 9
38CPAM Maritime North, LLC rookieReal EstateNC$8.2M$8.2MMay 6
39VidMob, Inc.TechNY$8M$15MMay 8
40AskElephant.ai Inc. rookieTechUT$7.7M$7.7MMay 9
411820 Aguila Azteca LLC rookieReal EstateTX$7.6M$7.6MMay 6
42Flowaste Inc.TechIN$7.5M$8.7MMay 5
43Beyond Workspace, LLC rookieReal EstateTX$7.3MindefiniteMay 5
44Etico Financial, Inc. rookieFinanceNY$7.3M$11.1MMay 9
45Domain Benbrook Apartments, LP rookieReal EstateTX$6.5M$6.5MMay 8
46Onos Health Inc. rookieTechCA$6.3M$6.3MMay 7
47EmptyVessel Inc.TechTX$6.3M$10.2MMay 8
48OncoResponse, IncBio & HealthTX$6MindefiniteMay 6
49Smart Barrel, Inc.TechFL$5.9M$6MMay 5
50Kingsland Pointe AP Holdings, LLC rookieOpenNY$5.7MindefiniteMay 6
51Communion Inc. rookieTechNY$5.6M$5.6MMay 9
52LumoPath, Inc. rookieTechCA$5.2M$5.3MMay 8
53Futures Music Group, LLC rookieMain StreetNY$5.2M$6MMay 9
54BKAI jade owls Preferred Equity LLC rookieFinanceTX$5M$5MMay 9
55Cero Therapeutics Holdings, Inc.Bio & HealthCA$5M$8MMay 6
56Global Worldwide, Inc. rookieOpenGA$5M$5MMay 8
57Espresa, Inc.TechCA$5M$5MMay 9
58Redica Systems, Inc.TechIL$5M$7MMay 9
59Advantia Holdings LLCBio & HealthVA$5M$20MMay 5
60Guardian Storage Grand Junction, LLC rookieOpenPA$4.9M$4.9MMay 8
61Trefoil Therapeutics, Inc.Bio & HealthCA$4.6M$5MMay 7
62Fresenius Medical Care Brick Home Therapy, LLC rookieBio & HealthMA$4.4M$4.4MMay 5
63Analog Financial, Inc. rookieFinanceNY$4.2M$4.2MMay 7
64Escalera 11911, LP rookieReal EstateTX$4M$4MMay 6
65Oncade, Inc. rookieTechCA$4M$5.1MMay 9
66Cutsforth Capital Holdings, Inc. rookieMain StreetWA$4M$4MMay 7
67Nevada King Gold Corp.OpenIntl$4M$4MMay 6
68BrightSpec, Inc.TechMA$3.9M$11.1MMay 7
69Belle Meade Investments LLC rookieReal EstateFL$3.8M$4MMay 5
70LeBlanc Dental Products, Inc.Bio & HealthTX$3.8M$3.8MMay 9
71Protiv Inc.TechNY$3.7M$4.3MMay 7
72Toughbuilt Industries, IncOpenCA$3.6M$3.6MMay 7
73Luster, Inc. rookieOpenIN$3.5M$4MMay 6
74Bainbridge Health, Inc.Bio & HealthPA$3.4M$5MMay 8
75Lionsmark Freedom Investors, LLC rookieReal EstateTX$3.1M$3.1MMay 7
76Tencarva Holdings I, Inc.OpenNC$3.1M$3.1MMay 9
77Sandgarden, Inc.TechNY$3M$3MMay 7
78Plumbrook North Margin JV LLC rookieReal EstateNY$3MindefiniteMay 6
79Palm Beach Padel Holdings LLC rookieOpenFL$3M$3MMay 6
80Pluto Biosciences, Inc.TechCO$3M$3MMay 5
81WaveGuide CorpMain StreetMA$3M$6.5MMay 8
82Parker Woods Holdings, LLC, an Ohio Ltd liability Co rookieReal EstateOH$2.9M$3MMay 7
83Whispering Creek Preserve LP rookieReal EstateTX$2.9M$2.9MMay 7
84Fresh Stop, LLC rookieReal EstateNC$2.8M$10MMay 6
85INFRA PLA II, a series of Wefunds LLC rookieOpenCA$2.8M$2.8MMay 6
86Nimble Energy, Inc. rookieOpenNC$2.8M$2.8MMay 8
87Cxrp LP, LLC rookieOpenCT$2.6M$3.1MMay 9
88Greenzie, Inc.TechGA$2.5M$2.5MMay 8
89Phil Administration Inc. rookieOpenCA$2.2M$2.5MMay 8
90United Multi-Basin #2, LP rookieEnergyTX$2.2M$2.2MMay 8
91BulkSource, Inc.TechCO$2.2MindefiniteMay 6
92Manta Digital, Inc. rookieOpenDE$2M$2MMay 6
93BKG Dominion Capital Blvd LLC rookieReal EstateMI$1.9M$1.9MMay 7
94JBG SMITH PropertiesReal EstateMD$1.8M$1.8MMay 5
95Grupago, Inc.OpenCA$1.8M$5MMay 9
96PG Ocean DST rookieReal EstateGA$1.6M$39.8MMay 8
97VitalCare Holdco, Inc. rookieBio & HealthUT$1.6M$2.5MMay 6
98Driftwood Park LLC rookieReal EstateWI$1.5M$1.5MMay 9
99Lhotse Medical, Inc.TechTX$1.5M$1.5MMay 6
100AmpliTech Group, Inc.TechNY$1.5M$4MMay 7
101Brookstone VC Simplifyance, LLC rookieOpenAZ$1.5M$1.5MMay 9
102Michigan Independent Media Group, LLC rookieOpenMI$1.5M$9.9MMay 7
103Sterling 150 LLC rookieReal EstateCA$1.5M$1.5MMay 9
104VMG Dominion Capital, LLC rookieOpenVA$1.5M$1.5MMay 7
105Cerebelly Inc.OpenCO$1.4M$3.1MMay 7
106Galapagos Domestic Healthcare Properties Fund, a series of Galapagos Domestic Investments LLC rookieReal EstateFL$1.4MindefiniteMay 9
107MACP Tuscaloosa, LLC rookieReal EstateFL$1.4M$1.8MMay 7
108Kingsland Pointe Blocker, LLC rookieOpenNY$1.4MindefiniteMay 6
109Stork Therapeutics, Inc. rookieBio & HealthCA$1.3M$2.7MMay 8
110INFRA PLA I, a series of Wefunds LLC rookieOpenCA$1.3M$1.5MMay 6
111Fresenius Medical Care Metro Huntsville, LLC rookieBio & HealthMA$1.3M$1.3MMay 5
112Lahontan Gold Corp.OpenIntl$1.3M$2.3MMay 7
113Lithium Africa Resources Corp. rookieOpenIntl$1.3M$3MMay 9
114Conexeu Sciences Inc. rookieBio & HealthNV$1.3M$2.4MMay 9
115PL Dynamo 2 LLC rookieReal EstateCO$1.3M$20MMay 9
116Essential Net Lease Portfolio 89 DST rookieReal EstateCA$1.2M$13.5MMay 5
117Emt Xiii LLC rookieReal EstateKY$1.1M$1.1MMay 8
118Quansight Futures, Inc.TechTX$1.1M$1.1MMay 5
119Better Spirits, LLC rookieOpenCA$1M$1MMay 5
120Clai Inc. rookieOpenDE$1M$1MMay 5
121Helios GDI Partners II, LLC rookieFinanceCO$1M$1MMay 5
122629 Mbc Group, LLC rookieOpenFL$960K$1.5MMay 6
123Annapolis Self Storage Partners, LLCReal EstateAZ$956K$3.5MMay 5
124261 Summa LLC rookieReal EstateFL$950K$1MMay 9
125Mpc Hi 2026 Lihtc Icf, LLC rookieReal EstateGA$930KindefiniteMay 9
126Mpc Hi 2027 Lihtc Icf, LLC rookieReal EstateGA$930KindefiniteMay 7
127OC Fusion Partners, LLC rookieOpenGA$928K$15MMay 7
128JVEC Airport Industrial LLC rookieReal EstateTX$925K$925KMay 5
129Hello Beverages, LLCOpenWI$880K$3.3MMay 7
130Paul RD LLC rookieReal EstateWI$817K$817KMay 5
131Rebuild Capital - Vero, LLC rookieTechNJ$810K$3MMay 8
132Craft Services, LLC rookieOpenFL$750K$1MMay 5
133Engaged Citizen Inc.TechCO$750K$750KMay 6
134Operative Capital Holdings LLC rookieFinanceWA$715K$715KMay 6
135Yukon Metals Corp. rookieOpenIntl$707K$1.2MMay 5
136Harvard Office Investors LLC rookieReal EstateNV$700K$700KMay 6
137Flora Growth Corp. rookieOpenFL$698K$698KMay 9
138AheadComputing, Inc. rookieTechOR$650K$22MMay 6
139Beacon Education Group, LLC rookieOpenIntl$650K$650KMay 5
140DW Bakken 72, LP rookieEnergyTX$650K$1.2MMay 5
141MuscleSound, Inc.Bio & HealthCO$650K$650KMay 9
1429M AI Group Inc. rookieMain StreetCO$575K$575KMay 6
143Ayres Associates Inc.OpenWI$573K$1MMay 7
144Incite Strategic Partners LLC rookieBio & HealthOR$560K$1.1MMay 8
145Landingplace Hospitality LLC rookieOpenSC$560K$560KMay 9
146Crown Point Real Estate Partners LLC rookieOpenCA$552K$552KMay 8
147Stamus Networks, Inc.TechIN$530K$530KMay 6
148ChainTrade LTD rookieMain StreetCO$500K$500KMay 8
149Desolas Holdings, Inc.OpenFL$500K$1.5MMay 9
150Hedonic Mindset Partners Corp rookieFinanceFL$500K$500KMay 5
151Impresa Corp. rookieTechCA$500K$500KMay 9
152Lake Effect Trading LLC rookieFinanceMI$500K$500KMay 6
153Pure Play Partners SPV II LLC rookieOpenMN$500K$500KMay 6
154StreamLayer Inc.TechIL$500K$1.5MMay 5
155Ucropit Corp rookieMain StreetDE$500K$2MMay 6
156Ascellus Health, Inc.Bio & HealthFL$454K$1.3MMay 9
157Code Pebble, Inc. rookieFinanceUT$450K$1MMay 5
158Blue Lagoon Resources Inc.OpenIntl$433K$736KMay 8
159Tencarva Coinvest, LLC rookieOpenNC$428K$428KMay 9
1605397 Calhoun Road LLC rookieReal EstateGA$410K$600KMay 8
161Emt Xv LLC rookieReal EstateKY$392K$392KMay 8
162ProSolve LLCOpenGA$380K$1MMay 5
163GoviEx Uranium Inc.OpenIntl$362K$872KMay 8
164Prime Pecan, LLC rookieMain StreetMS$350K$1MMay 5
165Rackla Metals Inc.OpenIntl$324K$1.2MMay 6
166Fairchild Gold Corp.EnergyIntl$323KindefiniteMay 9
167DasiSimulations LLCOpenOH$300K$5MMay 5
168DwellFi, Inc.TechCA$300KindefiniteMay 7
169Razor's Edge US Inc. rookieTechIntl$300K$1.5MMay 6
170Mindwave Medical, Inc. rookieTechTN$280K$5MMay 5
171Beverley Myrtle Fund, LLC rookieReal EstateSC$275K$760KMay 8
172Realty Royalties of America Blocker Fund, L.P. rookieReal EstateNY$275KindefiniteMay 9
1731355 West Saint Mary's Holdings LLC rookieReal EstateCA$250K$4.6MMay 6
174CC Urology Center Real Estate, LLC rookieReal EstateOH$250K$8MMay 8
175Fairfacts Winery Co. rookieMain StreetVA$250KindefiniteMay 5
176Momentus Inc. rookieMain StreetCA$248KindefiniteMay 9
177Tidal Petroleum IncEnergyTX$243K$22.8MMay 5
178BeneficientFinanceTX$233K$233KMay 6
179American Country Network, LLCOpenTN$201K$2.7MMay 5
180Geno.Me, Inc.TechWI$200K$650KMay 5
181Red Bay Coffee Company, Inc.Main StreetCA$200K$600KMay 7
182Andromeda I, a series of Capitalize Investments LLC rookieOpenCA$197K$197KMay 6
183Autonomi LLC rookieOpenCA$175K$500KMay 7
184Gaingels Mythical 2025 LLC rookieOpenVT$156K$156KMay 6
1853D Money LLCOpenMN$150K$50MMay 6
186925 Belmont RE LLC rookieReal EstateIL$150K$6.1MMay 8
187Emt Xvi LLCReal EstateKY$150K$150KMay 7
188Pi Squared Inc. / DETechIL$150K$10MMay 6
189Tiny Texas, LLC rookieOpenTX$150K$650KMay 6
190Gaingels Kargo LLC rookieOpenVT$142K$142KMay 9
191Pacifoco, Inc.EnergyNV$110K$15MMay 8
192Blue Line Holdings, Inc. rookieMain StreetNY$103K$103KMay 7
193Series 43-1, a series of StartEngine Private LLC rookieOpenCA$102K$640KMay 5
194Cell TX, Corp. rookieBio & HealthOH$100K$1MMay 8
195FreeUp Storage Bellingham Pacific Hwy, LLC rookieReal EstateCO$100K$15MMay 5
196MyndTec Inc.OpenIntl$100K$160KMay 6
197Niche Biopharmaceuticals LLCBio & HealthMN$100K$100KMay 9
198PROSPITALITY Inc rookieTechNY$100K$250KMay 8
199Homegrown Growth LLC - Series Night Swim Coffee 1 rookieOpenGA$80K$80KMay 6
200Talisker Resources Ltd.OpenIntl$80K$139KMay 8
201One Venture Studio, Inc. rookieOpenNY$75K$125KMay 6
202Roers Farmers Branch Apartments LLCReal EstateMN$75K$3.9MMay 5
203Fendx Technologies Inc.TechIntl$72K$72KMay 9
204Giga Metals CorpOpenIntl$63K$546KMay 9
205Indigov A Series Of Vuvp Fund LLC rookieOpenTX$61K$61KMay 9
206Green River URS Consumables, LLC rookieBio & HealthTX$60K$60KMay 8
207Heart Input Output, Inc.TechPA$60K$7MMay 5
208WRR-Madison #16, LP rookieEnergyTX$56K$5.6MMay 6
209Vincit California, Inc. rookieMain StreetCA$53K$53KMay 5
210PathForward Consulting, Inc. rookieMain StreetCA$50K$50KMay 9
211Bespoke Studios Inc. rookieTechCA$50KindefiniteMay 9
212DEB Technologies, LLC rookieBio & HealthOH$50K$500KMay 8
213Eva Medtec, IncBio & HealthMN$50K$618KMay 8
214FreeUp Storage Lake Stevens, LLC rookieReal EstateCO$50K$7MMay 6
215Highpass, Inc. rookieMain StreetND$50K$1.5MMay 7
216PHope, Inc. rookieBio & HealthOH$50K$1MMay 8
217True Syrups & Garnishes Co.OpenDC$50K$1MMay 5
218Anavatos Bio Inc. rookieBio & HealthWA$42KindefiniteMay 9
219Campfire Sauna & Social, LLC rookieOpenIL$40K$60KMay 6
220Hhai rookieTechAZ$35KindefiniteMay 5
221HhaiTechAZ$35KindefiniteMay 6
222KOOKHERO Inc. rookieTechNY$30K$350KMay 8
223Peerless Adversary Enterprises Inc. rookieMain StreetIL$25K$500KMay 7
224Intus Care Inc.Bio & HealthRI$24K$24KMay 5
225AIT Sensing Inc. rookieMain StreetCA$20K$20KMay 8
226Stimcell Energetics Inc.Bio & HealthIntl$15K$15KMay 9
227HyOrc Corp rookieTechTX$10K$10KMay 8
228Kaleos Group, Inc. rookieOpenNC$10K$250KMay 7
229OhmEV, LLC rookieTechCA$10K$10KMay 6
230Kenadyr Metals CorpOpenIntl$4K$4KMay 5
231Evolvex AI Trading Inc rookieOpenCO$1KindefiniteMay 9