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 21, 2025 (May 19–25)

241 companies reported $5.08B in new private raises on Form D in Week 21, 2025 (May 19–25). The biggest was World View Enterprises Inc., $2.57B in the Tech League from Arizona. Howard Hughes Holdings Inc. ($900M) and Sierra International Network Inc ($104M) rounded out the top three. The Tech League led all leagues with $3.34B across 61 raises. Arizona topped the state standings with $2.58B. That is up 102% versus the week before ($2.52B). 152 of the 241 were first-time Form D filers, led by Howard Hughes Holdings Inc. ($900M). In the Fund League, 230 funds reported $3.08B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1World View Enterprises Inc.TechAZ$2.57B$2.58BMay 22
2Howard Hughes Holdings Inc. rookieReal EstateTX$900M$900MMay 21
3Sierra International Network IncTechCA$104M$104MMay 19
4Cohere Health Inc.TechMA$90M$90MMay 22
5Vumedi, Inc.TechCA$80M$80MMay 22
6Horizon 3 AI, Inc.TechCA$73M$100MMay 22
7Stord, Inc.TechGA$67.2M$67.2MMay 22
8CoRegen, Inc.Bio & HealthCO$62.6M$62.6MMay 22
9Twin Health, Inc.TechCA$48.8M$55MMay 23
10BKV dCarbon Project, LLC rookieEnergyDE$48MindefiniteMay 23
11Ethic Inc.FinanceNY$44M$44MMay 22
12Trimlight Holdco LLC rookieOpenNY$43.6MindefiniteMay 20
13Unify AI Business CorpTechCA$40.3M$40.3MMay 19
14Encompass Technologies, Inc.Bio & HealthNV$40.3M$60.3MMay 19
15Alpheus Medical, Inc.OpenMN$34.5M$60.5MMay 19
16Farmer's Business Network, Inc.TechCA$29M$60MMay 19
17Reveal Technology, Inc. rookieTechMT$28.5M$30MMay 21
18ReAlta Life Sciences, Inc.Bio & HealthVA$25M$25MMay 21
19Androscoggin Bancorp, Inc. rookieFinanceME$25M$25MMay 22
20Coast Energy Holdings, LLC rookieEnergyCA$20.6MindefiniteMay 22
21European Technology Group Ltd rookieMain StreetIntl$19.6M$19.6MMay 21
22Fourier Earth, Inc. rookieTechCA$18.6M$18.6MMay 22
23Blume Road, LLC rookieReal EstateNY$17.2M$17.2MMay 21
24LiveOne, Inc.TechCA$16.8M$27.8MMay 23
25Village Platforms, Inc. rookieTechCA$16.4M$16.5MMay 20

By league

LeagueRaisedRaises
Tech$3.34B61
Real Estate$1.06B49
Open$270M69
Bio & Health$178M23
Finance$104M15
Energy$95.2M9
Main Street$35.6M15

By state

StateRaisedRaises
Arizona$2.58B6
Texas$985M30
California$523M38
New York$171M23
Massachusetts$124M10
Georgia$75.6M4
Colorado$75.5M10
Delaware$64.3M5
International$56.9M16
Nevada$40.3M1
Minnesota$39.4M2
Virginia$29.4M4
Ohio$29.2M5
Montana$28.5M1
Maine$26.1M2

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Howard Hughes Holdings Inc. rookieReal EstateTX$900M$900MMay 21
2BKV dCarbon Project, LLC rookieEnergyDE$48MindefiniteMay 23
3Trimlight Holdco LLC rookieOpenNY$43.6MindefiniteMay 20
4Reveal Technology, Inc. rookieTechMT$28.5M$30MMay 21
5Androscoggin Bancorp, Inc. rookieFinanceME$25M$25MMay 22
6Coast Energy Holdings, LLC rookieEnergyCA$20.6MindefiniteMay 22
7European Technology Group Ltd rookieMain StreetIntl$19.6M$19.6MMay 21
8Fourier Earth, Inc. rookieTechCA$18.6M$18.6MMay 22
9Blume Road, LLC rookieReal EstateNY$17.2M$17.2MMay 21
10Village Platforms, Inc. rookieTechCA$16.4M$16.5MMay 20

Fund League

$3.08B across 230 funds.

#CompanyStateRaisedRaisingFiled
1HPS Core SR Lending Fund III, SCSp rookieIntl$452MindefiniteMay 20
2HPS Core SR Lending International Fund III Feeder, SCSp rookieIntl$452MindefiniteMay 20
3SilverTree Equity VIII LP rookieIntl$168MindefiniteMay 20
4Hayfin HOF II (US) LP rookieIntl$155MindefiniteMay 23
5Conversant Private Investment Fund 892, L.P. rookieNJ$134MindefiniteMay 23
6Achieve Partners Workforce Fund II, L.P. rookieNY$99.9M$300MMay 20
7Ccp Vi-sbic, L.P. rookieIN$82MindefiniteMay 21
8Vesey Street Capital Partners Co-Invest Fund VI, L.P. rookieNY$80MindefiniteMay 20
9Vesey Street Capital Partners Co-Invest Fund VI-A, L.P. rookieNY$80MindefiniteMay 20
10Cpcm Pif III LP rookieVA$72MindefiniteMay 23
All 241 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Aequus Sports, LLCOpenWA$15M$15MMay 23
27Autobooks, Inc.FinanceMI$15M$15MMay 20
28Rhino Federated Computing, Inc.TechMA$15M$15MMay 22
29Avegant Corp.OpenCA$14.8M$30MMay 21
30Veda Tech Labs Inc.TechDE$14.7M$15MMay 21
31Southern Cross Gold Consolidated Ltd.OpenIntl$14.2M$14.2MMay 21
32Leeman Ferry Investors, LLC rookieReal EstateAL$11.8M$12MMay 22
33Graybul Highline LP rookieReal EstateSC$11.5M$11.5MMay 22
34Eckard Prospector Blocker, LLC rookieEnergyTX$11.4MindefiniteMay 23
35Colonial Village JV, LLC rookieReal EstateOH$11M$11MMay 22
36Impart Security Inc.TechCA$11M$12MMay 22
37Missouri Vertical IV Investors, LLCOpenAR$10.8M$10.8MMay 21
38Rhizome Data Inc. rookieTechDC$9.8M$9.8MMay 21
39LIS Technologies IncOpenNY$9.6M$9.6MMay 19
40NeutraNarc Inc. rookieOpenOH$9.6M$9.6MMay 22
41Pinch Med, Inc.Bio & HealthIL$9.4M$9.5MMay 23
42Benton Lane, Inc. rookieOpenAR$8.8M$9MMay 19
43Havenly Barkley LLC rookieReal EstateNY$8.7M$8.7MMay 21
44Thor Directed Energy, Inc. rookieTechPR$7.8M$8.3MMay 19
45Core 15333 Fund, LLC rookieReal EstateAZ$7.6M$12.8MMay 23
46FF Hampshire Investor LLC rookieReal EstateMA$7.4M$7.4MMay 23
47Choo Choo Holdings LLC rookieReal EstateTN$7.3M$9.5MMay 20
48Mango Energy I, LP rookieEnergyTX$7.2M$8MMay 21
49Row64, Inc. rookieTechWY$7.1M$7.3MMay 20
50Praeventix, Inc.Bio & HealthPA$6.8M$6.8MMay 20
51Aliyah RR GP OZ LLC rookieReal EstateCO$6.7M$7.2MMay 19
52Arena Hall Austin, Inc. rookieOpenTX$6.5M$15MMay 19
53Marietta Atlanta Fo Investors, LP rookieReal EstateGA$6.5M$24.4MMay 19
54Standard Carbon Technology Inc. rookieEnergyNY$6.4M$15.4MMay 22
55Lavit Holdings Inc.OpenNY$6M$6.5MMay 20
56Tango Tango, Inc. rookieTechAL$5.9M$6MMay 22
57PowerLattice Technologies Inc rookieTechWA$5.8M$5.8MMay 23
58Zelmo Highline, LLC rookieReal EstateSC$5.8M$17.3MMay 22
59HIG Holdings, LLCFinanceTX$5.7M$5.7MMay 20
60Mississippi TrueBio & HealthMS$5.5M$12MMay 22
61New Range Financial Intelligence, Inc. rookieOpenCA$5.4M$5.4MMay 19
62Northstar Vc Series 31 A Series Of Northstar Venture Capital LLC rookieOpenTX$5.3M$5.3MMay 21
63Kable LLC rookieTechFL$5.1M$5.1MMay 22
64Flo Recruit Inc.TechTX$5M$5MMay 22
65AutoIVF, Inc.Bio & HealthMA$5M$5MMay 22
66LDIA Holdings, LLC rookieTechTX$5M$5MMay 19
67Mstone AI Inc. rookieOpenIntl$5M$5.8MMay 22
68Nevoya, Inc. rookieOpenCA$5M$5MMay 22
69PPC Diskover, LLC rookieTechTX$5M$5MMay 20
70DeepHow Corp.OpenMI$5M$5MMay 21
71Millennial Potash Corp. rookieMain StreetIntl$4.9M$4.9MMay 22
72Hempel GP Fund I, LLC rookieOpenMN$4.8M$20MMay 22
73Skipper Pets, Inc.OpenNC$4.8M$7.5MMay 23
74Call Back Film LLC rookieOpenNY$4.8M$12MMay 23
75Para Inc. rookieTechCA$4.7M$4.7MMay 23
76Courage Therapeutics, Inc. rookieBio & HealthMA$4.5M$10.5MMay 22
77Mealogic, Inc.TechNY$4.5M$4.5MMay 22
78Hickory Hollow Investor, LLC rookieReal EstateTN$4.5M$4.5MMay 23
79Nevoya, Inc. rookieOpenCA$4.3M$5MMay 22
80Nature's Toolbox, Inc.Bio & HealthNM$4.2M$15MMay 22
81Sent, Inc. rookieTechNY$4.1M$4.1MMay 22
82Augusta Park Partners, LLC rookieReal EstateTX$4.1M$4.2MMay 22
83Colonial Village Investor, LLC rookieReal EstateOH$4M$4MMay 22
84Columnar Technologies Inc. rookieOpenNY$4M$4.2MMay 21
85Branch Therapeutics, Inc. rookieBio & HealthTX$4M$4MMay 23
861870 Embarcadero LP rookieReal EstateCA$4M$7.2MMay 23
87ADVR, Inc. rookieOpenSC$3.8MindefiniteMay 23
88Overview Corp rookieTechCA$3.8M$3.8MMay 21
89Reset Technology CorpOpenTX$3.7M$3.7MMay 21
90Tandem App, Inc. rookieTechCA$3.7M$3.7MMay 19
91CorgiAI, Inc. rookieTechOR$3.6M$3.6MMay 19
92King Global Ventures Inc.OpenIntl$3.6M$3.6MMay 23
93Real American Wrestling, Inc. rookieOpenFL$3.5M$3.5MMay 20
94Ps-fertility, Inc. rookieBio & HealthVA$3.5M$3.5MMay 20
95Sandstone Cleburne 30 Partners Ltd rookieReal EstateTX$3.4M$3.4MMay 21
96Olorin Investors LLC rookieFinanceMD$3.4M$3.8MMay 22
97Resonance Companies, Inc.TechNY$3.3M$5MMay 21
98RAF Pacifica - Texas Fund VIII, LLC rookieReal EstateTX$3.2MindefiniteMay 19
99Denari Labs Inc. rookieTechNY$3.1M$3.1MMay 19
100Ross Riverchase LLC rookieReal EstateFL$3M$3MMay 22
101Rse Rap, LLC rookieOpenNY$3M$3MMay 19
102Vimano Inc rookieMain StreetTX$2.9M$2.9MMay 20
103Rise Gold Corp.OpenIntl$2.7M$5.2MMay 21
104Goldgroup Mining Inc.OpenIntl$2.6M$2.6MMay 21
105Havenly Barkley A LLC rookieReal EstateNY$2.6M$2.6MMay 21
106Palarum Security LLC rookieTechOH$2.5M$5MMay 21
107TMG Tysons Central, LP rookieReal EstateMD$2.5M$10MMay 21
108X25 Orange Fund, a series of Capitalize Funds LP rookieOpenCA$2.4M$2.4MMay 19
109Cosmos Fund LLCOpenNY$2.4MindefiniteMay 23
110Legacy Lyfe Holdings, LLCBio & HealthPA$2.3M$15MMay 20
111ShortTok, Inc.TechNY$2.2M$2.2MMay 21
112MG Assets IV, LLCReal EstateCA$2.1M$2.4MMay 21
113SlashExperts Inc rookieTechCA$2.1M$2.1MMay 20
114First Niles Financial Inc rookieFinanceOH$2.1M$3MMay 19
115Boom II, a series of Capitalize Investments LLC rookieOpenTX$2M$2MMay 19
116Orrick Financial CorpFinanceMO$2M$6MMay 22
117Biller Genie Software, Inc. rookieTechFL$2M$2MMay 19
118Lunar Outpost IncTechCO$2M$2MMay 23
119Aae Tg Op-co Las Vegas LLC rookieOpenFL$1.9M$10MMay 20
120Bliss Holdings, LLC rookieReal EstateGA$1.9M$3.4MMay 20
121Paragon Motorcycles Inc. rookieMain StreetIN$1.8M$1.8MMay 21
122TXC Andrews, LLC rookieReal EstateTN$1.7MindefiniteMay 23
123Cardio Capital X-Tension LLC rookieFinanceMA$1.6M$1.6MMay 21
124Kalabo Investments, LLC rookieMain StreetTN$1.5M$1.5MMay 20
125Nri, LLC rookieReal EstateCO$1.5M$1.5MMay 19
126iRestify, Inc. rookieOpenTX$1.4M$4MMay 23
127Dallas MSA Small Bay Industrial 91 DST rookieReal EstateCA$1.4M$6.1MMay 20
128Greenwood & Cavalier Firehawk, LPMain StreetTX$1.4M$1.4MMay 23
129LCG 2933b LLCOpenNJ$1.4M$4MMay 21
130Pishon Capital Fund LP rookieFinanceTX$1.4MindefiniteMay 19
131Essential Net Lease Industrial 93 DST rookieReal EstateCA$1.4M$5.2MMay 20
132Sls Plaza LLC rookieReal EstateFL$1.4M$1.4MMay 20
133Composabl, Inc.TechCA$1.3M$3MMay 19
134Ryly Li, LLC rookieReal EstateCA$1.3M$2.3MMay 22
135Avants, Inc.TechWA$1.2M$1.5MMay 19
136Rabourn Road Industrial Partners LLC rookieReal EstateTX$1.2M$1.2MMay 20
137Toringdon Property Partners, LLC rookieReal EstateCA$1.2M$2MMay 22
138Trava Security, Inc.TechIN$1.2M$1.5MMay 20
139Aquitaine Metals Corp. rookieOpenIntl$1.2M$1.2MMay 19
140Prairie Grove, LLC rookieReal EstateWI$1.1M$1.1MMay 23
141Polis MedTech Ventures LLC - Series 2 rookieFinanceDE$1.1M$1.1MMay 19
142Prostar Holdings Inc. /bcTechCO$1.1M$1.1MMay 21
143Wenbelle Holding Company, LLC rookieReal EstateME$1.1M$1.1MMay 23
1442025 Greenwood & Cavalier Pepelwerk, LP rookieTechTX$1M$1.5MMay 19
145Anthropocene VI, LLC rookieOpenCA$1M$1MMay 22
146Clh - Celina 1, LLC rookieReal EstateTX$1M$2.5MMay 20
147Ladybird Taco Holding, LLC rookieMain StreetTN$1M$2.5MMay 23
148One River Fund I LP rookieOpenFL$1M$1MMay 22
149Reprogram Biosciences, Inc. rookieBio & HealthCA$1M$1MMay 23
150Eat the Change, Inc.OpenMD$1000K$1000KMay 23
151Palm Tree Crew Holdings, LLCOpenFL$1000K$5MMay 21
152Blackfin F&F Sage Creek LLC rookieReal EstateVA$900K$7MMay 23
153Series 31-3, a series of StartEngine Private LLC rookieOpenCA$815K$2.6MMay 22
154TV Old Town LPReal EstateCA$800K$28MMay 19
155Woodford Partnership 82, LLC rookieEnergyTX$788K$945KMay 20
156Monsoon Venture Fund 2025 LLC rookieOpenAZ$775K$775KMay 21
157SnippetSentry, LLCTechCA$774K$2.5MMay 22
158NeuroQuest Development Center, Inc. rookieBio & HealthSC$750K$2MMay 19
159Teebox Holdings, LLC rookieReal EstateAZ$750K$750KMay 19
160Maven Mantle Investments LLC rookieFinanceLA$725KindefiniteMay 23
161Zodiac Gold Inc.OpenIntl$614K$1.6MMay 20
162WB Pref Equity Fund I LLC rookieReal EstateAZ$610K$1MMay 23
163Porter Legacy Group Funding LLC rookieReal EstateTX$600K$2.5MMay 20
164Waypoint Originations II LLC rookieFinanceCO$575K$900KMay 21
165Foxo Technologies Inc.OpenFL$550K$550KMay 22
166Lavli, Inc. rookieOpenNY$550K$2.5MMay 22
167Buckeye Baseline Rd & Johnson Rd 620 Acres LLC rookieReal EstateAZ$525K$2.4MMay 21
168Goodbridge Capital Corp. rookieOpenIntl$517K$1.2MMay 22
169ProQure, IncTechCA$509K$1.2MMay 21
170SMK Alternative Fund IV LLC rookieReal EstateOR$501K$10MMay 21
171Anabaptist Equities LLC rookieOpenTX$500K$15MMay 19
172Botany Scientifics LLC rookieBio & HealthTX$500K$500KMay 23
173Chococeuticals, Inc rookieMain StreetFL$500K$505KMay 21
174Evio Venture Capital, LLC rookieFinanceIntl$500K$1MMay 22
175Nova Luminous Crypto Trading Center Ltd rookieMain StreetNJ$500K$500KMay 20
176PatternFast, Inc rookieTechCA$500K$500KMay 22
177Remedtx, Inc. rookieBio & HealthOR$500K$500KMay 23
178SkyCrest Capital Inc rookieMain StreetCO$500K$500KMay 23
179Nurocor IncTechTX$460K$3MMay 22
180Yummy Bazaar, Inc.OpenNJ$450K$450KMay 22
181InfraSight Software CorpTechNC$415K$2.5MMay 20
182Rubicon Organics Inc.Main StreetIntl$415K$744KMay 22
183Latin Metals Inc.OpenIntl$413K$2.1MMay 23
184Titus 1 Joint Venture rookieEnergyLA$395K$988KMay 21
185Goodnight Oscar London LLC rookieOpenNY$391K$1.5MMay 19
186MSKAi, LLCBio & HealthTN$375K$650KMay 19
187Old Creek Athens LLC rookieReal EstateNY$375K$425KMay 22
188Circula-AI IncBio & HealthFL$351K$1MMay 23
189Atlas American Properties LLCReal EstateTN$350K$650KMay 20
190TMG Tysons Central Co-Invest, LP rookieReal EstateMD$350K$1.5MMay 21
191Capitano Legacy Partners LLC rookieMain StreetNC$345K$1.5MMay 22
1921291 LLC rookieOpenIntl$340K$340KMay 22
193Incite Health Life Sciences, Inc.Bio & HealthPA$331K$2MMay 22
194Fleet Defender, inc.TechNE$320K$1MMay 21
195Sky Bite Corp rookieTechNC$310K$310KMay 23
196Low Tide Private Lending, LLCOpenSC$300K$10MMay 21
197Routt County Bancorporation, Inc.FinanceCO$282K$4.8MMay 19
198UMS Wellington URS Lithotripsy, LLC rookieBio & HealthMA$259KindefiniteMay 22
1995Metis, Inc.OpenNC$250K$500KMay 21
200Allera Technologies Inc. rookieTechTN$250K$1MMay 21
201Bird River Resources Inc.OpenIntl$250K$250KMay 21
202Haven Capital LLC rookieReal EstateWA$250K$3.3MMay 22
203Landoption, Inc. rookieOpenNE$250K$600KMay 20
204Morningside Fitness Holdings, LLCFinanceNY$250K$250KMay 22
205Turf Fc Atx, LP rookieOpenTX$250K$8.5MMay 22
206iOncologi, Inc.Bio & HealthFL$250K$12MMay 23
207Orbio Health Inc. rookieBio & HealthDE$249K$500KMay 21
208Oakridge Dairy LLCMain StreetCT$229K$1MMay 20
209AEMS Corp.TechCO$225K$500KMay 21
210Granite Heartland Holdings LLC rookieReal EstateMO$220K$6MMay 19
211Subvert Incorporated, PBC rookieOpenNY$215K$850KMay 21
212Think Energy Holdings Inc rookieEnergyFL$200K$30MMay 19
213TwentyThirty Inc. rookieTechDE$200KindefiniteMay 19
214Red Town Road Property LLC rookieReal EstateTX$150K$250KMay 20
215Gaingels Barndoor AI LLC rookieOpenVT$135K$135KMay 19
216Aloft Biotechnologies, Inc. rookieBio & HealthFL$130K$300KMay 21
217Neighbor Serve LLCTechIN$128K$500KMay 19
218BI Credit Fund V REIT LLC rookieReal EstateFL$110K$125KMay 23
219ThermoShade Solutions Inc. rookieOpenCA$105K$500KMay 19
220Aries Space Coast Land Investors, LLC rookieReal EstateFL$100K$3MMay 20
221Brooklyn Dumpling Parent Holdings, Inc.OpenNJ$100K$100KMay 20
222Texakoma Resources, LLCEnergyTX$100K$60MMay 20
223Try Once, Inc.OpenCA$100K$1MMay 20
224X1 Biotech Inc. rookieTechMA$95K$200KMay 21
225WEG Consolidated, LLCOpenMA$75KindefiniteMay 20
226Force Equals Inc. rookieOpenFL$65K$65KMay 20
227Canter Resources Corp.OpenIntl$59K$59KMay 20
228C2 Blockchain,Inc.TechFL$50K$300KMay 20
229Kalimotxo LLC rookieOpenMI$50K$1MMay 22
230Sute Media Inc.OpenMA$50K$300KMay 20
231Totemica Beauty Ritual Enterprise, LLCOpenFL$50K$50KMay 23
232Gaingels TensorStax LLC rookieOpenVT$46K$46KMay 22
233Stargaze Group INC rookieTechNY$40K$400KMay 20
234Antares Corp.Main StreetCO$30K$5MMay 21
235Brooklyn Dumpling Parent Holdings, Inc.OpenNJ$25K$25KMay 20
236Verus Partners, LLCOpenVA$23K$80KMay 20
237Collanity, Inc rookieTechCA$19K$100KMay 22
238Grublify Inc. rookieMain StreetCA$10K$150KMay 22
239STI Inc rookieTechMD$10KindefiniteMay 23
240Techatomic Inc rookieTechGA$10K$175KMay 23
241AR2 Project, LLC rookieTechFL$1$1May 23