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 25, 2025 (Jun 16–22)

197 companies reported $2.41B in new private raises on Form D in Week 25, 2025 (Jun 16–22). The biggest was Pacific Life Insurance Co, $1.02B in the Finance League from California. Merrit Community Capital Fund 25, L.P. ($100M) and Pacific Life Insurance Co ($100M) rounded out the top three. The Finance League led all leagues with $1.31B across 16 raises. California topped the state standings with $1.48B. That is down 38% versus the week before ($3.88B). 112 of the 197 were first-time Form D filers, led by Merrit Community Capital Fund 25, L.P. ($100M). In the Fund League, 170 funds reported $4.08B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Pacific Life Insurance CoFinanceCA$1.02B$1.02BJun 20
2Merrit Community Capital Fund 25, L.P. rookieOpenCA$100M$200MJun 16
3Pacific Life Insurance CoFinanceCA$100M$100MJun 16
4Peoples Financial Services Corp.FinancePA$85M$85MJun 20
5Xona Space Systems Inc.OpenCA$74.6M$74.6MJun 20
6Bitwise Asset Management, Inc.OpenCA$70M$70MJun 20
7Meritum Energy Holdings, LPOpenTX$54.3M$54.3MJun 17
8Nominal, Inc.OpenTX$50.8M$50.9MJun 16
9Spyglass - Decatur East Holdings, LLC rookieReal EstateNY$48.5M$48.5MJun 16
10Chemung Financial Corp rookieFinanceNY$45M$45MJun 17
11Rangers FC Investors, LLC rookieOpenDE$43M$43MJun 17
12Fermat Commerce, Inc.OpenCA$40M$45.1MJun 16
13KB Napoleon, DST rookieReal EstateNV$37.9M$49.4MJun 20
14Bunker Hill Mining Corp.OpenIntl$32.5M$64.7MJun 20
15TotMech Investors, LP rookieOpenMD$28.2M$28.2MJun 17
16JCP Credit Fund I LLC rookieFinanceNJ$26.1M$75MJun 17
17Nominal, Inc.OpenTX$23.7M$23.7MJun 16
18Finch Legal Inc. rookieTechNY$23.7M$23.7MJun 16
19Onebrief, Inc.TechHI$23.6M$23.6MJun 17
20TSOLife Inc.OpenFL$23M$43MJun 16
21Clinical Acquisitions Holdings LPBio & HealthNY$20.3M$20.3MJun 20
22LAGO Apex Credit Corp rookieOpenIL$20M$20MJun 18
23Greensea Systems, Inc. rookieTechVT$18.5M$18.5MJun 18
24Messenger Place DST rookieReal EstateVA$17.3M$34.1MJun 16
25OutcomeMD, Inc.Bio & HealthCA$15.2M$17.6MJun 18

By league

LeagueRaisedRaises
Finance$1.31B16
Open$608M52
Real Estate$200M40
Tech$196M56
Bio & Health$61.3M17
Main Street$31M13
Energy$3M3

By state

StateRaisedRaises
California$1.48B29
Texas$178M23
New York$169M21
Pennsylvania$85.1M2
International$56.1M19
Florida$51.1M9
Delaware$48.5M5
Nevada$39.1M4
Maryland$31.1M3
New Jersey$26.1M2
Hawaii$23.6M1
Ohio$23.5M5
Illinois$21.9M5
Virginia$19.8M5
Colorado$19.5M9

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Merrit Community Capital Fund 25, L.P. rookieOpenCA$100M$200MJun 16
2Spyglass - Decatur East Holdings, LLC rookieReal EstateNY$48.5M$48.5MJun 16
3Chemung Financial Corp rookieFinanceNY$45M$45MJun 17
4Rangers FC Investors, LLC rookieOpenDE$43M$43MJun 17
5KB Napoleon, DST rookieReal EstateNV$37.9M$49.4MJun 20
6TotMech Investors, LP rookieOpenMD$28.2M$28.2MJun 17
7JCP Credit Fund I LLC rookieFinanceNJ$26.1M$75MJun 17
8Finch Legal Inc. rookieTechNY$23.7M$23.7MJun 16
9LAGO Apex Credit Corp rookieOpenIL$20M$20MJun 18
10Greensea Systems, Inc. rookieTechVT$18.5M$18.5MJun 18

Fund League

$4.08B across 170 funds.

#CompanyStateRaisedRaisingFiled
1West Street Asia Equity Partners I Offshore LP rookieNY$686MindefiniteJun 18
2Pathway Private Equity Fund III-Co, LPCA$500M$500MJun 17
3West Street Climate Credit Co-Investment (C) LP rookieNY$500MindefiniteJun 18
4KKR North America XIV Private Investors Offshore SICAV-RAIF S.C.Sp. rookieIntl$391MindefiniteJun 16
5KKR North America XIV Private Investors, LLC rookieNY$343MindefiniteJun 16
6AURELIUS Opportunities V, S.C.A. SICAV-RAIF rookieIntl$156M$645MJun 20
7Decathlon Alpha VI, L.P. rookieUT$141M$300MJun 18
8Terramont Horizon Blocker LLC rookieNY$100MindefiniteJun 17
9Terramont Horizon Co-Invest, L.P. rookieNY$100MindefiniteJun 17
10GMO World Market Neutral Fund, L.P. rookieMA$85MindefiniteJun 20
All 197 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26SPCM - Fetch Senior Debt LLC rookieFinanceUT$15M$17MJun 17
27Blacksmith Software Inc. rookieTechCA$13.6M$14.6MJun 20
28Boyd Watterson Tactical CLO Offshore Fund, LP rookieFinanceOH$10.8MindefiniteJun 18
29Foundry Partners PTH 5, LLC rookieReal EstateFL$10.8M$20MJun 18
30Firestorm Labs, Inc.TechCA$10M$10MJun 20
31Amarillo Tech Opportunity LLC rookieTechPR$9.8M$10MJun 20
32Pallet PBCMain StreetWA$9.6M$10.7MJun 16
33Sterling LSU Tiger Pointe Class A, LLC rookieReal EstateTX$9.6M$9.6MJun 17
34Uni Express Inc.OpenIntl$9.5M$70MJun 20
35Phoenix Semiconductor CorpTechTX$9.1M$9.1MJun 17
36Parkridge, LLC rookieReal EstateCO$7.9M$20MJun 16
37Inclined Technologies IncTechCA$7.9M$8MJun 18
38Terviva, Inc.Main StreetCA$7.7M$60MJun 18
39Oblong, Inc.TechCO$7.5M$7.5MJun 20
40Pinata Rent, Inc.TechNY$7.3M$13.3MJun 16
41Freedom Trail II LB, L.P. rookieReal EstateTX$7.2M$7.5MJun 20
42Simcha Therapeutics Holding Company, LLCBio & HealthCT$7.1M$10MJun 20
43AiM Medical Robotics Inc.Bio & HealthMA$6.7M$10.8MJun 18
44Molekule Group, Inc./DE rookieMain StreetFL$6.6M$6.6MJun 16
45RHM Capital Flats at ISU LLC rookieReal EstateOH$6.2M$6.2MJun 17
46RHM Capital Flats at ISU LLCReal EstateOH$6.2M$6.2MJun 18
47Platte River MHC LLC rookieReal EstateMO$6.1M$6.1MJun 20
48Meritum RJ Blocker, LLC rookieOpenTX$5.9M$5.9MJun 17
49Supply Wisdom IncTechNY$5.3M$8.2MJun 20
50Concrete AI, Inc. rookieTechCA$5.2M$5.8MJun 17
512952 Folsom Street Investors, LLC rookieReal EstateAL$4.9MindefiniteJun 18
52Quorus Inc.TechCT$4.6M$5MJun 17
53Patrol AI, Inc. rookieTechMA$4.3M$4.5MJun 18
54Pheiron, Inc. rookieOpenDE$4.2M$7.1MJun 20
55Vanamor Cleveland Crossing Investments L.P. rookieReal EstateCA$3.9M$3.9MJun 17
56Milly Books, Inc.OpenIN$3.8M$5.8MJun 17
57Infinity Loop Technologies Inc. rookieTechNY$3.7M$3.7MJun 18
58West Point Gold Corp.OpenIntl$3.5M$3.5MJun 16
59Cima Houston IHCo, LLC rookieReal EstateWY$3.5M$3.5MJun 18
60DIA EH Hospitality Investments, LLC rookieReal EstateFL$3.5M$5MJun 17
61Ridge 380 Crossing LLC rookieReal EstateTX$3.4M$3.6MJun 16
62Emip 18, LLC rookieReal EstateNY$3MindefiniteJun 18
63Long Angle, Inc. rookieTechTX$3M$7.2MJun 16
64Vested, Inc. rookieFinanceFL$3M$8MJun 20
65Anodet Inc. rookieTechNY$3M$3MJun 16
66Henry Rose Inc. rookieOpenCA$3M$3MJun 20
67TNG Coronado Partners, LP rookieReal EstateCA$2.9M$3.5MJun 18
68First Oklahoma Holdings, Inc.FinanceOK$2.9M$3MJun 16
69TotMech GP, LLC rookieOpenMD$2.9M$2.9MJun 16
70eMotive Software, Inc.TechTX$2.8M$3.2MJun 17
71Ostra Cybersecurity, Inc.TechMN$2.6M$2.6MJun 20
72Spring Labs Holdings, Inc. rookieTechCA$2.5M$3.2MJun 20
73Suno Software, Inc.TechNY$2.5M$2.5MJun 17
74Versatile Communications, Inc. rookieOpenCA$2.5M$2.5MJun 18
75Paratus AI, Inc. rookieTechCA$2.5M$2.8MJun 16
76Bitfufu Inc.TechIntl$2.4M$2.4MJun 16
77Indaptus Therapeutics, Inc.Bio & HealthNY$2.3M$5MJun 20
78Switchboard Health, Inc.TechID$2.2M$4MJun 20
79Edison Motors Ltd. rookieMain StreetIntl$2M$2MJun 16
80DepositLink Inc.TechMA$2M$2MJun 17
81Long Angle Management, LLC rookieFinanceOR$2M$4.8MJun 16
82Lumina Pharmaceuticals Inc. rookieBio & HealthMA$2M$2MJun 20
83PL - 2025 Predevelopment, LLC rookieMain StreetNC$2M$2MJun 20
84GeneCentric Therapeutics, Inc.Bio & HealthNC$2M$5MJun 20
85Ara Labs Inc.TechCA$2M$2MJun 20
86Eckard Winstep, LLC rookieEnergyTX$1.9MindefiniteJun 20
87Inspired Senior Living of Cinnaminson DST rookieReal EstateAZ$1.7M$46.6MJun 16
88Lowell Capital Partners, LP rookieReal EstateAR$1.7M$2MJun 17
89Foxo Technologies Inc.OpenFL$1.6M$1.6MJun 20
90Artom Ventures, Inc. rookieTechVA$1.6M$1.6MJun 16
91Oro Muscles, Inc. rookieBio & HealthFL$1.6M$2.6MJun 18
92Aktivate, Inc.TechNY$1.5M$2.5MJun 20
93Vitae Capital V - A, LLCReal EstateTX$1.4M$5MJun 16
94Jackpot Digital Inc.Main StreetIntl$1.4M$2.8MJun 17
95Lomont Secondary Investment, LLC rookieOpenIA$1.4M$1.4MJun 20
96Reselute, Inc.OpenNC$1.4M$4MJun 17
97Koyo Sciences Inc. rookieBio & HealthMA$1.3M$20.4MJun 18
98501 Main QOF LLC rookieReal EstateIN$1.3M$1.3MJun 16
99Haven Rio LLC rookieReal EstateAZ$1.2M$6MJun 18
100Salestools AI Inc. rookieTechIntl$1.2M$1.2MJun 20
101ZioSec, Inc. rookieTechCO$1.2M$2.1MJun 16
102Nectar Newport II 2025, LLC rookieReal EstateCO$1.2M$1.2MJun 18
103AltrixBio, Inc.Bio & HealthMA$1.2M$10MJun 16
104VF Widefield LLC rookieReal EstateCO$1.1M$2.5MJun 20
105Wb Commerce Holdings LLCReal EstateOR$1.1M$6.8MJun 20
106Visible.vc, Inc.OpenIL$1M$1MJun 18
107IHC Security Income Fund LLC rookieReal EstateAZ$1M$18MJun 16
108Aktivate, Inc.TechNY$1M$1MJun 20
109Sunnie, Inc.OpenCA$1M$1MJun 20
110X1 Labs, Inc rookieTechDE$1MindefiniteJun 18
111Woodford Partnership 83, LLC rookieEnergyTX$983K$1.2MJun 18
112Skuvent Inc rookieTechTX$900K$1MJun 17
113KB Northbrook, DST rookieReal EstateNV$803K$35.6MJun 20
114Sunridge Equity SPV LLC rookieReal EstateAZ$796K$4MJun 16
115Genecis Bioindustries Inc.OpenIntl$750K$750KJun 18
116Chicago Burlington LLC rookieReal EstateIL$700K$750KJun 18
117Gladiator AI Inc. rookieTechTX$675K$3MJun 20
118OpenTeams Holdings, Inc. rookieTechTX$670K$106MJun 18
119Palmetto & Pine, LLC rookieOpenNC$598K$598KJun 18
120Seven Roads Tour Ltd Liability Co rookieOpenNY$569K$4.2MJun 18
121ElectroTempo, Inc.TechVA$550K$2MJun 17
122Roers Lake Elmo Apartments LLC rookieReal EstateMN$550K$24MJun 17
123Vitae Capital V - Q, LLCReal EstateTX$550K$5MJun 16
124Deal Flow Xchange Inc. rookieTechMA$548K$1.6MJun 18
125Analytics for Life Inc.Bio & HealthIntl$500K$20MJun 20
126Belli Corp rookieTechMI$500K$500KJun 20
127Green Matters Technologies Inc.Main StreetIntl$500K$500KJun 20
128Hedonic Mindset Partners CorpFinanceFL$500K$500KJun 20
129Onar Holding Corp rookieOpenFL$500K$6MJun 18
130Tso Delivery, Inc.TechTX$474K$2.5MJun 20
131Homes Built For America, Inc. rookieReal EstateCA$450K$10MJun 16
132Genvor Inc rookieMain StreetNV$425K$2.5MJun 17
133Newland NC Self Storage, LLC rookieReal EstateNC$425K$550KJun 20
134Fairchild Gold Corp.OpenIntl$421K$421KJun 18
135Integral Metals Corp. rookieOpenIntl$400K$400KJun 17
136Oak Pointe Apartments LLC/AR rookieReal EstateAR$400K$650KJun 17
137Oscar Wilde Spirits, Inc.OpenCA$390K$3MJun 16
138Rose Management Group Inc.Bio & HealthCO$373KindefiniteJun 18
139Kindred PM, Inc. rookieOpenNY$350K$1MJun 18
140Banzai International, Inc.TechWA$330K$330KJun 18
141IMX Power Holdings LLC rookieOpenDE$300K$300KJun 20
142Rostra Labs, Inc. rookieTechKS$300K$1MJun 20
143Synergos Fund, L.P. rookieOpenDC$300K$150MJun 16
144Union Regional Water, Recreational & Economic Development Authority LLCReal EstateOH$300K$10MJun 18
145Green Gourmand Foods Inc.Main StreetIntl$293K$293KJun 20
146Ark DeepDefense Inc. rookieTechCA$286K$500KJun 16
147NeuroVice, Inc. rookieBio & HealthNC$270K$3MJun 20
148URZ3 Energy Corp.OpenIntl$269K$757KJun 16
149Karousels Inc.TechMN$250K$1.2MJun 20
150ReEngage Therapeutics, Inc.Bio & HealthTX$250K$8MJun 18
151Revaly, Inc.TechSC$245K$1MJun 17
152Welon Trust, Inc. rookieFinanceAL$210K$2MJun 16
153606 West Main Street LLC rookieMain StreetVA$200K$1.2MJun 16
154Opanga Networks, Inc.TechWA$200K$200KJun 18
155GS Finance Corp.FinanceNY$154K$154KJun 17
156Paratus AI, Inc. rookieTechCA$150K$150KJun 16
157Santiago Communities, Inc.OpenCA$150K$2MJun 20
158GS Finance Corp.FinanceNY$141K$141KJun 17
159Inomagen Therapeutics, Inc.Bio & HealthIL$140K$3.8MJun 20
160Fusion Energy Solutions, Inc.OpenAZ$130K$130KJun 20
161Ehs Dii 2 LLC rookieReal EstateNY$124K$124KJun 18
162Splice Technologies, Inc.Main StreetVA$120K$500KJun 20
163Seniors Housing Fund I Master REIT LLC rookieReal EstateOH$107K$125KJun 20
164Gaingels Ninjatech 2025 LLC rookieOpenVT$104K$104KJun 20
165Alphabetasoup LLC rookieTechWA$100K$100KJun 18
166Amai Inc.OpenCA$100K$100KJun 16
167Amai Inc.OpenCA$100K$100KJun 18
168Atlas Foundation Fund LP rookieFinancePA$100KindefiniteJun 20
169Conx-usa, Inc rookieTechCO$100K$3MJun 18
170BRAVR Technologies B.V. rookieTechIntl$90K$175KJun 17
171Kingsmen Resources Ltd.OpenIntl$83K$83KJun 17
172Wytec International IncTechTX$82K$250KJun 18
173Santiago Ridgecrest Estates, LLCOpenCA$81K$500KJun 16
174Grapple, Inc. rookieTechNE$75K$250KJun 17
175Ares Strategic Mining Inc.OpenIntl$73K$73KJun 20
176EPOCH Epigenetics, Inc. rookieBio & HealthMD$72K$3MJun 16
177Oilcreek Oswego Program, LP rookieEnergyTX$70K$3.5MJun 16
178Gaingels Fizz 2025 LLC rookieOpenVT$68K$68KJun 18
179ClaimPig, inc. rookieTechIL$65K$250KJun 16
180Koulou Gold Corp.OpenIntl$60K$60KJun 18
181Karkiko Capital LLC rookieReal EstateTX$60K$3MJun 18
182Ursamin, Inc. rookieTechNY$55K$500KJun 18
183ACRE Partners REIT II LLC rookieReal EstateGA$52K$125KJun 17
184Widdyup, Inc.OpenWY$52K$52KJun 16
185Brightpave Markers Inc.OpenCO$50K$1.5MJun 18
186Cistus Media Inc.OpenNJ$50K$750KJun 16
187Essential HR Holdings LLC rookieTechCA$50K$50KJun 16
188First Peoples Bankshares, Inc.FinanceGA$50K$25MJun 17
189Little Spoon Studio LLC rookieMain StreetDC$50K$1MJun 20
190Pangea Natural Foods Inc. rookieMain StreetIntl$36K$73KJun 16
191Pistashio Company, Inc. rookieOpenNY$35K$350KJun 18
192Lithotripsy Institute of Indiana, LLCBio & HealthTX$28K$28KJun 20
193Gaingels Betr 2025 LLC rookieOpenVT$28K$28KJun 20
194Bee off Broadway Ltd Liability Co rookieOpenNY$25K$3.2MJun 20
195First Home Inc rookieReal EstateNV$25K$350KJun 20
196Daiky Inc rookieTechDE$23K$75KJun 17
197SmartMedia Technologies HoldCo, Inc. rookieTechCO$13K$13KJun 18