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 26, 2025 (Jun 23–29)

241 companies reported $1.73B in new private raises on Form D in Week 26, 2025 (Jun 23–29). The biggest was PNC LIHTC Fund 98, LLC, $208M in the Real Estate League from Oregon. Gravie, Inc. ($144M) and Mach Industries Inc. ($102M) rounded out the top three. The Real Estate League led all leagues with $628M across 67 raises. California topped the state standings with $316M. That is down 28% versus the week before ($2.41B). 150 of the 241 were first-time Form D filers, led by PNC LIHTC Fund 98, LLC ($208M). In the Fund League, 219 funds reported $19.38B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1PNC LIHTC Fund 98, LLC rookieReal EstateOR$208M$208MJun 26
2Gravie, Inc.Bio & HealthMN$144M$150MJun 26
3Mach Industries Inc.OpenCA$102M$102MJun 26
4Merchants Capital Tax Credit Equity Fund 23, L.P. rookieReal EstateIN$88.6M$88.6MJun 25
5Merchants Capital Tax Credit Equity Fund 25, LLC rookieReal EstateIN$66M$66MJun 25
6Arthrosi Therapeutics, Inc.Bio & HealthCA$60.9M$153MJun 24
7Redem Tech, Inc.TechIntl$52.6M$100MJun 26
8Bethany Bankshares Inc rookieFinanceMO$37.5M$37.5MJun 25
9Sevaro Health IncTechNJ$35M$40MJun 26
10BGO US III Titanium Co-Investment LP rookieReal EstateNY$28MindefiniteJun 25
11Momo Orchard Holdings, Inc.OpenNY$26.7M$30MJun 24
12PolyPid Ltd.Bio & HealthIntl$26.7M$26.7MJun 23
13Personio Group SE rookieTechIntl$25.9M$25.9MJun 23
14Catalex Network Partners LLC rookieMain StreetCA$25MindefiniteJun 23
15Willowbrook Investment Partnership LLC rookieReal EstatePA$24.1M$24.1MJun 23
16Fastino Inc rookieTechCA$23.6M$24.6MJun 25
17FLC Meeting St Investors LLC rookieReal EstateDC$20.1M$20.1MJun 27
18Ensodata, Inc.Bio & HealthWI$20M$20MJun 27
19Chlorum Solutions USA Parallel LLC rookieOpenIL$20M$20MJun 26
20Novoloop, Inc.TechCA$19.2M$30.1MJun 25
21BiomEdit, Inc. rookieBio & HealthIN$16M$20MJun 26
22HPI Bandera DST rookieReal EstateCT$15.4M$20.7MJun 26
23Kastle Biopartners II LP rookieOpenFL$14.4M$100MJun 27
24KEA Cloud, Inc. rookieTechCA$13.7M$15MJun 26
25Million Software, Inc. rookieTechCA$13.6M$13.6MJun 27

By league

LeagueRaisedRaises
Real Estate$628M67
Bio & Health$329M22
Tech$315M50
Open$309M68
Finance$106M16
Main Street$35M13
Energy$4.6M5

By state

StateRaisedRaises
California$316M28
Oregon$224M3
Indiana$171M4
International$151M28
Minnesota$148M4
New York$121M24
Massachusetts$64.1M12
Illinois$61.7M8
Florida$60.3M15
Texas$58.2M19
Missouri$50.2M6
New Jersey$37.3M3
Connecticut$34.7M6
Ohio$28.6M8
Wisconsin$26.6M3

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1PNC LIHTC Fund 98, LLC rookieReal EstateOR$208M$208MJun 26
2Merchants Capital Tax Credit Equity Fund 23, L.P. rookieReal EstateIN$88.6M$88.6MJun 25
3Merchants Capital Tax Credit Equity Fund 25, LLC rookieReal EstateIN$66M$66MJun 25
4Bethany Bankshares Inc rookieFinanceMO$37.5M$37.5MJun 25
5BGO US III Titanium Co-Investment LP rookieReal EstateNY$28MindefiniteJun 25
6Personio Group SE rookieTechIntl$25.9M$25.9MJun 23
7Catalex Network Partners LLC rookieMain StreetCA$25MindefiniteJun 23
8Willowbrook Investment Partnership LLC rookieReal EstatePA$24.1M$24.1MJun 23
9Fastino Inc rookieTechCA$23.6M$24.6MJun 25
10FLC Meeting St Investors LLC rookieReal EstateDC$20.1M$20.1MJun 27

Fund League

$19.38B across 219 funds.

#CompanyStateRaisedRaisingFiled
1ACE & Co SCSp SICAV-RAIF - ACE Buyout V rookieIntl$16B$16BJun 23
2QRT Dislocation LP rookieIntl$1.21BindefiniteJun 26
3QRT Dislocation Ltd rookieIntl$216MindefiniteJun 26
4Seniors Housing Fund I Feeder LP rookieOH$171MindefiniteJun 25
5BBH Wealth Strategies, LLC - Soroban Series rookieNY$136MindefiniteJun 25
6Bain Capital Insurance Dedicated Fund VII Series of the SALI Multi-Series Fund, L.P. rookieTX$132MindefiniteJun 26
7Sundance Growth Fund I LP rookieCA$123MindefiniteJun 23
8IC Investors LP rookieNY$115MindefiniteJun 23
9Gqg Partners U.S. Quality Equity Fund - Gqg Partners Series LLC rookieFL$115MindefiniteJun 27
10AlleyCorp Partners II LP rookieNY$107M$107MJun 24
All 241 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Frenzy Crop Systems, Inc. rookieOpenIL$13.6M$18.8MJun 25
27Abre.io Inc.TechOH$13M$13MJun 25
28CPI E Cornwallis Durham Partners LLC rookieReal EstateMA$13M$13MJun 23
29Matan Crosspointe Holdings, LLC rookieReal EstateMD$12.8M$12.8MJun 26
30Algebraic Capital Cayman Ltd. rookieOpenIntl$12MindefiniteJun 24
31MFP Statesboro 2025 JV LLC rookieReal EstateFL$11.1M$11.1MJun 27
32Alcar Inc. rookieFinanceCT$11M$11MJun 24
33Rally HQ, Inc.TechNY$11M$11MJun 23
34Dash Bio, Inc.Bio & HealthMA$11MindefiniteJun 26
35VoyceMe Inc. rookieTechNC$10.9M$10.9MJun 24
36AJC Jacksonville Investments LLC rookieReal EstateMI$10.7M$10.7MJun 23
37Dnx Partners Annex Japan IV, LP rookieFinanceCA$10.6M$20.2MJun 27
38NuTiliti Inc.TechTX$10.5M$10.5MJun 26
39PT Financial Companies LLCFinanceIL$10.5M$10.5MJun 25
40Open Road Impact, Inc. rookieOpenTX$10.4M$30MJun 27
41Zapata Computing Holdings Inc.TechMA$10.1M$17MJun 25
42Sunrise at Bogart, LP rookieReal EstateCA$9.1M$9.1MJun 26
43Forest City Trading Group, LLCOpenOR$9M$9MJun 26
44Fieldlink Ventures, LLC rookieOpenIL$8.9M$30MJun 25
45Corvia Medical, Inc.Bio & HealthMA$8.9M$11.1MJun 25
46PayAmigo, Inc. rookieFinanceFL$8.6M$11.6MJun 25
47Huntington Fermi Fusion, LLC rookieReal EstateTX$8.4M$10MJun 24
48Brij Inc.TechNY$8M$8MJun 25
49Everest Collective, Inc. rookieTechOH$7.3M$7.5MJun 26
50Sungage Financial, LLCOpenMA$7.2M$10MJun 27
51FCTG US Invesco, Inc.OpenOR$7M$7MJun 26
52Northpoint Property Owner, LLC rookieReal EstateFL$6.9M$6.9MJun 26
53Chang Robotics Fund, LP rookieOpenFL$6.8M$6.8MJun 24
54Hetal Retail Inc. rookieTechNY$6.4M$6.4MJun 26
55INSight Capital, LLCFinanceNE$6.3M$50MJun 26
56Metatech HoldingsFinanceIntl$6M$6MJun 24
57RedShift BioAnalytics, Inc.TechMA$5.9M$7.1MJun 26
58Synaptogenix, Inc.Bio & HealthNY$5.5M$5.5MJun 23
59Monona Pines 2 LLC rookieReal EstateWI$5.3M$5.3MJun 27
60Guardare, Inc. rookieTechFL$5.1M$7MJun 23
61Command Zero Inc.TechTX$5M$5MJun 23
62Miramar Lending Group 1, LLC rookieReal EstateCA$5MindefiniteJun 27
63Not Wood, Inc.OpenAZ$5M$5MJun 24
64Seven Ten Management, LLC rookieReal EstateCA$5MindefiniteJun 27
65Maumelle Senior Community, LLC rookieReal EstateMO$4.9M$4.9MJun 26
66Los Angeles Biosciences, Inc. rookieBio & HealthCA$4.9M$5MJun 24
67O'Reilly Wicklow Investors, LLC rookieReal EstateMO$4.7M$4.7MJun 26
68Ubicept, Inc.OpenMA$4.6M$5MJun 24
69Solitario Resources Corp.OpenCO$4.5M$4.5MJun 26
70850 West Side 2 Funding L.P. rookieReal EstateNY$4.3M$4.3MJun 26
711035 State Funding L.P. rookieReal EstateNY$4.3M$4.3MJun 26
72Shuttle Pharmaceuticals Holdings, Inc.Bio & HealthMD$4.2M$4.2MJun 26
73Metatech HoldingsFinanceIntl$4.2M$4.2MJun 24
74East Africa Metals Inc.OpenIntl$4.1M$4.1MJun 25
75Acurx Pharmaceuticals, Inc.Bio & HealthNY$4M$4MJun 27
76Cambridge NC I LLC rookieReal EstateCT$3.8M$4.2MJun 23
77PSO Marlowe Project LP rookieReal EstateGA$3.8MindefiniteJun 24
78Limber Prosthetics, Inc. rookieBio & HealthCA$3.8M$5.3MJun 23
79Rm-bfr LLC rookieReal EstateMN$3.8M$10.3MJun 23
804P Foods, Inc. PBCOpenVA$3.7M$5.4MJun 26
81Othership Inc. rookieBio & HealthIntl$3.7MindefiniteJun 27
82Gulf Port Alabama Building 1, LP rookieReal EstateTX$3.6M$3.6MJun 25
83TrustClarity Inc. rookieTechIL$3.6M$3.9MJun 24
84TPEG Star III QP Investors LLC rookieMain StreetTX$3.6M$7MJun 27
85VoyceMe Inc. rookieTechNC$3.5M$3.5MJun 24
86CHA Northstar Group Holdings, L.P.OpenNY$3.5M$3.5MJun 25
87Post Cypress Partners, LLC rookieFinanceCA$3.5M$3.5MJun 26
88204 Beach 28 Funding L.P. rookieReal EstateNY$3.3M$3.3MJun 26
89Pneuma Respiratory, Inc.Bio & HealthNC$3.3M$3.3MJun 23
90Bodark Investment Group LP rookieBio & HealthTX$3.2M$27.5MJun 23
913803B Computer Drive LLC rookieReal EstateNC$3.2M$3.2MJun 24
92Riley Collective, Inc. rookieTechCA$3.2M$3.2MJun 23
93OSP Rita Holdings LLCOpenNY$3.2M$3.2MJun 25
94SMDD Old Katy Road Office, Ltd rookieReal EstateTX$3.1M$3.1MJun 23
95Sublynk Inc.OpenCO$3.1M$3.1MJun 27
96OSP Rita Management Aggregator LLCOpenNY$3M$3MJun 25
97Open Doors Partners, LLCOpenCA$3M$3MJun 27
98PemPem Inc. rookieOpenIntl$3M$3MJun 23
99Tally Hospitality Investments, LLC rookieReal EstateFL$3M$4.2MJun 27
100Zapata Computing Holdings Inc.TechMA$3M$3MJun 25
101Legacy Vending Fund IV, LLC rookieOpenGA$3M$3MJun 23
102Mount North Capital 3 LLC rookieReal EstateOH$2.9MindefiniteJun 27
103Manzanita Holdings LLC rookieReal EstateWA$2.9M$2.9MJun 24
104Rancho Estrellita LLC rookieReal EstateCA$2.6M$4MJun 24
105Tucson Gardens ALC LLC rookieReal EstateWA$2.5M$2.5MJun 25
106Juniper MF Fund, LLC rookieReal EstateWA$2.5M$14.2MJun 27
107Metatech HoldingsFinanceIntl$2.5M$2.5MJun 24
1088710 Flats Holdings, LLC rookieReal EstateNC$2.5M$2.8MJun 26
109Convexity Scientific Inc.Bio & HealthCT$2.4M$3.5MJun 27
110Sci Partners X - Nj Van Houten LLC rookieFinanceIL$2.4M$2.4MJun 23
111EtiraRX, Inc.Bio & HealthTX$2.4M$4.9MJun 23
112AURA Network Systems, Inc.TechVA$2.3M$2.3MJun 24
113GCP PropCo II LLC rookieReal EstateMT$2.3M$2.3MJun 27
114Delco Partners HoldCo Ltd rookieReal EstateOH$2.2M$2.2MJun 24
115Precision Piping Products Investment, LLC rookieOpenGA$2.1M$16.5MJun 27
116Bonsai Data Solutions Inc. rookieOpenIL$2M$3MJun 26
117Avridh Technologies, Inc.TechCT$2M$2MJun 25
118v.law, LLCTechVA$2M$2MJun 26
119Skeema IncTechCA$2M$2MJun 24
120CRE Loan 2025-1 LLC rookieReal EstateNV$2M$2MJun 23
121LightXcelerate, Inc. rookieTechCA$1.9M$2.5MJun 25
12217 S Broadway Funding L.P. rookieReal EstateNY$1.9M$1.9MJun 26
123Helium Evolution Inc rookieEnergyIntl$1.9M$2.7MJun 24
124IDS Holdco LLC rookieOpenMO$1.8M$1.8MJun 25
125AxoSim, Inc.Bio & HealthLA$1.8M$5MJun 24
126SGR SpotOn LLC rookieReal EstateTX$1.8M$3MJun 24
127Asymmetria Investors III, LLC - Cape Coral (PS) rookieFinanceNE$1.8M$2MJun 24
128OH Strongsville Royalton Rd, LLC rookieOpenOH$1.8M$1.9MJun 23
129Ohana Housing Co.Real EstateNY$1.7M$1.7MJun 24
130Franklins Popcorn Inc rookieMain StreetWA$1.7M$1.7MJun 26
131P1 Trials, Inc. rookieMain StreetWA$1.6M$4MJun 24
132557 Willow Funding L.P. rookieReal EstateNY$1.6M$1.6MJun 26
133KinoTek IncTechME$1.6M$2MJun 27
134Mend Nutrition Inc.OpenNY$1.5M$2MJun 25
135Unspendable Labs Inc.TechDE$1.5M$1.5MJun 27
136Helium Evolution IncEnergyIntl$1.5M$1.5MJun 25
137Ledge Rock Apartments I Buligo LP rookieReal EstateDE$1.5M$20MJun 25
138Salisbury NC Industrial 7 LLC rookieReal EstateNJ$1.4M$3.5MJun 25
139Greenleaf Investment Partners L129, LLC rookieReal EstateGA$1.4M$3.5MJun 27
140FindSpotz Inc.TechWI$1.4M$1.4MJun 25
141Acretrader 263, LLC rookieReal EstateAR$1.3M$1.3MJun 24
142Armilla AI Inc.TechIntl$1.3M$3.5MJun 24
143National Quality Systems, Inc.TechFL$1.3M$2MJun 23
144HEAR2THERE Nexus (01-45) LLC rookieTechTX$1.3M$90MJun 25
145Dallas Country LLC rookieReal EstateGA$1.2M$2.8MJun 27
146Mav Automation Ventures Inc. rookieOpenNV$1.2M$2MJun 25
147RENTDUE Capital Fund 2 LLC rookieOpenUT$1.2MindefiniteJun 27
148Tilled, Inc.TechCO$1.2M$1.5MJun 27
149468 Flushing Funding L.P. rookieReal EstateNY$1.2M$1.2MJun 26
150Firefly Neuroscience, Inc.TechNY$1.2M$2MJun 23
151PARDS Ltd rookieOpenCO$1.1M$3MJun 23
152Western Uranium & Vanadium Corp.OpenIntl$1.1M$2.5MJun 23
153CABU, Inc. rookieOpenCO$1.1M$1.1MJun 27
154Northern Smilodon Energy Inc.OpenIntl$1.1M$4MJun 23
155G&m Cpg SPV, LLC rookieOpenPA$1M$1MJun 23
156LLUV Partners, LLC rookieOpenTX$1M$3MJun 27
157Endolumik, Inc.Bio & HealthWV$1000K$5MJun 26
158Criterion Trail Lake Plaza, LLC rookieReal EstateTX$970K$1.3MJun 27
159Canex Metals Inc.OpenIntl$951K$951KJun 27
160Active Membranes, Inc.OpenCA$913K$913KJun 23
1611600 Escondido LLCReal EstateCA$887K$887KJun 23
162TPEG Star III Investors LLC rookieMain StreetTX$881K$7MJun 27
163GCP PropCo III LLC rookieReal EstateMT$875K$2.5MJun 27
164Mount North Capital 2, LLC rookieReal EstateOH$875KindefiniteJun 26
165Tnemec Co IncMain StreetMO$871K$3MJun 23
166Prestige Stewart Abilene LLC rookieReal EstateTX$871K$871KJun 27
167Food Architects, LLC rookieOpenNJ$850K$850KJun 25
168Open Road Capital Partners, LLC rookieReal EstateIL$800K$800KJun 23
169NatGold Digital Ltd. rookieTechFL$766K$766KJun 23
170Nessa Labs, Inc. rookieTechCO$750K$750KJun 23
171Comstock Inc.EnergyNV$700K$700KJun 23
172USAvioniX Corp rookieTechCA$700K$3MJun 27
173Ohm Health, Inc.Bio & HealthVA$687K$837KJun 23
174Frugal AI Inc. rookieTechIntl$575K$575KJun 25
175Litero Inc. rookieOpenDE$535K$1MJun 25
176Jumpstart Fertility A Series Of Vuvp Fund LLC rookieOpenTX$533K$533KJun 24
177Gaingels Multiverse Computing LLC rookieOpenVT$517K$517KJun 26
178Avol A Series Of Prochain Ventures LLC rookieOpenMO$504K$504KJun 23
179Mancan Wine, LLCOpenOH$490K$500KJun 24
180Pimee Energy Inc.EnergyIntl$485K$485KJun 23
181SpendCare, Inc.OpenTN$467K$817KJun 26
182Tpeg Round Rock Il Investors LLCReal EstateTX$460K$2.5MJun 23
183Pantheon Credit Fund III, LLC rookieMain StreetFL$450K$50MJun 24
184haddy, Inc.OpenFL$450K$2MJun 24
18593X Investments Inc rookieFinanceFL$400K$400KJun 27
18693X Investments Inc rookieFinanceFL$400K$400KJun 27
18793X Investments Inc rookieFinanceFL$400K$400KJun 27
188GEMROI Co rookieMain StreetVA$400K$700KJun 25
189BGO US III Titanium Feeder LP rookieReal EstateNY$383KindefiniteJun 25
190Blaues Licht Films LLC rookieOpenWA$350K$350KJun 26
191Light Wave Holding Company, LLCBio & HealthNY$350K$350KJun 25
192Trophy Boys Dev Ltd Liability Co rookieOpenNY$338K$850KJun 25
193Orestone Mining Corp.OpenIntl$289K$802KJun 25
194Greenpro Capital Corp.Main StreetIntl$260K$260KJun 24
195Xtract One Technologies Inc.OpenIntl$257K$257KJun 23
196Out Partners Fund 1, LP rookieReal EstateDE$252K$3MJun 23
197Oak Ridge Software Pty Ltd rookieTechIntl$250K$250KJun 27
198Tri-lakes Developers, LLC rookieReal EstateIN$250K$800KJun 25
199Irving Resources Inc.OpenIntl$219K$657KJun 23
200BPG Destination Holdings LLC rookieReal EstateVA$216K$25MJun 26
201Series 23-1, a series of StartEngine Private LLC rookieOpenCA$208K$520KJun 26
202Global Prismatic Co rookieTechDE$200K$200KJun 27
203NH Multifamily Fund III, LLC rookieReal EstateMA$200K$6MJun 25
204Micromem Technologies IncTechIntl$175K$379KJun 27
205DataXtrax Inc.TechFL$150K$150KJun 23
206Highland Lending LLC rookieReal EstateMD$150KindefiniteJun 26
207Gaingels Standard Fleet LLC rookieOpenVT$149K$149KJun 27
208Epoch Biotech, LLCTechMA$140K$140KJun 26
2093D-21 LLC rookieOpenMN$125K$10MJun 27
210Blue Vigil LLC rookieOpenVA$125K$1.2MJun 24
211CustomerIQ, Inc. rookieOpenTN$125KindefiniteJun 27
212Stonelake VIII REIT, LLC rookieReal EstateTX$125K$125KJun 27
213Urban Roots Brewery, LP rookieMain StreetCA$125K$1.8MJun 24
214LCD-HHC VA Corvallis, LLC rookieReal EstateGA$124K$125KJun 25
215LCD-HHC VA Kennesaw, LLC rookieReal EstateGA$124K$125KJun 25
216LQD Assets, LLCOpenKY$113KindefiniteJun 23
217Urano Energy Corp.OpenIntl$111K$190KJun 24
218Evidence-Based Practice Institute, Inc.OpenWA$100K$500KJun 25
219Protoqual Learning Systems, LLCTechNV$100K$100KJun 26
220Talli, Inc.OpenSC$100K$300KJun 25
221ML Beltline Industrial LLC rookieReal EstateMN$80K$6.5MJun 24
222WinMoreBD, Inc. rookieTechMD$80K$1.1MJun 24
2237Th SENSE LLC rookieTechWY$75K$3MJun 24
224PlugOp Technologies Inc.EnergyOH$70K$750KJun 25
225YourSpace America QOF III, LLC rookieReal EstateCA$67K$7MJun 23
226License Management Solutions, Inc. rookieOpenNY$60K$700KJun 26
227She's Independent Syndicate 16 LLC rookieFinanceCO$60K$60KJun 27
228Insite Health III A Series Of Vuvp Fund LLC rookieOpenTX$55K$55KJun 24
229Mogotes Metals Inc.OpenIntl$52K$103KJun 24
230Biocognitive Engines, Inc. rookieBio & HealthMA$51K$51KJun 26
231Health Alert, Inc.TechCA$50K$1MJun 24
232NECF Corp rookieMain StreetMA$50K$600KJun 27
233Nexova,inc. rookieTechCA$50K$1MJun 26
234Vamos, Corp. rookieMain StreetCT$38K$100KJun 23
235Beyond The Breath, Inc. rookieTechNY$25K$50KJun 23
236Cellevate Inc. rookieOpenCA$25K$2MJun 26
237OC Sortera Partners 1, LLC rookieOpenGA$25K$3MJun 27
238Torq Resources Inc.OpenIntl$20K$61KJun 23
239REsides, IncMain StreetSC$20K$9.3MJun 25
240Cube Cold Europe Holdings, LLCOpenIntl$1KindefiniteJun 25
241Landshare Holdings LLC rookieReal EstateWY$78indefiniteJun 23