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 31, 2025 (Jul 28 – Aug 3)

203 companies reported $2.67B in new private raises on Form D in Week 31, 2025 (Jul 28 – Aug 3). The biggest was Empery Digital, Inc., $501M in the Open League from Texas. Upexi, Inc. ($200M) and MapLight Therapeutics, Inc. ($188M) rounded out the top three. The Open League led all leagues with $1.18B across 65 raises. Texas topped the state standings with $738M. That is up 9% versus the week before ($2.44B). 129 of the 203 were first-time Form D filers, led by Revenant Energy Holdings LLC ($161M). In the Fund League, 210 funds reported $3.64B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Empery Digital, Inc.OpenTX$501M$501MAug 1
2Upexi, Inc.OpenFL$200M$200MJul 29
3MapLight Therapeutics, Inc.Bio & HealthCA$188M$372MJul 28
4Revenant Energy Holdings LLC rookieEnergyTX$161M$161MJul 29
5Motive Technologies, Inc.TechDE$150M$150MJul 30
6Blockratize Inc.TechNY$135M$258MAug 1
7Hadrian Automation, Inc.OpenCA$110M$161MJul 28
8Positron AI, Inc. rookieOpenNV$75.1M$76.2MJul 28
9Equity Bancshares IncFinanceKS$75M$75MJul 29
10I-Pulse Inc.TechIntl$72.5M$72.5MJul 31
11Aerones Holdings Inc. rookieOpenCA$62.3M$62.3MJul 31
12INNOVATE Corp. rookieOpenNY$51.1M$51.1MJul 30
13Equip Health, Inc.Bio & HealthCA$46.6M$46.6MJul 31
14Ga Drilling Holding, Co. rookieEnergyDE$44.6M$44.6MJul 31
15Middleburg GP Fund III, LP rookieReal EstateVA$41M$100MJul 28
16White Water Investor LLC rookieReal EstateMA$24.5M$24.5MJul 31
17Mirvie, Inc. rookieOpenCA$23.7M$30MAug 1
18Hemanext Inc.Bio & HealthMA$21.7M$21.7MJul 31
19OneAdvisory, Inc.TechFL$18M$18MJul 29
20Promptfoo, Inc.OpenCA$17.5M$18.4MJul 29
21Tap Root Holdings, LLC rookieReal EstateSC$16.8M$16.8MJul 29
22Agent Sport, Inc. rookieTechMN$16.5M$16.8MJul 28
23Sterling ASU II Class A, LLC rookieReal EstateTX$16.3M$16.3MJul 28
24Nexus Energy Partners LLC rookieEnergyCO$16.2M$16.2MJul 31
25Mega Matrix Inc rookieOpenIntl$16M$16MJul 31

By league

LeagueRaisedRaises
Open$1.18B65
Tech$497M41
Bio & Health$294M12
Real Estate$291M56
Energy$252M7
Finance$120M12
Main Street$32.9M10

By state

StateRaisedRaises
Texas$738M23
California$572M31
Florida$279M23
New York$224M13
Delaware$201M8
International$123M18
Kansas$75.2M2
Nevada$75.2M2
Massachusetts$66.6M6
Colorado$48.4M10
Virginia$46.1M3
Minnesota$29.2M4
South Carolina$27.8M4
Ohio$26.6M5
Michigan$24.6M7

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Revenant Energy Holdings LLC rookieEnergyTX$161M$161MJul 29
2Positron AI, Inc. rookieOpenNV$75.1M$76.2MJul 28
3Aerones Holdings Inc. rookieOpenCA$62.3M$62.3MJul 31
4INNOVATE Corp. rookieOpenNY$51.1M$51.1MJul 30
5Ga Drilling Holding, Co. rookieEnergyDE$44.6M$44.6MJul 31
6Middleburg GP Fund III, LP rookieReal EstateVA$41M$100MJul 28
7White Water Investor LLC rookieReal EstateMA$24.5M$24.5MJul 31
8Mirvie, Inc. rookieOpenCA$23.7M$30MAug 1
9Tap Root Holdings, LLC rookieReal EstateSC$16.8M$16.8MJul 29
10Agent Sport, Inc. rookieTechMN$16.5M$16.8MJul 28

Fund League

$3.64B across 210 funds.

#CompanyStateRaisedRaisingFiled
1Vy Space III, L.P. rookieIntl$510MindefiniteJul 28
2Hayfin AZ European Direct Lending Fund LP rookieIntl$350MindefiniteAug 1
3Amanah Capital (AmCap) UK rookieIntl$230M$575MAug 1
4Silver Creek Manufactured Housing Communities, LLC rookieWA$211MindefiniteJul 30
5Dharana Fund II, L.P. rookieIntl$198M$250MJul 28
6Aquatine VI International Ltd. rookieIntl$175M$700MJul 31
7GHK RBS Co-Investment Vehicle LP rookieCT$160M$160MAug 1
8Ares Infrastructure Secondaries (M) LP rookieCT$150MindefiniteJul 31
9FT Vest Total Return Income Fund: Series B2 rookieWI$143MindefiniteAug 1
10Fremman 2 MM Co-Investment 3 Salus SCSp rookieIntl$113MindefiniteJul 30
All 203 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Snif-snax Hnw Investors, LLC rookieOpenFL$15.6M$15.6MJul 29
27Natel Energy Holdings, Inc. rookieEnergyCA$15.4M$16.4MJul 29
28Stellar Equity Promote JV 1, LLC rookieReal EstateUT$15M$15MJul 28
29First Century Bancorp.FinanceGA$15M$15MJul 31
30Eikonoklastes Therapeutics, Inc.Bio & HealthOH$13.6M$15.8MJul 29
31Calistoga Farms LLC rookieReal EstateMO$12.4M$15MJul 29
32Molecule Software, Inc. rookieTechTX$11.9M$11.9MJul 30
33Drone Volt S.A. rookieTechIntl$11.7M$11.7MJul 29
34TLA DPG Holdings LLC rookieReal EstateMI$11.2M$11.2MJul 30
35Elite 101 LLC rookieReal EstateNY$11M$11MJul 31
36D&D Pharmatech Inc. rookieBio & HealthIntl$10.8M$10.8MAug 1
37DevvStream Corp. rookieEnergyCA$10M$300MJul 28
38Innova Vascular, Inc.TechCA$10M$10MJul 30
39Ascent Holding Co.FinanceCA$10M$10MAug 1
40Tecovas, Inc.Main StreetTX$10M$10MJul 30
41Tap Root Common, LLC rookieReal EstateSC$9.6M$9.6MJul 29
42florrent, Inc.TechMA$9.5M$9.5MAug 1
43EH ZO Holdings 3 LLC rookieFinanceCA$9.1M$9.1MJul 30
44228 Labs, Inc. rookieOpenCO$8.8M$8.8MJul 28
45Viking Partners 8044 Holdings, LLC rookieReal EstateOH$8.8M$8.8MJul 30
46FC Jacaranda JV, LLC rookieReal EstateFL$8.5M$8.8MJul 28
47GVP Summit & Shore Portfolio, LLC rookieReal EstateCA$8.1M$38MAug 1
48Arkenstone Defense, Inc. rookieTechCA$8M$8MJul 29
49Billy Reid, Inc.Main StreetAL$8M$11MJul 31
50Iron Crest, LLC rookieOpenWI$7.8M$20.4MJul 30
51Cream Co. LLCMain StreetCA$7.8M$13.3MAug 1
52All Pro Peltier Reserve LLLP rookieReal EstateCO$7.7M$16.8MJul 31
53Sol Haus Investors LLC rookieReal EstateCA$7.5M$7.5MAug 1
54Welara Capital Partners LLC Series 3 rookieOpenNY$7.5M$7.5MJul 29
55Billd Holdings, Inc.OpenTX$7.5M$8.1MAug 1
56Miedzi Copper Corp.OpenIntl$7.2M$7.2MJul 29
57Vanamor Citrus Run Investments L.P. rookieReal EstateCA$7.1M$7.1MJul 31
58Entrada AI, Inc. rookieTechFL$6.5M$6.5MJul 29
59Knox Systems, Inc. / DE rookieTechTX$6.4M$6.4MJul 30
60FC Butterfield JV, LLC rookieReal EstateFL$6.4M$6.8MJul 28
61Mesa Residential Co LLC rookieOpenCA$6.3MindefiniteJul 28
62Hipp Health Inc. rookieTechCA$6.2M$6.6MJul 31
63Vivid Group Holdings, Inc. rookieOpenNY$6.1M$6.1MJul 29
64CryOSA, Inc.Bio & HealthMN$6M$15MAug 1
65NuCare Madison DST rookieReal EstateMN$5.5M$5.7MJul 29
66All Pro Wicklow LLLP rookieReal EstateCO$5.2M$5.2MJul 31
67GameSquare Holdings, Inc.OpenTX$5.1M$5.1MJul 30
68Luxe Concierge Home Services, LLC rookieOpenFL$5.1M$12.5MJul 31
69Francis Aspen Investments, LLC rookieReal EstateTX$4.9MindefiniteJul 29
70Fresenius Medical Care Newark, LLC rookieBio & HealthMA$4.9M$4.9MJul 31
713ICE Enterprises Inc.OpenPA$4.8M$7.5MJul 28
72Ascendco Health, Inc. rookieTechIL$4.8M$4.8MJul 28
73Grotto Inc. rookieOpenNY$4.7M$4.7MJul 29
74Senior Housing DST 11 rookieReal EstateCA$4.4M$43MJul 31
75Merion Golf Villas, L.P. rookieReal EstatePA$4.4M$4.4MJul 31
76200 Brothers Blvd LLC rookieReal EstateCO$4.3M$5MJul 31
77WF Good Latimer, LLC rookieReal EstateNC$4.3M$4.3MJul 29
78Clear Current Technologies Inc. rookieEnergyCT$4.3M$4.3MJul 31
79Local Hero Holdings, Inc. rookieOpenCO$4.2M$5.5MJul 28
80Catalyst OrthoScience IncOpenFL$4.1M$6MJul 31
81Commodore International Corp rookieTechDE$4.1M$5MJul 30
82NSC Ankeny I, LLC rookieReal EstateMI$3.9M$7.4MJul 30
83Collision Partners, LLC rookieOpenFL$3.9M$3.9MJul 29
84Iron Bridge Sidecar OI LP rookieReal EstateMD$3.7M$3.7MJul 30
85Sha Dpg Holdings LLC rookieReal EstateMI$3.5M$3.5MJul 28
86Argyle One, Inc. rookieOpenNY$3.2M$3.2MJul 29
87Blue Striped Shirt LLC rookieReal EstateMA$3.2M$3.2MJul 28
88NextgenID, Inc.TechVA$3.1M$6.8MJul 30
89Byod Inc. rookieTechMI$2.9M$3.9MAug 1
90RTB Holdings, LLC rookieReal EstateTN$2.9M$5MJul 30
91Great Elm Group, Inc. rookieFinanceFL$2.9M$2.9MAug 1
92Aperio Systems, Inc.TechMA$2.9M$7MJul 28
93Berry Growth WDLS 1 LLC rookieFinanceCA$2.8M$4.1MJul 31
94Orchard Park Apartments Owner LLC rookieReal EstateCA$2.8M$2.8MJul 31
95Epcon Oak Grove, LLCReal EstateOH$2.8M$2.8MJul 30
96Spacex A Series Of Vuvp Fund LLC rookieOpenTX$2.5M$2.5MJul 31
97One Condado LLC rookieReal EstatePR$2.4MindefiniteJul 29
98Lucem Health, Inc.TechNC$2.3M$4.3MJul 31
99Atmosphere DC Holdings LLC rookieOpenCA$2.2M$2.2MJul 30
100DAM42, LLC rookieReal EstateCA$2M$2.1MJul 31
101KinCap District, LLC rookieOpenVA$2M$2MAug 1
102Conamix Inc.TechNY$2M$4.1MJul 29
103Field & Stream Pet Food Company, LLC rookieMain StreetMO$2M$4MJul 29
104Grove at Magnolia Meadows Debt Investors LLC rookieReal EstateTX$2M$9MJul 30
105Boichik Bagels Inc.OpenCA$1.9M$3.5MJul 30
106Belli CorpTechMI$1.9M$2.3MJul 29
107Gleamery Inc.OpenOR$1.9M$2.5MAug 1
108Prairie Trail Farms, LLC rookieReal EstateIA$1.8M$1.8MAug 1
109Travel Curious Group Inc.Main StreetFL$1.8M$4MJul 29
110Ariso Intelligence, Inc. rookieTechNC$1.6M$2MJul 31
111Colt Ranch & Land Partners 3, L.P. rookieReal EstateTX$1.6M$1.6MAug 1
112Ironwood Ventures LLCMain StreetNJ$1.6M$1.6MJul 30
113Spokiynyy Svitanok Inc rookieFinanceFL$1.5M$1.5MAug 1
114Acretrader 264, LLC rookieReal EstateAR$1.4M$1.4MJul 29
115Team Wildfire Inc.TechCO$1.4M$1.7MJul 29
116HIG Holdings, LLCFinanceTX$1.4M$1.4MJul 31
117Spacex II A Series Of Vuvp Fund LLC rookieOpenTX$1.4M$1.4MJul 31
118Scienture Holdings, Inc.Bio & HealthNY$1.3M$3MAug 1
119Scenius Capital Holdings LLC rookieOpenFL$1.3M$1.3MJul 30
120Dockside Acquisition LLC rookieReal EstateSC$1.2M$5MJul 31
121Mason Group One LLC rookieReal EstateMN$1.2M$1.2MJul 28
1222515 Altamesa LLC rookieReal EstateTX$1.2M$7MJul 28
1232800 W Pioneer Partners LLC rookieReal EstateTX$1.2M$4.3MJul 30
124Webmob, LLC rookieTechDC$1.1M$5MJul 29
1259601 Greenfield Investors LLC rookieReal EstateMI$1.1M$1.6MAug 1
126GroundGame.Health, inc.TechFL$1M$8MJul 30
127Lqwd Technologies Corp.OpenIntl$989K$989KJul 30
128Root & Rise, LLC rookieMain StreetIntl$790K$1MJul 30
129Notre Dame MH, LLC rookieReal EstateOH$785K$785KJul 28
130Pet Krewe Inc.Main StreetLA$778K$3MJul 29
131Shiplab, Inc. rookieTechNC$750K$3MJul 31
132Blackfish ROW 1700 LLCReal EstateUT$724K$724KJul 28
133Oasis at Ballast Point LPReal EstateFL$706K$3MJul 31
134Lytng, LLCOpenCA$705K$1MJul 29
135AHG Co-Invest LP rookieReal EstateNY$700K$10MJul 30
136Wren Opportunity Fund LLC rookieFinanceOH$700K$3MJul 31
137Dunya Analytics, PBCTechDE$676K$1MJul 31
138RealWear,Inc.TechWA$650K$6MJul 29
139Arkenstone Defense, Inc. rookieTechCA$600K$4MJul 29
140Lindiana Capital Debt Fund LLC rookieReal EstateTX$600K$10MJul 31
141HH OH SD Medical Portfolio LLC rookieReal EstateTX$568K$568KJul 28
142HH OH SD Medical Portfolio LLC rookieReal EstateTX$568K$568KJul 28
143Bird River Resources Inc.OpenIntl$552K$552KAug 1
144Spring Companies HoldCo I, LLC rookieOpenNY$550K$550KJul 31
145Sumitomo Mitsui Financial Group, Inc.FinanceIntl$535K$535KJul 28
146Aeropost Holding CorpOpenFL$500K$10MAug 1
147Elp REIT B1, LLC rookieReal EstateCA$500K$500KJul 31
148Receivabull Inc.TechDE$500K$1MJul 28
149Sharpe Shooter Investco, LLC rookieFinanceFL$500K$20MJul 31
150Shop & Shout Ltd.OpenIntl$500K$1MJul 31
151Teamblind Inc.TechCA$468K$2MJul 30
152Origami Surgical Inc.OpenNJ$450K$1000KJul 31
153AX DG St. Louis, DST rookieReal EstateNY$423K$42.5MJul 30
154Inseer Inc.OpenIA$420K$420KJul 31
155JZ CA Huntington Breeze LLC rookieReal EstateGA$400K$1MJul 29
156RealOne Fixed Income LLC rookieReal EstateTX$400K$5MJul 28
157Ocean Approved, Inc.OpenME$380K$1MJul 28
158Sterling Metals Corp.OpenIntl$365K$625KAug 1
159American Tungsten Corp.OpenIntl$359K$359KAug 1
160Gaingels Ursa Major 2025 LLC rookieOpenVT$357K$357KAug 1
161TDG Gold Corp.OpenIntl$329K$329KJul 29
162Harvest Gold CorpOpenIntl$318K$826KAug 1
163Gagnon-Kennedy Vineyards, LLCOpenMO$300K$1MJul 28
164Trendex Inc. rookieTechDE$280K$750KAug 1
165Open Doors Partners, LLCOpenCA$270K$270KJul 28
166Bonsai Companies, LLCTechCO$250K$5MJul 28
167Creek Culture LLC rookieOpenSC$250K$2MAug 1
168MetabolicWise LLC rookieTechDE$250K$1MJul 30
169Bizi Inc. rookieTechFL$250K$250KAug 1
170Smoky Hill River Productions, LLC rookieOpenKS$248KindefiniteJul 28
171Gaingels Starlab Space LLC rookieOpenVT$246K$246KJul 31
172Bird River Resources Inc.OpenIntl$229K$229KAug 1
173Deglazed, LLC rookieTechWA$225K$1MJul 28
174Scenius ESIT Holdings LLC rookieOpenFL$225K$225KJul 30
175Jupiter Biomedical Research, Inc.Bio & HealthFL$221K$500KJul 29
176Southern Silver Exploration CorpOpenIntl$218K$380KJul 31
177Taranis Resources IncOpenCO$218K$520KJul 28
178Sphinx Health Solutions Corp. rookieOpenDE$200K$2MAug 1
179Express Hard Money LPReal EstateMI$193KindefiniteAug 1
180Gaingels OpenLayer LLC rookieOpenVT$186K$186KJul 31
181Maepl Home, Inc. rookieOpenOR$160K$400KJul 28
182BestPractice Holdings, LLC rookieBio & HealthAL$150K$250KJul 31
183Drycraft, LLC rookieMain StreetNV$150K$300KAug 1
184Spokiynyy Svitanok Inc rookieFinanceFL$150K$150KAug 1
185Von & Ren Industries Fund I LLC rookieReal EstateFL$150K$1.6MJul 28
186ASV Investments III LLC rookieOpenPA$140K$140KJul 31
187Edenesque, Inc.OpenNY$120K$500KAug 1
188Gaingels Renofi LLC rookieOpenVT$113K$113KAug 1
189DES Storage Income Fund LLC rookieReal EstateTX$100K$20MJul 30
190MC WH Investors LLC rookieReal EstateTX$100K$7MAug 1
191Prosperous Robotics Group, Inc. rookieBio & HealthSD$90K$660KJul 30
192NatBridge Resources Ltd.EnergyIntl$85K$85KJul 29
193Taifin, Co. rookieTechWA$80K$120KJul 31
194Majorly, Inc.TechCO$76K$220KAug 1
195Poolhouse Technologies Ltd rookieMain StreetWY$70K$100KJul 28
196Covenant Collective Holdings, Inc. rookieTechTX$50KindefiniteAug 1
197Zephyr Minerals Ltd.OpenIntl$40K$120KJul 28
198Equidefi Ltd.TechFL$34K$5MAug 1
199Prow Co.OpenCA$26K$2.1MAug 1
200Gaingels YieldStreet LLC rookieOpenVT$18K$18KJul 30
201BHM MRI Radiology, LLC - Series C rookieBio & HealthAL$6K$6KJul 31
202Rapid Learning Cycles, Inc. rookieOpenWA$100$100Jul 31
203Tesseracta, Inc. rookieTechCA$80$80Jul 28