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 36, 2025 (Sep 1–7)

188 companies reported $1.82B in new private raises on Form D in Week 36, 2025 (Sep 1–7). The biggest was BTA 22504 Big Horn LLC, $350M in the Energy League from Texas. Treeline Biosciences, Inc. ($200M) and Overhaul Group, Inc. ($105M) rounded out the top three. The Bio & Health League led all leagues with $409M across 20 raises. Texas topped the state standings with $525M. That is down 16% versus the week before ($2.16B). 115 of the 188 were first-time Form D filers, led by BTA 22504 Big Horn LLC ($350M). In the Fund League, 171 funds reported $11.22B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1BTA 22504 Big Horn LLC rookieEnergyTX$350M$350MSep 3
2Treeline Biosciences, Inc.Bio & HealthMA$200M$250MSep 4
3Overhaul Group, Inc.TechTX$105M$105MSep 2
4Smartfinancial Inc.FinanceTN$100M$100MSep 2
5FCP Fund VI DWG Coinvestment, L.P. rookieReal EstateMD$53.2MindefiniteSep 2
6XO Health Inc. rookieBio & HealthGA$52.2M$60.4MSep 4
7Minnwest CorpFinanceMN$50M$50MSep 5
8Avenzo Therapeutics, Inc.Bio & HealthCA$47.2M$75MSep 5
9Forum Investor at Times Square, LLC rookieReal EstateFL$44M$80MSep 3
10Allocate Holdings Inc.FinanceCA$43.1M$45.7MSep 4
11Ketryx CorpOpenMA$36.1M$37.5MSep 5
12Pylon Labs, Inc.TechCA$31M$31.5MSep 5
13Verbena at Waterview, LP rookieReal EstateTX$27M$27MSep 5
14Daymark Health, Inc.Bio & HealthPA$26M$26MSep 3
15Bally's Chicago, Inc.OpenRI$25.6M$25.6MSep 4
16TP Capital Fund I, LP rookieReal EstateUT$25M$25MSep 4
17Terrapin Coinvestors LP rookieReal EstatePA$24M$24MSep 3
18AgentAI Holdings, Inc. rookieTechCA$22M$67MSep 2
19Trp Coinvest Partners VI (df), LP rookieFinanceMI$21MindefiniteSep 2
20Health Precision Inc.Bio & HealthNY$20M$20MSep 2
21QurAlis CorpBio & HealthMA$20M$24.9MSep 5
22Swan Falls Holdings, LLC rookieReal EstateID$18M$18MSep 4
23CHARM Therapeutics Inc.OpenIntl$17.3M$80.1MSep 3
24Cresilon, Inc.Bio & HealthNY$17.2M$34.8MSep 5
25Ask Parable Inc. rookieTechNY$16.6M$17.3MSep 2

By league

LeagueRaisedRaises
Bio & Health$409M20
Energy$359M7
Tech$325M54
Real Estate$281M34
Finance$232M12
Open$197M52
Main Street$16.7M9

By state

StateRaisedRaises
Texas$525M17
Massachusetts$263M9
California$235M32
Florida$110M16
Tennessee$100M1
New York$98M15
Maryland$66.8M5
Georgia$59.6M5
Minnesota$52.5M3
Pennsylvania$50M3
Rhode Island$30.5M2
International$29.8M17
Utah$26.2M2
Wisconsin$21.2M5
Michigan$21.2M2

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1BTA 22504 Big Horn LLC rookieEnergyTX$350M$350MSep 3
2FCP Fund VI DWG Coinvestment, L.P. rookieReal EstateMD$53.2MindefiniteSep 2
3XO Health Inc. rookieBio & HealthGA$52.2M$60.4MSep 4
4Forum Investor at Times Square, LLC rookieReal EstateFL$44M$80MSep 3
5Verbena at Waterview, LP rookieReal EstateTX$27M$27MSep 5
6TP Capital Fund I, LP rookieReal EstateUT$25M$25MSep 4
7Terrapin Coinvestors LP rookieReal EstatePA$24M$24MSep 3
8AgentAI Holdings, Inc. rookieTechCA$22M$67MSep 2
9Trp Coinvest Partners VI (df), LP rookieFinanceMI$21MindefiniteSep 2
10Swan Falls Holdings, LLC rookieReal EstateID$18M$18MSep 4

Fund League

$11.22B across 171 funds.

#CompanyStateRaisedRaisingFiled
1Vintage X (Flagship) LP rookieNY$3.88BindefiniteSep 4
2Vintage X (Flagship) Offshore SCSp rookieNY$3.13BindefiniteSep 4
3Shenkman Private Credit Insurance Fund I LP rookieIntl$1.22BindefiniteSep 4
4Vintage X (Origin) LP rookieNY$732MindefiniteSep 4
5Atlas Venture Opportunity Fund Ill, L.P. rookieMA$400M$400MSep 4
6K5 HS HoldCo, LLC rookieFL$330M$330MSep 3
7Churchill Junior Capital Opportunities Fund - RP2 - Fund III, L.P. rookieNY$280MindefiniteSep 4
8BlackRock Private Equity Co-Investments 2025 (Lux) SCSp rookieIntl$146MindefiniteSep 2
9Irenic McLaren LLC rookieNY$138MindefiniteSep 2
10Vintage X (Origin) Offshore SCSp rookieNY$85.5MindefiniteSep 4
All 188 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26Barti Software, Inc.TechCA$15.1M$15.1MSep 2
27WooLee IDC I, LP rookieTechNY$15M$15MSep 3
28West End Sponsor Investor, LLC rookieReal EstateCO$13.8M$13.8MSep 2
29Lm Funding America, Inc. rookieTechFL$12.6M$12.6MSep 3
3010000, Inc.OpenCA$12.5M$16MSep 2
31Interchange Insurance LLC rookieFinanceKY$11M$11MSep 4
323LP Strategic Investors LLC rookieOpenWI$10.5M$10.5MSep 2
33Lm Funding America, Inc. rookieTechFL$10.4M$10.4MSep 3
34Bright Harbor Recovery, Inc. rookieTechTX$10M$10MSep 3
35House of Doge Inc. rookieTechFL$10M$10MSep 4
36Vroom, Inc.OpenTX$10M$10MSep 4
37Black Buffalo Inc.OpenIL$9.5M$9.5MSep 2
38Leegen Venture LLCOpenCA$9.4MindefiniteSep 2
39EB Intermediate, LP rookieTechFL$9.3MindefiniteSep 2
40Elea.ai, Inc rookieTechCA$9M$10.6MSep 4
41Hyla SPV II, LLC rookieOpenTX$7.5M$7.5MSep 2
42HQ at Seaport Holdings LLC rookieReal EstateFL$7.4M$10MSep 3
43PeakMetrics, Inc.TechCA$7.2M$8.9MSep 3
44100 City View Buligo LP rookieReal EstateDE$7.1M$24.2MSep 2
45PharmaCyte Biotech, Inc.Bio & HealthNV$7M$7MSep 4
46TNF Pharmaceuticals, Inc.Bio & HealthNY$7M$7MSep 5
47Green Coffee Co Holdings, LLCMain StreetIntl$6.7M$10MSep 2
48West Iris Drive 123 LLC rookieReal EstateMD$6.4M$15MSep 3
49Adapt.com, Inc. rookieTechTX$6.4M$6.4MSep 3
50SKYX Platforms Corp.TechFL$6M$6MSep 5
51Sandstone Pointe TH Investment LLC rookieReal EstateWI$5.6M$15.1MSep 2
52OnsiteIQ Inc.OpenNY$5.2M$6.5MSep 2
53Rivet Tax, Inc. rookieMain StreetCT$5.1M$5.1MSep 3
54Omega Project Co. rookieTechRI$4.9M$8MSep 3
55AI Software Holdings, LLC rookieTechMO$4.8MindefiniteSep 5
56LEADOPTIK Inc.OpenCA$4.6M$5.2MSep 2
57Neuron DC Inc rookieOpenCA$4.5M$20MSep 2
58101 West 72 Funding L.P. rookieReal EstateNY$4.5M$4.5MSep 4
59Wondery Two LLC rookieReal EstateSD$4.2M$4.2MSep 3
60Vega Health Inc. rookieOpenNC$4M$4MSep 3
61Charter Space Technologies, Inc. rookieOpenCA$4M$4MSep 3
62Root Partners I LLC rookieOpenNY$4M$4MSep 5
63Button Labs, Inc. rookieOpenCA$3.8M$5MSep 5
64Red Hills JJI, LLC rookieReal EstateCA$3.6M$20MSep 3
65Dakota Oil & Gas, Inc.EnergyCO$3.6M$7.5MSep 2
66RB Investor V LLC rookieReal EstateGA$3.4M$3.4MSep 2
67Bell GF Partners, LLC rookieReal EstateND$3.3M$3.3MSep 4
68Belmont Park Holdings LLC rookieReal EstateGA$3.1M$5.5MSep 3
69KinCap St Mary's MD, LLC rookieOpenVA$3M$3MSep 2
70Facile Skincare Inc. rookieOpenCA$3M$3MSep 2
71Cariina, Inc.OpenMA$3M$3MSep 2
72Bve Anna Sec Investors LLC rookieReal EstateNY$2.9M$3.2MSep 2
73Youme Healthcare, Inc.TechMD$2.9M$3.5MSep 4
7442 AM Holdings, LLC rookieFinanceNY$2.8M$5MSep 5
75Air Park Sidecar OI LP rookieReal EstateMD$2.7M$2.7MSep 3
76F Street Iron Block, LLC rookieReal EstateWI$2.7M$2.7MSep 3
77House of Doge Inc. rookieTechFL$2.6M$2.6MSep 4
78Burl Concepts, Inc.Bio & HealthCA$2.5M$2.5MSep 4
79Gator Labs Inc.TechOH$2.5M$3MSep 3
80Amsterdam Fund LLC rookieReal EstateMT$2.5M$2.5MSep 5
81Access Optics, Inc. rookieMain StreetOK$2.4M$2.5MSep 2
82Potrero Medical, Inc.Bio & HealthCA$2.3M$5.5MSep 2
83FrostCarbon, Inc. rookieEnergyDE$2.2M$2.2MSep 3
84Aervivo, Inc.TechCA$2.2M$2.2MSep 5
85Botcopy INC. rookieTechCA$2.2M$2.2MSep 4
86AsiaStrategy rookieOpenIntl$2.2M$2.2MSep 2
87House of Doge Inc. rookieTechFL$2.2M$2.2MSep 4
88Elevate Marysville Apts LLC rookieReal EstateWA$2.1M$2.1MSep 4
89Angiocrine Bioscience, Inc.Bio & HealthCA$2.1M$3MSep 5
90Downtown Wausau, LLC rookieReal EstateWI$2.1M$2.1MSep 3
91LB Capital, LLC rookieFinanceNJ$2.1M$3MSep 5
92Datalign Advisory, IncTechMA$2M$2MSep 4
93NoScrubs, Inc.OpenTX$2MindefiniteSep 3
94Welara Capital Partners LLC Series 4 rookieOpenNY$2M$2MSep 3
95Rent Butter, Inc.TechIL$1.9M$4.5MSep 3
96SWC Bluffton LLC rookieReal EstateSC$1.8MindefiniteSep 5
97Circula-AI IncBio & HealthFL$1.7M$2.5MSep 3
98LCP Indy 89th LLC rookieReal EstateCO$1.6M$1.6MSep 4
99Dapt Tech, Inc.TechMD$1.6M$1.9MSep 5
100Autumn Hill LLC rookieOpenFL$1.6M$3MSep 2
101Dev4 LLC rookieBio & HealthTX$1.5M$2MSep 5
102Assumable Technologies Inc. rookieOpenCA$1.5M$1.5MSep 5
103Wyoming Reserve Opportunity Zone Fund CorpMain StreetWY$1.5M$115MSep 2
104Whitefish Park DST rookieReal EstateMN$1.4M$2.6MSep 3
105Tabitha Land LLC rookieReal EstateNC$1.4M$1.4MSep 4
106FF Asset Fund 2, LLC rookieReal EstateTX$1.3M$3MSep 3
107SC Decatur LLC rookieOpenCA$1.3M$2.2MSep 3
108Literal Technologies, Inc. rookieTechUT$1.2M$1.5MSep 2
109NatGold Digital Ltd.TechFL$1.2M$1.2MSep 2
110Blue Gate Management, LLCReal EstateNC$1.2M$1.2MSep 5
111LITA Technologies Inc. rookieTechDE$1.1M$6MSep 3
112Newcase, Inc. rookieTechMA$1.1M$1.1MSep 2
113NightWare, IncBio & HealthMN$1.1M$3MSep 2
114Apptronik 2025 A Series Of Master Fund I LLC rookieOpenTX$1.1M$1.1MSep 3
115Shush Inc.TechTX$1MindefiniteSep 5
116APS Tech LLC rookieEnergyCT$1M$1MSep 5
117BasiGo Inc.OpenDE$1M$3MSep 5
118Japan Gold Corp.OpenIntl$992K$992KSep 4
119MSH Merritt Island Fund I, LLC rookieFinanceOH$980K$980KSep 4
120Sunland America, Corp. rookieEnergyDE$895K$2MSep 4
121Lss In-n-out LLC rookieReal EstateCO$875K$6MSep 2
122Pasadena Freeway Warehouse, LLC rookieReal EstateTX$850K$870KSep 2
123Woodford Partnership 85, LLC rookieEnergyTX$825K$1.4MSep 3
124Gaingels Kin Insurance LLC rookieOpenVT$821K$821KSep 2
125Skyview EB5 Fund LP rookieReal EstateAZ$800K$73.4MSep 3
126Frequency Exchange Corp.Bio & HealthIntl$675K$675KSep 4
127Moat Metrics, Inc.TechWA$650K$3MSep 4
128Generations Capital III, LLC rookieFinanceLA$565KindefiniteSep 5
129Norsemont Mining Inc.OpenIntl$558K$558KSep 2
130Origin Medical Systems, Inc.TechMA$550K$750KSep 4
131Hi & Mighty LLCOpenIN$535K$600KSep 5
132HomeInheritance Inc rookieReal EstateDE$530K$530KSep 4
133Enhanced Fusion Technologies L.L.C. rookieBio & HealthVA$480K$640KSep 4
134Dumu Holdings, LLC rookieOpenGA$450K$450KSep 5
135Toasted., LLC rookieTechWA$450K$450KSep 5
136Headwater Gold Inc.OpenIntl$443K$443KSep 2
137El Ventures III LLC rookieFinanceWY$406K$2.5MSep 3
138Global Impact Accelerator Corp rookieMain StreetGA$405K$9.9MSep 4
139Pad Vegas rookieOpenNV$400K$4MSep 4
140Pretty Pretty Drinks CorpMain StreetWA$400K$1MSep 5
141Musaffa, Inc.TechNY$376K$5MSep 4
142BDP Fund I LLC rookieOpenNY$375K$1.5MSep 4
143BT Lawrence Student Housing DST rookieReal EstateWI$350K$26.5MSep 2
144Series 57-1, a series of StartEngine Private LLC rookieOpenCA$344K$1MSep 4
145Freeman Gold Corp.OpenIntl$326K$724KSep 2
146Brain Bioenergetics Inc. rookieOpenCA$310K$5MSep 4
147Mission Media AI Inc. rookieTechCT$300K$500KSep 4
148LaserMotive, Inc.OpenWA$260K$3MSep 4
149Tap Systems Inc.TechCA$225K$2MSep 2
150Fluent Corp.OpenFL$210K$210KSep 4
151January Rose Inc. rookieOpenMI$200K$400KSep 5
152WBS Unit 3, LLC rookieMain StreetTX$200K$750KSep 4
153Scottie Resources Corp.OpenIntl$200K$200KSep 2
154Pavewise, Inc.TechDE$180K$180KSep 4
155House of Doge Inc. rookieTechFL$175K$175KSep 4
156Medifoodz, Inc. rookieBio & HealthFL$150K$2MSep 2
157NeuroFine Corp.Bio & HealthFL$125K$5MSep 3
158Gaingels Wild West Systems LLC rookieOpenVT$116K$116KSep 5
159Rocket Doctor AI Inc.TechIntl$114K$285KSep 3
160Norsemont Mining Inc.OpenIntl$109K$109KSep 3
161Mediphant CorpTechTX$100K$1MSep 3
162Streaque, Inc. rookieTechCA$100K$100KSep 4
163Series 45-1, a series of StartEngine Private LLC rookieOpenCA$96K$350KSep 2
164Atmos Forces Corp. rookieOpenNV$75K$30MSep 3
165Blacksilver Ltd rookieMain StreetCA$75K$75KSep 2
166Toro Silver Corp.OpenIntl$71K$71KSep 2
167Mismi Foods LLC rookieTechMA$60K$500KSep 2
168All In Nutrition LLC rookieMain StreetMA$59K$2MSep 5
169Acceleware Ltd. rookieOpenIntl$55K$164KSep 3
170Community Commercial Services, Inc. rookieFinanceNH$50K$4MSep 5
171SBD Technologies, Inc. rookieTechME$50K$5MSep 2
172Arc Interactive Inc. / DE rookieTechCA$44K$44KSep 5
173Bankers Settlement Services of Southwest Pennsylvania, LLCFinancePA$40K$40KSep 4
174St. James Gold Corp.OpenIntl$40K$40KSep 4
175Starteryou, Inc. rookieTechNY$35K$100KSep 4
176TACTICAL LASER DEFENSE SYSTEMS Inc. rookieTechOR$35K$50KSep 2
177NYSE Star Corp. rookieTechDE$32K$32KSep 4
178TACTICAL LASER DEFENSE SYSTEMS Inc. rookieTechOR$25K$50KSep 2
179VECTORMAX CorpTechNY$20K$30MSep 5
180American Copper Development Corp rookieEnergyIntl$16K$16KSep 3
181BuildFetch Inc. rookieTechWY$15K$15KSep 3
182Firstpeel Inc.TechCA$15K$125KSep 4
183Stallion Uranium Corp.OpenIntl$15K$34KSep 4
184TACTICAL LASER DEFENSE SYSTEMS Inc.TechOR$15K$50KSep 3
185Credtent, Inc.TechCA$12K$1.5MSep 2
186First Andes Silver Ltd.OpenIntl$7K$13KSep 5
187Mehr Vc A Series Of Master Fund I LLC rookieOpenTX$5KindefiniteSep 2
188Surebion, Inc. rookieBio & HealthCA$35$35Sep 5