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 37, 2025 (Sep 8–14)

238 companies reported $2.70B in new private raises on Form D in Week 37, 2025 (Sep 8–14). The biggest was BETA Technologies, Inc., $300M in the Tech League from Vermont. Supabase, Inc. ($202M) and CleanCore Solutions, Inc. ($175M) rounded out the top three. The Tech League led all leagues with $885M across 68 raises. New York topped the state standings with $395M. That is up 48% versus the week before ($1.82B). 133 of the 238 were first-time Form D filers, led by Sweet Grass-Equus II, L.P. ($155M). In the Fund League, 193 funds reported $3.37B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1BETA Technologies, Inc.TechVT$300M$500MSep 12
2Supabase, Inc.TechDE$202M$202MSep 8
3CleanCore Solutions, Inc.OpenNE$175M$175MSep 12
4Sweet Grass-Equus II, L.P. rookieReal EstatePA$155M$155MSep 10
5GS Finance Corp.FinanceNY$126M$126MSep 9
6DeFi Development Corp.FinanceFL$124M$124MSep 8
7Wugen, Inc.Bio & HealthMO$109M$163MSep 8
8Horizon Bancorp Inc /in/FinanceIN$100M$100MSep 12
9UM Capital LLCEnergyWY$100M$100MSep 8
10Clay Labs Inc.OpenNY$100M$100MSep 10
11Galvanize Therapeutics, Inc.Bio & HealthCA$96.1M$141MSep 11
12Diana Health, Inc.Bio & HealthNY$55.4M$55.4MSep 8
13ProrataAI, Inc.TechCA$40M$40MSep 12
14Centavo Inc.TechFL$36M$36MSep 11
15Island Crest ALC Holdings LLC rookieReal EstateWA$35.2M$35.2MSep 11
16OmniAb, Inc. rookieBio & HealthCA$30M$30MSep 10
17Highbeam, Inc./deTechNY$29.2M$29.2MSep 10
18RegScale, Inc.TechVA$27.4M$27.4MSep 11
19FC North Bay Land JV, LLC rookieReal EstateFL$27.4M$29.9MSep 10
20Mascoma Mutual Financial Services CorpFinanceNH$25M$25MSep 9
21HiveWatch, Inc. rookieTechCA$25M$25MSep 12
22Immuneering CorpBio & HealthMA$25M$25MSep 9
23Octane Lending, Inc.OpenNY$24.5M$24.5MSep 9
24VR 2025 Kyle Limited Partnership rookieReal EstateIntl$24.2MindefiniteSep 10
25Ensho Therapeutics, Inc.Bio & HealthNY$22.5M$22.5MSep 12

By league

LeagueRaisedRaises
Tech$885M68
Real Estate$463M55
Finance$418M22
Open$408M50
Bio & Health$373M21
Energy$113M8
Main Street$38.1M14

By state

StateRaisedRaises
New York$395M20
California$311M25
Vermont$302M5
Delaware$256M11
Florida$201M11
Pennsylvania$184M7
Nebraska$184M2
Missouri$119M4
Indiana$103M3
International$102M23
Wyoming$100M1
Washington$52.9M9
Oklahoma$48.6M3
Virginia$47.4M5
Texas$46.7M21

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Sweet Grass-Equus II, L.P. rookieReal EstatePA$155M$155MSep 10
2Island Crest ALC Holdings LLC rookieReal EstateWA$35.2M$35.2MSep 11
3OmniAb, Inc. rookieBio & HealthCA$30M$30MSep 10
4FC North Bay Land JV, LLC rookieReal EstateFL$27.4M$29.9MSep 10
5HiveWatch, Inc. rookieTechCA$25M$25MSep 12
6VR 2025 Kyle Limited Partnership rookieReal EstateIntl$24.2MindefiniteSep 10
7California Naturals, Inc. rookieOpenCA$21M$21MSep 9
8Atolio, Inc. rookieTechCO$20.8M$29MSep 8
9Equatic Inc. rookieTechCA$17.8M$21.2MSep 10
10VR 2023 Wurzbach II Limited Partnership rookieReal EstateIntl$17.1MindefiniteSep 10

Fund League

$3.37B across 193 funds.

#CompanyStateRaisedRaisingFiled
1Bell Partners Growth & Income Fund, L.P. rookieNC$500M$1.44BSep 12
2Manatee Cove Partners EMD Fund, L.P. rookieMA$500M$500MSep 11
3Wilshire Mammoth Fund LtdIntl$402MindefiniteSep 8
4SRP Investors Fund Echo, L.P. rookieTX$196MindefiniteSep 10
5Altimeter Adirondack Fund I, L.P. rookieMA$149M$149MSep 8
6AQR Flex 1 Series LLC - Series C4 rookieCT$100MindefiniteSep 11
7Durational Consumer SPV V, LP rookieNY$85.4MindefiniteSep 12
8EcoEnterprises Fund IV, L.P. rookieIntl$84.2M$150MSep 12
9Rochefort Divergent Equity Co-Investment Fund LP rookieDE$82.4MindefiniteSep 10
10Credit Opportunities 2024 Offshore SICAV-RAIF S.C.Sp. rookieIntl$61.7MindefiniteSep 10
All 238 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26AGIF I Investors, LLCReal EstateOK$22.5MindefiniteSep 12
27California Naturals, Inc. rookieOpenCA$21M$21MSep 9
28Cypher Games Inc.TechDE$21M$25MSep 9
29Atolio, Inc. rookieTechCO$20.8M$29MSep 8
30Equatic Inc. rookieTechCA$17.8M$21.2MSep 10
31VR 2023 Wurzbach II Limited Partnership rookieReal EstateIntl$17.1MindefiniteSep 10
32Paladin Drones Inc.TechTX$17M$18.1MSep 9
33Parker Glen, LP rookieReal EstateDE$16.5M$19MSep 8
34Clear Skye Inc.TechCA$16.1M$17.1MSep 12
35Tidal Cyber Inc.TechVA$15.9M$15.9MSep 12
36AGIF I Partners, LLCReal EstateOK$15.5MindefiniteSep 12
37Enlaza Therapeutics, Inc.Bio & HealthCA$15M$15MSep 11
38Nocera, Inc.OpenIntl$13.5M$13.5MSep 12
39VR A 2025 Kyle Limited Partnership rookieReal EstateIntl$13MindefiniteSep 10
40Datawizz Inc.TechCA$12.9M$12.9MSep 12
41Clerq Inc.TechNY$12M$12MSep 12
42GHC Springfield-Ozark, LLC rookieReal EstateOK$10.6M$10.6MSep 8
43Highlands at Fairhope Village Holdings LLC rookieReal EstateAL$10.4M$10.4MSep 8
44PointsVille, Inc. rookieTechPA$10M$10MSep 9
45SynXGlobal Inc.Main StreetGA$10M$10MSep 11
46VR A 2023 Wurzbach II Limited Partnership rookieReal EstateIntl$9.2MindefiniteSep 10
47SSH Building & Facility Services LLC rookieOpenPA$9.2M$10MSep 12
48Bader MH 3700 LLC rookieReal EstateMN$8.9M$12MSep 11
49MRES Four Winds Holdings, LLC rookieReal EstateNE$8.9M$10MSep 11
50Bond Street Investment Trust, Inc.Real EstateSC$8.4M$150MSep 9
51Vaxess Technologies, Inc.Bio & HealthMA$7.9M$10MSep 10
52ECA Alternative Asset Investments SCoopSA rookieFinanceIntl$7.1M$134MSep 8
53Benefitbay Inc.TechMO$7M$8MSep 12
54Journey Rewards Inc.Main StreetNY$7M$8MSep 8
55Thurlow Veterinary Services Inc.OpenIL$7MindefiniteSep 8
56Alexander Capital Ventures LLCFinanceNJ$6.4M$6.4MSep 8
57Doughy Inc. rookieOpenCA$6.1M$6.6MSep 10
58Flamingo Venture Holdco LLC rookieReal EstateIL$6.1M$6.1MSep 8
59Helium Evolution IncEnergyIntl$6M$6MSep 9
60Mercatus SBI Fund I, LLC rookieReal EstateUT$5.8M$15MSep 9
61ATSAW Pleasant Valley, LP rookieReal EstateWA$5.7M$5.7MSep 12
62Pacific Life Insurance CoFinanceCA$5.6MindefiniteSep 12
63Verticus Solutions IncMain StreetPA$5.6MindefiniteSep 8
64Maywood Racquet Holdings LLC rookieOpenNJ$5.5MindefiniteSep 8
65Energy Domain, LLCEnergyTX$5M$5MSep 11
66Cycle Labs, Inc.TechNC$5M$6MSep 8
67Particle Industries, Inc.TechCA$5M$5MSep 12
68Open Doors Partners, LLCOpenCA$4.7M$4.7MSep 11
69ARZEDA Corp.OpenWA$4.5M$25MSep 11
70Ultimate Human Wellness Holdings, LLC rookieOpenDE$4.5M$4.5MSep 9
71Wrap Technologies, Inc.OpenFL$4.5M$4.5MSep 8
72GROWMARK Ventures, LLC rookieMain StreetIL$4.5M$4.5MSep 9
73Allegiant Gold LtdOpenIntl$4.3M$7.3MSep 8
74Emip 20, LLC rookieReal EstateNY$4.2MindefiniteSep 10
75Loman AI Inc. rookieTechTX$4.1M$4.1MSep 11
76VIDA Global Inc.TechTX$4M$4.5MSep 8
77AbelCine Management LLC rookieTechNY$4M$4.5MSep 9
78Garrison Oak Tech Park Owner LLC rookieReal EstatePA$4M$4MSep 11
79Casechek, Inc.TechIL$4M$4MSep 10
80Altus Secured Income Fund, LLCReal EstateCA$4M$100MSep 8
81Alexander Capital Ventures LLCFinanceNJ$3.8M$3.8MSep 8
82OS Therapies IncBio & HealthMD$3.8M$3.8MSep 10
83Stitch3D Inc.TechWA$3.7M$3.7MSep 12
84Ingest AI CorpTechLA$3.7M$6.3MSep 11
85Detection Innovation Group, Inc.TechDE$3.5M$3.5MSep 10
86TAHO, Inc. rookieTechFL$3.5M$4MSep 11
87Alexander Capital Ventures LLCFinanceNJ$3.5M$3.5MSep 8
88MP New Forest LLC rookieReal EstateTX$3.4M$17MSep 12
89Alexander Capital Ventures LLCFinanceNJ$3.4M$3.4MSep 9
90Reconnect, Inc.TechME$3.3M$3.5MSep 9
91Beyond Pulse, Inc. rookieTechOR$3.3M$3.4MSep 11
92MIMG CCLI Wexford, LLC rookieReal EstateCO$3.3M$9.8MSep 10
93Hines Diehl Road Multifamily LLC rookieReal EstateTX$3.2M$39.6MSep 8
94Dalton EB-5 Investor Fund, LLC rookieReal EstateGA$3.2M$28MSep 12
95Phil Ward EB-5 Fund, LP rookieReal EstateIN$3.2M$8MSep 10
96RefAssured Inc. rookieMain StreetAZ$3.2M$3.3MSep 8
97Step Into AI Inc. rookieTechIL$3.1M$3.1MSep 8
98FT Expansion NA LLC rookieMain StreetFL$3M$20MSep 12
99Sandpiper Chandler Holdings, LLC rookieReal EstateVA$2.8M$2.8MSep 10
100EGP Maplewood Fund I, LLC rookieFinanceOH$2.8M$3MSep 10
101LORCAPT Intermediary Holdings, Inc. rookieTechMI$2.6MindefiniteSep 8
102Start With Level, Inc. rookieTechNY$2.6M$3.1MSep 8
103Manchac & Odyssey Buligo LP rookieReal EstateDE$2.6M$9.1MSep 11
104Singing Sands Holdings LLC rookieReal EstateIL$2.6M$2.6MSep 11
105Pacific Life Insurance CoFinanceCA$2.6MindefiniteSep 12
106Maple Lawrence Holdings LLC rookieReal EstateMI$2.5M$2.5MSep 10
107Asymmetria Investors III, LLC - BlackJet (PS) rookieFinanceIA$2.5M$2.7MSep 10
108Consio AI, Inc.TechDE$2.5M$3MSep 9
109Ravegears India SPV 1 LLC rookieFinanceDE$2.5M$2.5MSep 9
110S25 Orange Fund, a series of Capitalize Investments LP rookieOpenTX$2.4M$2.4MSep 12
111RC 1 Executive Investors LLC rookieReal EstateMA$2.4M$2.4MSep 11
112Pursuit Capital Student Housing, LLC rookieReal EstateMO$2.4M$2.4MSep 11
113Owp Pharmaceuticals, Inc.Bio & HealthIL$2.4M$2.4MSep 9
114Colimit, Corp. rookieTechNY$2.4M$2.7MSep 11
115Axis Management Company, Inc. rookieBio & HealthCO$2.3M$3.3MSep 11
116McM - Short Pump, LLC rookieMain StreetNC$2.3M$2.3MSep 12
117Apollo-Ideal Hillsboro Holdco, LLC rookieReal EstateTX$2.1M$2.2MSep 12
118Playcast, Inc.TechWA$2.1M$2.5MSep 8
119Acretrader 252, LLC rookieReal EstateAR$2M$2MSep 8
120Emerita Resources Corp.OpenIntl$1.9M$3.2MSep 9
121Alta Music Group, Inc.OpenCA$1.8M$1.8MSep 12
122Prime Artificial Intelligence, Inc.TechTX$1.8M$2.1MSep 9
123Hydreight Technologies Inc.OpenIntl$1.7M$1.7MSep 8
124Whipple Artesian LLC rookieReal EstateIL$1.6M$1.6MSep 9
125Gold Lion Pin Ltd Liability Co rookieOpenNY$1.5M$1.9MSep 9
126Acretrader 268, LLC rookieReal EstateAR$1.4M$1.4MSep 12
127Gaingels H2025 LLC rookieOpenVT$1.4M$1.4MSep 9
128RR North Fund, LLC rookieReal EstateAZ$1.4M$14.2MSep 12
129Series 6-1, a series of StartEngine Private Funds LLC rookieOpenCA$1.3M$2.2MSep 10
130Disputed, Inc. rookieTechWA$1.1M$1.1MSep 11
131Endurance Capital Holdings LLC rookieOpenMN$1.1MindefiniteSep 10
132CG Starfuel III, LLC rookieReal EstateCA$1.1M$2.5MSep 12
133Aerobotics7, Inc. rookieTechCA$1.1M$1.2MSep 11
134CG Starfuel II, LLC rookieReal EstateCA$1.1M$2.5MSep 12
135Auxilia, Inc.Main StreetOH$1M$5MSep 9
136Brooklyn Dumpling Parent Holdings, Inc.OpenNJ$1M$1MSep 8
137RailPulse, LLCOpenVA$1M$2MSep 10
138Synchrony Medical Inc. rookieBio & HealthNJ$1M$2.5MSep 12
139Nymbl Science, Inc.Bio & HealthCO$984K$2.4MSep 12
140Norsemont Mining Inc.OpenIntl$961K$961KSep 9
141CG Starfuel IV, LLC rookieReal EstateCA$900K$2.5MSep 12
142Eastward Journey Ltd Liability Co rookieOpenNY$842K$2.2MSep 8
143Pigeon Cove Ferments, LtdOpenMA$830K$1.3MSep 11
144MIMG CCLII Woodland Heights, LLC rookieReal EstateCO$802K$3.5MSep 10
145Encore Florida RC Tampa WSS, LP rookieOpenTX$800K$5.6MSep 12
146Joule TopCo L.P. rookieReal EstateNY$800K$800KSep 12
147Round-Top Capital LLC rookieReal EstateTX$800K$32MSep 11
148Crosscut SPV Frontier, L.P. - Series 1 rookieOpenCA$790KindefiniteSep 8
149OBT Outparcel LLC rookieReal EstateFL$775K$775KSep 8
150Compound Gold Bonds Corp rookieFinanceNY$763KindefiniteSep 8
151FallCall Solutions, LLC rookieTechCT$740K$740KSep 11
152Freedom Fund Corp. rookieMain StreetDE$700K$1.2MSep 11
153Alpine San Jose, LLC rookieReal EstateAZ$650K$650KSep 12
154Mountain V 2025 Fund II, LP rookieEnergyWV$650K$20MSep 12
155Bsbc LLC rookieTechTX$648K$1.2MSep 9
156Microplate DxTechIntl$645KindefiniteSep 8
157Sabio Holdings Inc.TechCA$638K$638KSep 8
158VOS Systems, Inc. / DE rookieTechFL$630K$2.5MSep 11
159Spanish Mountain Gold Ltd.OpenIntl$615K$1.5MSep 11
160Agrograph, Inc.TechWI$600K$600KSep 10
161Joint Venture Card Holdings, Inc. rookieFinanceNV$575K$3MSep 11
162BISP Exploration Inc. rookieEnergyIntl$571K$1.1MSep 11
163Farmington Flats LLC rookieReal EstateCO$525K$700KSep 10
164TPILLC Holdings LLCOpenFL$511K$602KSep 12
165Encision IncBio & HealthCO$500K$500KSep 10
166Municipal Parking Services, Inc.TechMN$500K$20MSep 9
167Nw Alpha 1, LLC rookieReal EstateNY$500K$500KSep 12
168NurtureTalk Inc. rookieTechNH$480K$650KSep 12
169Riverdale 92 Operator, LLCReal EstateGA$479K$700KSep 12
170TB San Marcos Townhomes Partners LLC rookieFinanceTX$462K$5MSep 9
171Green Light Pet Hospital Arlington LLC rookieOpenFL$415K$558KSep 9
172Predictive Oncology Inc.Bio & HealthPA$413K$413KSep 8
173Helix Fund, a series of Capitalize Investments LP rookieOpenTX$387K$387KSep 12
174Brandrank.ai Inc.TechOH$375K$500KSep 9
175Rock Tech Lithium Inc.OpenIntl$363K$363KSep 12
176Vendini Group Inc. rookieMain StreetMO$357K$707KSep 9
177North Shore Uranium Ltd.OpenIntl$325K$650KSep 9
178Brookeside Property LLC rookieReal EstateCO$300K$300KSep 10
179My Autonomous Transportation Co. rookieOpenOH$300K$6MSep 12
180Swabbot Solutions, LLC rookieTechNC$300K$500KSep 11
181Tophat Security Inc. rookieTechGA$300K$5MSep 8
182BV SPV Holdings, LLCFinanceCA$288K$288KSep 8
183Hell & Heaven Spirits, Inc. rookieOpenVA$280K$280KSep 9
184Pulsar Helium Inc.EnergyIntl$279K$279KSep 12
185Slaine Holdings LLCOpenNJ$254K$254KSep 8
186Bvo 1 LLC rookieOpenTN$250K$1MSep 10
187Grainfield Partners II, LLP rookieReal EstateIA$250K$25MSep 12
188Gaingels ZeroMark LLC rookieOpenVT$236K$236KSep 9
189Blend SPV, LLC rookieTechGA$230K$230KSep 10
190EasyBee AI, Inc. rookieTechMA$225K$2MSep 11
191Brimstone Grill Inc. rookieMain StreetGA$200K$1.5MSep 11
192Charles & Colvard Ltd rookieMain StreetNC$200K$200KSep 12
193Covenant Land Fund, LLC rookieReal EstateSD$200K$4.3MSep 9
194Ngentix, Inc. rookieTechWA$200K$1MSep 8
195Ryp Labs, Inc.TechWA$200K$3MSep 11
196Compact Medical Inc.Bio & HealthIN$200K$4.5MSep 9
197Allied Critical Metals Inc. rookieOpenIntl$199K$199KSep 8
198Wytec International IncTechTX$181K$181KSep 11
199Quantum One Owners LLC rookieReal EstateTX$171K$100MSep 12
200Mobile Global Esports, Inc.TechCT$165K$165KSep 9
201Gaingels Charter Space July 2025 LLC rookieOpenVT$159K$159KSep 9
202HiFi Carbon, Inc. rookieEnergyMA$150KindefiniteSep 12
203TwoShoos LLC rookieTechNY$150K$250KSep 8
204Endless Adventures IncTechWA$150K$500KSep 12
205WellNest Technologies, Inc. rookieTechCO$140K$500KSep 8
206Greenwich Prestige Properties LLC rookieReal EstateCT$125K$56.5MSep 8
207My Hotsheet, Inc rookieReal EstateAZ$125K$500KSep 11
208BioSked, Inc.TechNY$123K$1.7MSep 11
209Batis Capital Holding LLC rookieOpenIntl$111K$111KSep 9
210Perspective Medical LLCBio & HealthCO$108K$108KSep 12
211FxCapPro Ltd rookieFinanceCO$100KindefiniteSep 10
212Point Blank Tequila LLC rookieMain StreetCO$100K$1MSep 11
213US Positronix Inc.TechOH$100K$750KSep 8
214Zegacy Inc. rookieTechND$85K$500KSep 9
215Rentaba, Inc. rookieTechPA$75K$150KSep 11
216LeagueMed Enterprises, LLC rookieFinanceNJ$70K$3MSep 10
217Trinity Urology Solutions, LLC rookieBio & HealthTX$69K$69KSep 9
218Intellistake Technologies Corp.TechIntl$61K$61KSep 12
219Ciphero AI Technologies, Inc. rookieTechNJ$60K$3MSep 11
220Gaingels Mana Bio 2025 LLC rookieOpenVT$51K$51KSep 9
221Dirty Dill LLCMain StreetCO$50K$50KSep 11
222Faq Investments, LLC rookieBio & HealthMS$50K$2MSep 10
223Smartland FND5, LLCReal EstateFL$50K$15MSep 8
224Ten Media Inc.OpenDE$50KindefiniteSep 9
225WineView, Inc.TechAL$50K$155KSep 10
226LQD Assets, LLCOpenKY$46KindefiniteSep 12
227Series 6-2, a series of StartEngine Private Funds LLC rookieOpenCA$45K$2.2MSep 10
228TKE 1 (Bakken) LLC rookieEnergyTX$40K$40KSep 11
229Trinity Urology Innovations, LLC rookieBio & HealthTX$40K$40KSep 9
230Garibaldi Resources Corp. rookieOpenIntl$25K$25KSep 12
231Flxion Medical, Inc. rookieBio & HealthTX$21KindefiniteSep 9
232Dryden Gold Corp.OpenIntl$18K$18KSep 9
233GS Finance Corp.FinanceNY$14K$14KSep 9
234Distinct Technologies, Inc.TechCT$13K$13KSep 11
235Easymator IncTechTX$12K$60KSep 10
236Silver One Resources Inc.OpenIntl$10K$25KSep 11
237Armor Solutions, Inc. rookieTechDE$5K$5KSep 12
238FxCapKyn Ltd rookieFinanceCO$1KindefiniteSep 10