Weekly recap

Biggest private raises: Week 48, 2025 (Nov 24–30)

182 companies reported $1.95B in new private raises on Form D in Week 48, 2025 (Nov 24–30). The biggest was ZUP Holdings LP, $396M in the Main Street League from New York. Eastham Capital Fund VII, LP ($160M) and Pelage Pharmaceuticals, Inc. ($120M) rounded out the top three. The Main Street League led all leagues with $530M across 10 raises. New York topped the state standings with $470M. That is down 15% versus the week before ($2.29B). 122 of the 182 were first-time Form D filers, led by ZUP Holdings LP ($396M). In the Fund League, 151 funds reported $3.85B.