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 49, 2025 (Dec 1–7)

240 companies reported $4.03B in new private raises on Form D in Week 49, 2025 (Dec 1–7). The biggest was Kalshi Inc., $821M in the Tech League from New York. Bending Spoons S.p.A. ($243M) and Odyssey Therapeutics, Inc. ($214M) rounded out the top three. The Tech League led all leagues with $1.83B across 58 raises. New York topped the state standings with $1.15B. That is up 106% versus the week before ($1.95B). 157 of the 240 were first-time Form D filers, led by Curative Inc. ($153M). In the Fund League, 246 funds reported $7.17B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Kalshi Inc.TechNY$821M$1000MDec 4
2Bending Spoons S.p.A.TechIntl$243MindefiniteDec 4
3Odyssey Therapeutics, Inc.Bio & HealthMA$214M$214MDec 4
4Curative Inc. rookieBio & HealthTX$153M$200MDec 4
57AI, Inc.TechMA$131M$131MDec 4
6Triana Biomedicines, Inc.Bio & HealthMA$120M$120MDec 4
7Weatherford Capital Sports LLC rookieFinanceFL$108M$108MDec 5
8Eagle Eye Capital Ltd. rookieFinanceNY$100MindefiniteDec 2
9Harbour Arts Capital Management LTD rookieFinanceTX$100MindefiniteDec 2
10Touareg Group Technologies Co. rookieTechWY$100M$100MDec 2
11PDW Holdings, Inc.TechAL$99.1M$119MDec 3
12Cambium Biomaterials, Inc.TechCA$94.4M$101MDec 4
13Alpine Banks Of ColoradoFinanceCO$75M$75MDec 4
14Cig DS1, LLC rookieEnergyFL$70M$70MDec 2
15Orion Pro Fund 2025, LP rookieReal EstateFL$57.6M$125MDec 5
16EfficientAI CorpTechPA$53.7M$60.7MDec 3
17Akura Medical, Inc.Bio & HealthCA$51.4M$72MDec 3
18Kemin Foods, L.C.OpenIA$50M$50MDec 1
19Kemin Holdings, L.C.OpenIA$50M$50MDec 1
20Kemin Industries, Inc.OpenIA$50M$50MDec 1
21Cig DS2, LLC rookieEnergyFL$45.5M$45.5MDec 3
22Bank of Marin Bancorp rookieFinanceCA$45M$45MDec 4
23Black Creek Investments, LLC rookieReal EstateNY$43.6M$45MDec 1
24BenePass, Inc.OpenNY$40M$40MDec 5
25HZ Village of the Pines DST rookieReal EstateCA$38.6M$48.4MDec 4

By league

LeagueRaisedRaises
Tech$1.83B58
Bio & Health$684M31
Finance$562M17
Open$387M62
Real Estate$351M49
Energy$178M9
Main Street$39.7M14

By state

StateRaisedRaises
New York$1.15B30
Massachusetts$473M8
California$418M32
International$362M18
Florida$349M21
Texas$329M17
Iowa$150M3
Alabama$119M2
Wyoming$100M4
Colorado$93M5
Washington$76.9M6
Pennsylvania$68.7M5
Illinois$48.2M9
Virginia$41.5M6
Maryland$35M1

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Curative Inc. rookieBio & HealthTX$153M$200MDec 4
2Weatherford Capital Sports LLC rookieFinanceFL$108M$108MDec 5
3Eagle Eye Capital Ltd. rookieFinanceNY$100MindefiniteDec 2
4Harbour Arts Capital Management LTD rookieFinanceTX$100MindefiniteDec 2
5Touareg Group Technologies Co. rookieTechWY$100M$100MDec 2
6Cig DS1, LLC rookieEnergyFL$70M$70MDec 2
7Orion Pro Fund 2025, LP rookieReal EstateFL$57.6M$125MDec 5
8Cig DS2, LLC rookieEnergyFL$45.5M$45.5MDec 3
9Bank of Marin Bancorp rookieFinanceCA$45M$45MDec 4
10Black Creek Investments, LLC rookieReal EstateNY$43.6M$45MDec 1

Fund League

$7.17B across 246 funds.

#CompanyStateRaisedRaisingFiled
1Harvey Capital Offshore Fund, Ltd. rookieIntl$650MindefiniteDec 4
2LGP Equity Investors X Access LLC rookieNY$588MindefiniteDec 1
3PIMCO DISCO Contingent Capital Offshore Fund LPCA$570MindefiniteDec 4
4M5 Software Investment D1 AB rookieIntl$466MindefiniteDec 3
5Harvey Capital Onshore Fund, L.P. rookieNY$434MindefiniteDec 4
6Crest Cayman Fund Ltd. rookiePA$418MindefiniteDec 3
7PIMCO DISCO Contingent Capital Onshore Fund LPCA$364MindefiniteDec 4
8Apogem Gannett Peak Opportunity Fund, LP rookieNY$300MindefiniteDec 5
9Invictus Opportunity Feeder IV-R, L.P. rookieDC$250MindefiniteDec 5
10M5 Software Investment D2 AB rookieIntl$248MindefiniteDec 3
All 240 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26First Citizens Bancshares, Inc./TXFinanceTX$35M$35MDec 5
27Panorama Artificial Intelligence Corp.TechWA$35M$35MDec 3
28Bozzuto Acquisition Multifamily Co-investment Fund, LLC rookieReal EstateMD$35M$35MDec 1
29Yoodli, Inc.TechWA$34M$34MDec 5
30Protego Biopharma, Inc.Bio & HealthCA$32.9M$130MDec 3
31M5 Software Investment E AB rookieFinanceIntl$32.5MindefiniteDec 3
32Cig CS3, LLC rookieEnergyFL$30.5M$30.5MDec 4
33TaleMonster Games Inc.TechIntl$30M$30MDec 2
34Okami Medical, Inc.TechCA$28.9M$46.7MDec 1
35Cole Capital Fund PCC Ltd - Cell A rookieFinanceIntl$26MindefiniteDec 1
36University Bancorp, Inc. rookieFinanceMI$25M$25MDec 1
37Drink Recess Inc. rookieOpenNY$24.7M$25MDec 5
38Zaf Storr Holdings LP rookieOpenIL$23.4MindefiniteDec 3
39Nasdaq Private Market, LLCOpenNY$22.5M$37.6MDec 3
40VahatiCor, Inc. rookieBio & HealthCA$21.2M$32.4MDec 4
41Opentrons Labworks Inc.OpenNY$20.1M$56.6MDec 5
42I4 Commerce Partners, LLC rookieReal EstateAL$19.8M$19.8MDec 2
43Cig CS2, LLC rookieEnergyFL$19.7M$19.7MDec 4
44Reema Health Inc. rookieTechMN$18.9M$18.9MDec 2
45Soar Health Inc.Bio & HealthCO$17M$17.1MDec 2
46Camp NYC, Inc.Main StreetNY$17M$20MDec 5
47Kelston Investors LLC rookieReal EstateNC$16.9M$16.9MDec 3
48Lalitha Corp.Bio & HealthCA$16.6M$16.6MDec 3
49Percapita Group, Inc.OpenNY$15M$24.5MDec 5
50Augmentt Holdco Inc. rookieTechIntl$15M$15MDec 1
51Healthcare Triangle, Inc.TechCA$15M$15MDec 3
52Marketing Evolution, Inc.OpenNY$13.9M$13.9MDec 5
53Ep Winston-salem Jv, LLC rookieReal EstateVA$13.2M$13.2MDec 3
54CAM Investment 501 LLC rookieReal EstateCA$13M$20MDec 5
55Hauler Hero Inc.TechNY$12M$14.5MDec 1
56HyperCurrent, Inc. rookieTechVA$11.9M$17.7MDec 1
57Windsor Park Lane Investors LLC rookieReal EstateVA$11M$19MDec 1
58Destiny Partners, LLC / Pennsylvania rookieReal EstatePA$10.8M$12MDec 3
59Electric Solidus, Inc.OpenCA$10.3M$10.3MDec 4
60Compact Membrane Systems, Inc.TechDE$10.3M$20MDec 4
61MindImmune Therapeutics, Inc.Bio & HealthRI$10.2M$12MDec 5
62Dig Deep, Inc. rookieTechNV$10.1M$10.5MDec 2
63Newport Village 168, LLC rookieReal EstateUT$10.1M$10.1MDec 3
64Automated Water Machines Inc d/b/a Kadeya rookieMain StreetIL$9.1M$9.1MDec 4
65Harbor Capital Industrial Fund I, LP rookieReal EstateTX$9M$55MDec 3
66X9, Inc.OpenCT$8.6M$33MDec 5
67Addis Energy, Inc. rookieEnergyMA$8.4M$8.4MDec 1
68Fintainium, Inc.TechFL$7.8M$9.1MDec 3
69VREH Park Square Partners, LLC rookieReal EstateOR$7.7M$7.7MDec 1
70Checkerspot, Inc.OpenCA$7.6M$10MDec 2
71VITLrx Inc. rookieTechTN$7.5M$7.5MDec 2
72Rubi Laboratories, Inc.Main StreetCA$7.5M$7.5MDec 1
73421 Yellowstone LLC rookieReal EstateWI$7.2M$7.2MDec 4
74Mitra EV, Inc.OpenCA$7M$7MDec 3
75MPE University LLC rookieReal EstateIL$6.8M$6.8MDec 3
76RDGSH Statesboro, LP rookieReal EstateNC$6.8M$6.8MDec 3
77Taunton Woods LLC rookieReal EstateCT$6.4M$6.4MDec 4
78Mw Black Earth Investor, Limited Partnership rookieOpenTX$6.3M$6.3MDec 5
79Convexity Scientific Inc.Bio & HealthCT$5.9M$6.2MDec 2
80Wearable Devices Ltd.TechIntl$5.7M$5.7MDec 4
81Omai Gold Mines Corp.OpenIntl$5.5M$5.5MDec 4
82Prem Labs, Inc rookieTechDE$5.5M$8MDec 4
83Long-Term Care Consultants, LLC rookieBio & HealthOH$5M$8MDec 3
84East Avenue Sunny Ridge, LLC rookieReal EstateTX$5M$5MDec 5
85Mantis Biotechnology Corp rookieBio & HealthCA$4.8M$5.5MDec 3
86Creative Planning Employee Investment, LLCFinanceKS$4.8M$4.8MDec 5
87Airhart Aeronautics, Inc. rookieTechCA$4.6M$5.6MDec 3
88Adial Pharmaceuticals, Inc.Bio & HealthVA$4.3M$4.3MDec 3
89FibroBiologics, Inc. rookieBio & HealthTX$4M$4MDec 3
90Tech Credit Union rookieFinanceIN$4M$4MDec 4
91Amberley House Holdings LLC rookieReal EstateOH$4M$4.2MDec 3
92Tackle AI, LLCTechIL$3.7M$5MDec 4
93Govstream.ai, Inc.TechWA$3.6M$3.6MDec 2
94Project Obelisk, Inc. rookieOpenCA$3.6M$3.6MDec 1
95Guickly, Inc. rookieTechCA$3.5M$5MDec 5
96Waveclear, Inc.Bio & HealthPA$3.5M$5MDec 3
97Audivi AI Inc. rookieTechOH$3.5M$3.5MDec 2
98Unified Michigan Fund I, LLC rookieFinanceOH$3.5M$4MDec 5
99BTB Therapeutics, Inc.Bio & HealthCA$3.4M$7.4MDec 1
1001515 W Kirby Ave Investor, LLC rookieReal EstateIL$3.3M$3.3MDec 3
101EmpNia Inc.Bio & HealthMN$3.3M$10MDec 3
102Psychedelic Games, Inc. rookieOpenTX$3.2M$3.5MDec 4
103Aro Cmp EB5 LP rookieReal EstateTX$3.2M$10.4MDec 2
104Medicovestor, Inc. rookieBio & HealthNY$3.2M$4.1MDec 5
1054 Mankind, Inc.Bio & HealthTX$3M$3MDec 2
106NY Advantage Funding LLC rookieReal EstateNY$2.9M$10MDec 4
107Seattle Funding Group, Ltd.OpenWA$2.8M$2.8MDec 4
108Origin Speech Therapy Inc. rookieBio & HealthCA$2.6M$2.8MDec 4
109PicklePort Myrtle Beach, LLC rookieOpenSC$2.6M$5.1MDec 5
110Humanola, Inc. rookieTechNY$2.4M$2.5MDec 4
111Nomadar Corp.TechTX$2.3M$2.3MDec 1
112590 Union LLC rookieReal EstateNY$2.2M$5.5MDec 5
113My Health OS Inc. rookieTechDE$2M$3MDec 4
114Sideoats Energy II, LP rookieEnergyTX$1.8M$5MDec 4
115NexPoint Oasis DST rookieReal EstateTX$1.8M$46.3MDec 2
116Brookstone & Sycamore Owner LLC rookieReal EstateNY$1.8M$1.8MDec 5
117Monse LLC rookieMain StreetNY$1.8M$3MDec 5
118Basata, Inc.TechAZ$1.7M$1.7MDec 1
119Citadel Montego Bay LLC rookieReal EstateFL$1.6M$4.7MDec 3
120Sky City Data, Inc.Main StreetWI$1.6M$1.6MDec 4
121AntiFragile Equity Partners Inc.OpenNY$1.5M$5MDec 5
122FibroBiologics, Inc. rookieBio & HealthTX$1.5M$1.5MDec 3
123Banner CV Investors, LLC rookieReal EstateNC$1.4M$1.4MDec 4
124Sanctum Storage OK I LP rookieReal EstateID$1.4M$1.4MDec 1
125Without Waste, Inc.OpenDE$1.3M$1.3MDec 5
126Verdo .AI, Inc. rookieTechCA$1.2M$1.2MDec 5
127Lumos Technologies, Inc.TechNC$1.1M$2MDec 3
128Crafty Holdings, Inc.OpenIL$1M$1MDec 5
129Farmstead on Falls Apartments, LLC rookieReal EstateWI$1M$6MDec 4
130SKYX Platforms Corp.TechFL$1M$1MDec 5
1313121 Emerson LLC rookieReal EstateCA$988K$1.3MDec 2
132OrchardLink, Inc. rookieTechFL$986K$1.1MDec 3
1331784 UK Holdings 3 Stratford OV, LLC rookieReal EstateAZ$975K$4MDec 1
134Harrison Ave RV Park Investors LLC rookieReal EstateWA$930K$2MDec 2
135Bd Bf Consano II LLC rookieFinanceCT$928K$1.5MDec 2
136Lwci LLC rookieMain StreetCA$925K$1.5MDec 2
137M2M Capital Inc. rookieOpenFL$895K$1.2MDec 1
138Assembly Logistics, LLC rookieOpenOH$875K$875KDec 2
139Springdale Five Good Ground LLC rookieReal EstateNY$868K$1.1MDec 5
140Hive Heart Holdings, LLC rookieMain StreetTN$850K$850KDec 2
141Two Oceans Ventures, LLC rookieFinanceIntl$840K$840KDec 2
142LYFE Industries LLC rookieOpenIN$800K$1.1MDec 1
143Marriott AtC Partners, LLC rookieReal EstateAZ$800K$12MDec 4
144Ross Lane Development LLC - Cantera Series, an Illinois series Ltd liability Co rookieReal EstateIL$800K$800KDec 3
145LaGrange MD, LLC rookieReal EstateUT$775K$775KDec 3
146Pumps & Pumps Oil Fund, Limited Partnership rookieEnergyAZ$760K$10MDec 2
147PickleRage LLC rookieOpenFL$750KindefiniteDec 5
148Plethy Capital, LLC rookieBio & HealthFL$721K$721KDec 3
149NevGold Corp.OpenIntl$712K$1.2MDec 5
150GrowAbility Equity Oil & Gas Fund 2, Limited Partnership rookieEnergyFL$700K$2.5MDec 2
151Connected Things Inc.TechVA$690K$1.8MDec 4
152MyWayv Holding, Inc.TechFL$660K$1MDec 4
153WACO2 Holdings LLC rookieOpenWA$625K$625KDec 3
154DayFi, Inc. rookieTechMN$600K$600KDec 5
155Series E, a series of UM AI & Frontier Technology Fund LLC rookieOpenNY$600KindefiniteDec 1
156RepublicX LLC rookieTechNY$585K$3.5MDec 4
157Hannan Metals Ltd.OpenIntl$580K$580KDec 2
158Block Party Investments LLC rookieOpenMN$575K$575KDec 2
159Letz Technologies LLC rookieTechFL$550K$550KDec 2
160Gaingels Model LLC rookieOpenVT$539K$539KDec 3
161A-synaptic Corp.OpenIntl$533K$2MDec 4
162Barrel Proof Atlanta LLC rookieOpenLA$500K$500KDec 4
163Full Bloom Memory Care, LLCBio & HealthVA$500K$500KDec 5
164Geofund Global Inc. rookieOpenDC$500K$1MDec 5
165Module Design, Inc.Real EstatePA$500K$2.5MDec 4
166Real American Wrestling, Inc.OpenFL$500K$5MDec 3
167Zeo ScientifiX, Inc.Bio & HealthFL$500K$5MDec 5
168Series 62-1, a series of StartEngine Private LLC rookieOpenCA$494K$2.2MDec 3
169Tender Crush Holdings, LLC rookieMain StreetNY$484K$1.1MDec 3
170Gaingels Aalo Atomics NOV 2025 LLC rookieOpenVT$479K$479KDec 1
171Open Doors Partners, LLCOpenCA$440K$440KDec 2
172Series 76-1, a series of StartEngine Private LLC rookieOpenCA$429K$744KDec 4
173Kobrea Exploration Corp. rookieOpenIntl$428K$748KDec 2
174MuscleSound, Inc.Bio & HealthCO$425K$425KDec 1
175OncoPatch, Inc. rookieOpenCO$419K$2MDec 4
176Helios, a series of Angel Cake SPV Master, LLC rookieOpenUT$405K$405KDec 3
177639 LLCOpenDE$400K$2.7MDec 2
178Nude Group Inc. rookieOpenFL$400K$2MDec 1
179Syncwords, Inc.TechNY$400K$1MDec 4
180Tyton Capital Partners, LLC rookieOpenAZ$400K$50MDec 5
181Childrens Healthcare Of Atlanta Surgery Center At Meridian Mark Plaza, LLCBio & HealthGA$371K$742KDec 3
182Series 64-1, a series of StartEngine Private LLC rookieOpenCA$365K$574KDec 3
183Two Front SPV, a series of Revere Partners SPV Master, LP rookieOpenNJ$350K$350KDec 2
184Gaingels Axiom Space 2025 LLC rookieOpenVT$343K$343KDec 1
185Musaffa, Inc.TechNY$315K$5MDec 5
186Cadet Athletic Performance LLC rookieOpenNY$310K$550KDec 3
187Series 66-1, a series of StartEngine Private LLC rookieOpenCA$287K$745KDec 1
188UP Oakbrook Holdings, LLC rookieReal EstateCA$270K$2MDec 5
189Blue Biofuels, Inc.EnergyFL$250K$500KDec 5
190Dipsy, LLC rookieOpenNY$250K$500KDec 4
191Nomadar Corp.TechTX$250K$250KDec 1
192Sixty North Gold Mining Ltd. rookieOpenIntl$234K$553KDec 3
193Lion26 SOII LLC rookieFinanceDE$230K$230KDec 2
194Gold Port CorpOpenIntl$229K$533KDec 1
195Gaingels Cambium NOV 2025 LLC rookieOpenVT$215K$215KDec 3
196SiteVue AI Inc. rookieTechTN$185K$215KDec 4
197RebornCarbon Inc. rookieMain StreetMS$180K$180KDec 5
198Novocycle Technologies Corp rookieTechCA$175K$12.9MDec 1
199Composer Appliance, Inc. rookieMain StreetDE$150KindefiniteDec 3
200Eternal Applications, Inc. rookieOpenPA$150K$150KDec 3
201Lasoh, Inc. rookieTechOH$150K$400KDec 1
202Haiven, Inc. rookieTechWY$136K$3MDec 1
203Algernon Health Inc.Bio & HealthIntl$126K$582KDec 1
204BCSS Archwest (L) REIT, LLC rookieReal EstateMA$125K$125KDec 3
205Invictus Gladiator Fund REIT, LLC rookieReal EstateDC$125KindefiniteDec 4
206Invictus Onshore REIT IV, LLC rookieReal EstateDC$125KindefiniteDec 4
207Nhf V Dxs REIT, LLC rookieReal EstateGA$125K$125KDec 3
208SDC Capital Income Fund REIT LLC rookieReal EstateCA$125KindefiniteDec 3
209Vimotis Inc. rookieTechWI$125K$250KDec 2
210Wilshire 26313 Golden Valley Road Holdings LLC rookieReal EstateNY$125K$125KDec 1
211Wilshire Highland Grove LC I Holdings LLC rookieReal EstateNY$125K$125KDec 1
212CHCC Troy, LLC rookieBio & HealthMI$124K$1.5MDec 1
213900 Third Investment, LLCReal EstateNY$123K$125KDec 3
214Gaingels Reflex LLC rookieOpenVT$119K$119KDec 5
215MetrixGrove, Inc. rookieTechUT$115K$500KDec 2
216Paretor LLCBio & HealthMA$105K$105KDec 3
217Ophthalmic Therapeutic Innovation LLC rookieBio & HealthMA$100K$300KDec 2
218Werewolfs Capital Ltd rookieFinanceCO$100KindefiniteDec 4
219Green Light Pet Hospital McKinney LLC rookieOpenFL$86K$970KDec 5
220Glaus, Pyle, Schomer, Burns & Dehaven, Inc.OpenOH$86K$126KDec 2
221SenseFlow, Inc. rookieTechDE$75K$75KDec 3
222WayPave SPV LLC rookieFinanceAR$75KindefiniteDec 1
223Whitaker Syndicates LLC rookieBio & HealthUT$75K$125KDec 4
224ChronicGPT Inc. rookieTechTX$70K$350KDec 5
225Patriot Creek Marine Concepts Inc. rookieTechMA$68K$2MDec 5
226T2 SREI Preferred REIT, LLC rookieReal EstateIL$62K$62KDec 4
227Couplr, Inc.TechWY$50K$1MDec 1
228Divvy Up, Inc. rookieMain StreetTX$50K$540KDec 4
229EquiNote MO Yield Fund LLC rookieReal EstateMO$50K$2.5MDec 4
230Graton Station rookieMain StreetCA$50K$750KDec 5
231Simple Autonomy, Inc. rookieTechDE$50K$150KDec 1
232FTToken Inc. rookieTechWY$41K$300KDec 3
233AISCORE Ltd rookieTechIntl$32KindefiniteDec 4
234Coop & Sons LLC rookieMain StreetDE$25K$325KDec 5
235Holly Weis Theatricals LLC rookieOpenNY$25K$1MDec 3
236Glucose Health, Inc.Main StreetAR$20K$20KDec 5
237Leto Tech PBC rookieTechIL$20K$300KDec 2
238United Lithium Corp.OpenIntl$18K$18KDec 2
239Fendx Technologies Inc.TechIntl$8K$8KDec 4
240McNeill Economy Hospitality LLC rookieReal EstateTN$102$121Dec 4